Bank of Ningbo to fully redeem second tranche preference shares

A legal opinion confirmed Bank of Ningbo's redemption of its second tranche of preference shares complies with relevant regulations and its offering circular. The Ningbo Financial Supervision and Administration Bureau approved the redemption, set for November 7, 2025.

The redemption involves 100 million shares of "Ningxingyou 02" at a face value of 100 yuan each, totaling 10 bn yuan. The redemption price is set at the share's face value plus declared and unpaid dividends of 4.5 yuan per share, amounting to 104.5 yuan per share. The last trading and registration date for these shares is November 6, 2025.

This redemption, authorized by the bank's board and shareholders, aims to optimize the company's financial structure and reduce financial costs. The funds will be distributed directly by the company, and the shares will be delisted five trading days after the redemption date.