Qingdao Bank major shareholder gets nod for equity increase

Bank of Qingdao announced that Qingdao Guoxin Industry and Finance Holdings (Group) Co., Ltd. (Guoxin Industry and Finance Holdings) has received approval from the National Financial Regulatory Administration Qingdao Regulatory Bureau to increase its equity. Guoxin Industry and Finance Holdings will acquire an additional stake within six months, not exceeding 5% of the bank's total share capital. Following this acquisition, Guoxin Industry and Finance Holdings and its related parties will collectively hold up to 19.99% of Qingdao Bank's shares.

The planned increase in shareholding by Guoxin Industry and Finance Holdings will occur through secondary market transactions, aiming to reach a total stake of 19.00% to 19.99%. This involves acquiring between 233,396,500 and 291,017,736 shares. As of the announcement date, Guoxin Industry and Finance Holdings and its affiliates already hold 872,471,173 shares, representing 14.99% of the bank's total share capital.

Guoxin Industry and Finance Holdings commits not to sell any of its acquired shares for five years and to avoid share reductions during the increase period. The plan will not occur during the bank's blackout periods and is based on a positive view of the bank's long-term investment value.