Bank of Beijing to redeem preference shares amid legal challenge

Bank of Beijing Co., Ltd. will fully redeem and delist its "North Bank Preferred 1" preference shares on December 11, 2025. Trading of these preference shares will be suspended on December 10, 2025, with the last trading day being December 9, 2025. The redemption, totaling RMB 4.9 bn for 0.49 bn shares at RMB 100 per share plus accrued dividends, follows approvals from the bank's board and the Beijing Regulatory Bureau of the National Financial Regulatory Administration.

Concurrently, Bank of Beijing, along with its Xidan sub-branch, has received a summons in a securities misrepresentation liability dispute. The lawsuit, initiated by Hu Juling and other investors against Kangdexin Composite Material Group Co., Ltd., names Bank of Beijing as one of 40 defendants. The plaintiffs seek approximately RMB 4,139,231,467.68 in investment losses and an additional RMB 3,000,000 for related costs.

The bank states the lawsuit is currently in its preliminary stages, with no trial date set, and, based on initial assessment, it is not expected to materially impact the bank's operations or future profits. The company pledges to monitor developments and fulfill its disclosure obligations.