Bank of Ningbo announces second preference share redemption

Bank of Ningbo Co., Ltd. has issued a second indicative announcement regarding the planned redemption of its preference shares (stock code: 140007, preference share abbreviation: Ningxingyou 02). The company intends to redeem all 100 million outstanding preference shares, with a nominal value of CNY 100 per share, totaling CNY 10 billion.

The redemption price for these preference shares will be their nominal value plus any declared but unpaid dividends for the current period. The redemption date is set for November 7, 2025. Payment will include the preference share's nominal amount and dividends accrued from November 7, 2024, to November 6, 2025.

The redemption plan was approved by the company's board of directors and the Ningbo Financial Regulatory Bureau. The board passed a resolution on August 27, 2025, to exercise the second-phase preference share redemption right, and has received no objection from the Ningbo Financial Regulatory Bureau.