Group 1 - The core point of the announcement is the adjustment of the conversion price for the company's convertible bonds due to the profit distribution plan for the year 2024 [1][2] - The conversion price before adjustment was set at RMB 4.12 per share, which will be adjusted to RMB 4.00 per share [1][2] - The effective date for the new conversion price will be July 9, 2025, following the equity distribution date of July 8, 2025 [1][2] Group 2 - The company issued a total of RMB 5 billion in A-share convertible bonds on August 25, 2020, under the name "Qingnong Convertible Bonds" [2] - According to the company's regulations, the conversion price is adjusted based on the formula: P1 = P0 - D, where P0 is the initial conversion price, D is the cash dividend per share, and P1 is the adjusted conversion price [2] - The cash dividend distribution will be RMB 1.20 per 10 shares for shareholders registered after the market closes on July 8, 2025, with no stock bonus or capital increase [1][2]

Core Viewpoint - Qingdao Rural Commercial Bank has announced its 2024 annual profit distribution plan, which includes a cash dividend of RMB 1.20 per 10 shares for shareholders, approved during the shareholders' meeting held on June 25, 2025 [1][2]. Summary by Sections Shareholders Meeting Approval - The profit distribution plan was approved at the shareholders' meeting on June 25, 2025, proposing a cash dividend of RMB 1.20 per 10 shares, with no stock bonus or capital increase [1][2]. Dividend Distribution Details - The cash dividend will be distributed based on the total share capital as of the record date (July 8, 2025), with a net dividend of RMB 1.08 for certain investors after tax deductions [2][3]. - The distribution will not involve withholding personal income tax for individual shareholders until the transfer of shares, where tax will be calculated based on the holding period [2][3]. Record and Ex-Dividend Dates - The record date for the dividend distribution is set for July 8, 2025, and the ex-dividend date is July 9, 2025 [2][3]. Dividend Recipients - The dividend will be distributed to all shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, as of the record date [3]. Distribution Method - Cash dividends for A-share shareholders will be directly credited to their accounts through their securities companies on the ex-dividend date [3]. - The bank will bear all legal responsibilities if there are insufficient funds for dividend distribution due to a decrease in shares held by self-distributing shareholders [3]. Convertible Bond Adjustment - The conversion price of the bank's convertible bonds will be adjusted in accordance with the profit distribution plan, with further details provided in a separate announcement [3].

Summary of Key Points Core Viewpoint - Qingdao Rural Commercial Bank has reported the results of its convertible bond conversion and share changes for the second quarter of 2025, indicating limited conversion activity and adjustments to the conversion price over time [1][2][4]. Group 1: Convertible Bond Conversion Status - As of June 30, 2025, a total of RMB 310,100 worth of Qingnong convertible bonds have been converted into 63,685 shares, representing 0.0011% of the total issued ordinary shares prior to conversion [1]. - The remaining balance of unconverted Qingnong convertible bonds as of June 30, 2025, is RMB 49,996,899 [4]. Group 2: Convertible Bond Issuance Overview - The bank issued 50 million convertible bonds on August 25, 2020, with a face value of RMB 100 each, totaling RMB 5 billion, and an initial conversion price of RMB 5.74 per share [1][2]. - The conversion price has been adjusted multiple times due to annual profit distributions, with the latest adjustment reducing the price from RMB 4.12 to RMB 4.00 per share, effective from July 9, 2025 [4]. Group 3: Share Changes - From April 1, 2025, to the end of the second quarter, the number of shares decreased by 20 due to bond conversions, resulting in a total share count of 5,555,619,241 as of June 30, 2025 [5]. - The proportion of unrestricted circulating shares remained stable at 88.91% despite the minor changes in total share count [5].

| 证券代码：002958 | 证券简称：青农商行 公告编号：2025-030 | | --- | --- | | 转债代码：128129 | 转债简称：青农转债 | 青岛农村商业银行股份有限公司 2024年年度权益分派实施公告 本行及董事会全体成员保证公告内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 青岛农村商业银行股份有限公司（以下简称本行）2024年年度权益分派方案 已经2025年6月25日召开的本行2024年度股东大会审议通过，现将权益分派事宜 公告如下： 一、股东大会审议通过权益分派方案情况 （一）2025年6月25日，本行2024年度股东大会审议通过了《关于青岛农村 商业银行股份有限公司2024年度利润分配方案的议案》：本行拟以本次实施权益 分派股权登记日的总股本为基数，向收市后登记在册的普通股股东每10股派发现 金红利人民币1.20元（含税），不送股，不转增股本。 （二）由于本行发行的可转债处于转股期，在本次权益分派股权登记日前本 行总股本发生变动的，拟维持每股分配金额不变，相应调整分配现金红利总额。 （三）本次实施的分配方案与股东大会审议通过的分配方案一致。 （四）本次实施分 ...

