SPDB convertible bond matures, adding billions in ordinary shares

Shanghai Pudong Development Bank (SPDB) has completed the maturity redemption of its "SPDB convertible bond" (bond code: 110059), with the redemption occurring on October 28, 2025. A total of 1,629,180 bonds were redeemed, amounting to a total redemption value of 179,209,800 yuan. This redemption represents 0.3258% of the total bond issuance and did not significantly impact the company's capital utilization.

The majority of the convertible bonds were converted into ordinary shares. As of October 27, 2025, 49,837,082,000 yuan of the SPDB convertible bond had been converted, adding 3,953,757,903 ordinary shares to the company's capital. This conversion boosted SPDB's core Tier 1 capital and strengthened its capital adequacy, supporting sustainable development.

The increase in total share capital from 31,354,686,988 shares to 33,305,838,300 shares, as of October 27, 2025, enhances the company's capital strength, although it will result in a short-term dilution of earnings per share. The SPDB convertible bond officially delisted from the Shanghai Stock Exchange on October 28, 2025.