Ningbo Bank supervisory board chairman resigns; 2026 related party transaction estimates

Mr. Luo Mengbo has resigned from his roles as chairman of the supervisory board and employee supervisor at Bank of Ningbo, effective November 21, 2025, due to work reasons. He will continue to serve as a member of the company's party committee. The supervisory board acknowledged Mr. Luo's significant contributions during his tenure. As of the announcement date, Mr. Luo holds 1,300,000 shares in the company.

Concurrently, Bank of Ningbo has projected its 2026 daily related party transaction limits. The total credit limit for all corporate shareholders' related parties is set at RMB 100 bn, with high-risk credit and bond investment not exceeding RMB 20 bn. Individual shareholders' related parties have a credit limit of RMB 30 bn, while related party groups have a limit of RMB 50 bn. The bank also detailed credit and non-credit transaction estimates for key corporate shareholders, including Ningbo Development and Investment Group, Youngor Fashion, and Ningbo Haishu Industrial Investment Group.

For commercial bank shareholders, specifically OCBC Bank and its affiliates, the projected 2026 interbank credit limit for a single related party is RMB 22 bn, with a bond underwriting limit of RMB 5 bn. For related party groups, these limits are RMB 47 bn and RMB 10 bn, respectively. The company also estimated non-credit transaction amounts with OCBC Bank and its affiliates. These transactions adhere to general commercial principles and market pricing.