Pudong Development Bank: nearly half of convertible bonds yet to convert

As of September 30, 2025, Shanghai Pudong Development Bank successfully converted 25,428,173,000 yuan of its convertible bonds into 2,002,606,591 ordinary shares. This represents 6.8227% of the company's total ordinary shares issued before the conversion. In the third quarter of 2025, 13,639,556,000 yuan of convertible bonds were converted, adding 1,090,187,805 ordinary shares.

Despite ongoing conversions, 24,571,827,000 yuan of convertible bonds remained unconverted as of the same date, accounting for 49.1437% of the total issuance. During this period, the bank's conversion price adjusted from 12.92 yuan per share to 12.51 yuan per share, following the distribution of 2024 annual ordinary share cash dividends on July 16, 2025.

The changes increased the company's total share capital to 31,354,686,988 shares, resulting in an passive adjustment of Fude Life Insurance Co.'s shareholding from 20.04% to 19.34%.