Bank of Nanjing to redeem preference shares, delist, and appoint new auditor

Bank of Nanjing Co., Ltd. announced the full redemption of its 49 million preference shares, totaling RMB 4.9 bn. The last trading day for these shares is December 19, 2025, with redemption registration and trading suspension commencing on December 22, 2025. Shares will be delisted and redemption funds distributed on December 23, 2025. The redemption price includes the face value plus accrued and unpaid dividends.

The bank's board of directors, authorized by a 2015 extraordinary general meeting, approved the redemption. In parallel, Bank of Nanjing will hold its third extraordinary general meeting on December 26, 2025, to address key corporate governance matters. These include a proposal to discontinue the supervisory board, with its functions to be taken over by the board's audit committee.

Additionally, the bank plans to elect Wang Houyin as a director and Wang Yao as an independent director to the tenth board of directors. Following an eight-year engagement, the bank will also appoint KPMG Huazhen LLP (Special General Partnership) as its auditor for 2026, replacing Ernst & Young Hua Ming LLP.