Hangzhou Bank to redeem ¥100 bn in preference shares

Hangzhou Bank Co., Ltd. has announced its intention to fully redeem its 100 million preference shares, issued in 2017, by December 15, 2025. The total redemption value will be 100 billion yuan, representing the preference shares' face value of 100 yuan per share. The redemption price will include the face amount of the preference shares plus any declared and unpaid dividends for the period from December 15, 2024, to December 14, 2025.

The decision to redeem the preference shares follows approval by the company's board of directors and a no-objection response from the Zhejiang Regulatory Bureau of the National Financial Regulatory Administration. The company's 2017 extraordinary general meeting had previously authorized the board and its chairman to handle matters related to the non-public offering and subsequent redemption of preference shares.

The eighth board of directors of Hangzhou Bank formally approved the exercise of the preference share redemption right on August 27, 2025. This action aligns with the bank's operational and financial strategies.