Bank of Beijing to redeem Northern Bank Preferred 1 shares in 2025

Bank of Beijing Co., Ltd. has issued a second indicative announcement regarding its plan to fully redeem 0.49 billion shares of its preference shares, known as "Northern Bank Preferred 1." The total redemption amount will be 4.9 bn yuan, with each share having a face value of 100 yuan. The redemption is scheduled for December 11, 2025, which also marks the preference shares' dividend payment date for 2025.

The redemption price for the preference shares will include their face value plus any declared but unpaid dividends for the period. Specifically, shareholders will receive the preference share face amount and dividends for the holding period from December 11, 2024, to December 10, 2025. The bank's board of directors approved the exercise of the redemption option on October 29, 2025, and has received no objection from the Beijing Regulatory Bureau of the National Financial Regulatory Administration.

The original issuance of these preference shares occurred on December 11, 2015, following approval from the bank's first extraordinary general meeting in 2014, which authorized the board to handle all redemption-related matters.