Bank of Ningbo announces redemption of preference shares

Bank of Ningbo Co., Ltd. (SZSE:002142) has announced its intention to fully redeem 100 million shares of its "Ninghangyou02" preference shares (stock code: 140007), which were issued on November 7, 2018. The redemption is scheduled for November 7, 2025, to coincide with the fixed dividend payment date. The total scale of the redemption is RMB 10 bn.

The redemption price for each "Ninghangyou02" share will be RMB 104.5, comprising the par value of RMB 100 per share plus a dividend of RMB 4.5 per share for the period from November 7, 2024, to November 6, 2025. This decision was approved by the company's eighth board of directors at its eleventh meeting on August 27, 2025, and subsequently received approval from the Ningbo Financial Regulatory Bureau.

The bank cites the optimization of its financial structure and reduction of financial costs as the primary reasons for this redemption. The company was authorized by its 2017 fourth provisional general meeting to handle all matters related to the redemption of preference shares within the approved framework.