Cathay Haitong issues semi-annual report on Bank of Communications acquisition

Cathay Haitong Securities Co., Ltd., acting as financial advisor, has issued its 2025 semi-annual continuous supervision opinion regarding the acquisition of Bank of Communications Co., Ltd. by the Ministry of Finance. This opinion covers the period from March 31, 2025, to June 30, 2025, within the 12-month continuous supervision period following the acquisition's completion.

Prior to the acquisition, the Ministry of Finance held 17,732,424,445 shares in Bank of Communications, representing 23.88% and making it the largest shareholder. Post-acquisition, the Ministry of Finance now holds 30,942,772,271 shares, accounting for 35.02% of the total share capital, thereby becoming the controlling shareholder. The Ministry of Finance has committed not to transfer these newly acquired shares for five years from the issuance date.

Cathay Haitong confirmed that the acquisition has obtained approval from the Shanghai Stock Exchange and registration consent from the China Securities Regulatory Commission, with the relevant shares already issued and listed. As of the report date, the Ministry of Finance has no plans to adjust the company's main business, dispose of or acquire major assets, change directors or senior management, or modify the company's articles of association.