Bank of Changsha redeems preference shares as chairman steps down

Bank of Changsha Co., Ltd. will fully redeem and delist its 60 million preference shares, totaling 6 bn yuan, on December 25, 2025. The last trading day for these preference shares will be December 23, 2025, with redemption registration and trading suspension starting December 24, 2025. The redemption price will include the par value plus declared and unpaid dividends.

Concurrently, chairman Zhao Xiaozhong submitted his resignation on December 19, 2025, due to reaching retirement age. He will no longer serve as a director, chairman of the Board Strategy and Sustainable Development Committee, or member of the Board Consumer Rights Protection Committee, and will cease to be the legal representative. His departure, effective immediately, will not impact the board's minimum member count or normal operations.

Mr. Zhao Xiaozhong, who joined Bank of Changsha at its inception, served as president from September 2015 and as party secretary and chairman from December 2021. His leadership was credited with significant achievements, including securing fund custody qualifications, expanding branch networks, exceeding 1 trillion yuan in assets, and elevating the bank into the top 200 global banks.