证券代码：002958 证券简称：青农商行 公告编号：2025-031 转债代码：128129 转债简称：青农转债 本行及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 青岛农村商业银行股份有限公司 关于根据 2024 年度利润分配方案调整 A 股可转换 公司债券转股价格的公告 1 派送现金股利：P1=P0-D 以上公式中：P0 为初始转股价格，D 为每股派送现金股利，P1 为调整后转股 价。 因本行 2024 年度利润分配，青农转债转股价格自调整前 4.12 元/股调整为 4.00 元/股，调整后的转股价格自 2025 年 7 月 9 日（除权除息日）起生效。 青岛农村商业银行股份有限公司董事会 重要内容提示： 青农转债调整前的转股价格：人民币 4.12 元/股 青农转债调整后的转股价格：人民币 4.00 元/股 青农转债本次转股价格调整实施日期：2025 年 7 月 9 日 2025 年 6 月 25 日，本行 2024 年度股东大会审议通过了本行 2024 年度利润分配 方案，本行拟以本次权益分派股权登记日（2025 年 7 月 8 日）的总股本为基数，向 收市后 ...

| 证券代码：002958 | 证券简称：青农商行 | 公告编号:2025-032 | | --- | --- | --- | | 转债代码：128129 | 转债简称：青农转债 | | 青岛农村商业银行股份有限公司 关于 2025 年第二季度可转债转股结果暨股份变动公告 本行及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 特别提示： 可转债转股情况：截至 2025 年 6 月 30 日，累计已有人民币 310,100 元青农转债 转为本行 A 股普通股，累计转股股数为 63,685 股，占青农转债转股前本行已发行普 通股股份总额的 0.0011%。 未转股可转债情况：截至 2025 年 6 月 30 日，尚未转股的青农转债金额为人民币 4,999,689,900 元，占青农转债发行总量的比例为 99.9938%。 根据《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管指引 第 15 号——可转换公司债券》的有关规定，青岛农村商业银行股份有限公司（以下 简称本行）现将自 2025 年 4 月 1 日至 2025 年第二季度末可转换公司债券（以下简称 可转债 ...

Core Viewpoint - As of June 30, 2025, a total of RMB 310,100 (31.01 million) of Qingnong Convertible Bonds have been converted into the bank's A-share common stock, with a total of 63,685 shares converted, representing 0.0011% of the total common shares issued prior to the conversion of Qingnong Convertible Bonds [1] Summary by Category - **Convertible Bonds Status** - The amount of Qingnong Convertible Bonds that have not yet been converted stands at RMB 5 billion, accounting for 99.9938% of the total issuance of Qingnong Convertible Bonds [1]

| 证券代码：002958 | 证券简称：青农商行 | 公告编号：2025-029 | | --- | --- | --- | | 转债代码：128129 | 转债简称：青农转债 | | 2.审议并通过《关于调整部分关联方授信方案的议案》。 表决结果为：同意 9 票，反对 0 票，弃权 0 票。 第五届董事会第九次临时会议决议公告 本行及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 青岛农村商业银行股份有限公司于 2025 年 6 月 27 日以书面传签方式召开第五届 董事会第九次临时会议。会议通知已于2025年6月20日以电子邮件及书面方式发出。 会议应参加表决董事 10 人，实际参加表决董事 10 人。会议的召开及表决程序符合《中 华人民共和国公司法》及《公司章程》的有关规定。 会议审议通过了以下议案： 1.审议并通过《关于青岛农村商业银行股份有限公司 2025 年二三季度预期信用损 失法模型和参数方案的议案》。 表决结果为：同意 10 票，反对 0 票，弃权 0 票。 青岛农村商业银行股份有限公司 关联董事杨延亮回避本议案表决。本议案已经董事会风险管理与关联交易 ...

Core Viewpoint - Qingdao Rural Commercial Bank has received shareholder approval for the absorption and merger of three village banks, which will be converted into branch institutions, indicating a strategic move to enhance financial service capabilities and risk management [2][3][6]. Summary by Relevant Sections Mergers and Acquisitions - Qingdao Rural Commercial Bank's shareholders approved the merger of Qingdao Pingdu Huimin Village Bank, Shandong Yinan Lanhai Village Bank, and Jining Lanhai Village Bank, converting them into branch institutions [3][4]. - The three acquired village banks are wholly owned subsidiaries of Qingdao Rural Commercial Bank, with ownership stakes of 100%, 100%, and 95% respectively [6]. Financial Performance - As of the end of 2024, the three village banks reported significant losses: Qingdao Pingdu Huimin Village Bank had a net loss of 1.509 million yuan, Shandong Yinan Lanhai Village Bank lost 4.056 million yuan, and Jining Lanhai Village Bank faced a net loss of 19.157 million yuan [6]. Industry Trends - The "village to branch" reform is gaining traction, with several banks, including Jining Bank, Anshan Bank, and Guizhou Bank, also acquiring village banks and converting them into branches [7]. - The recent approval for Industrial and Commercial Bank of China to acquire Chongqing Bishan Rural Bank and establish a new branch reflects a broader trend among major banks to consolidate and enhance their operational structures [7]. Risk Management and Reform - The "village to branch" initiative is seen as a crucial method for addressing risks and restructuring village banks, thereby improving their ability to provide financial services and manage risks effectively [8][9]. - The regulatory framework supports this transition, allowing high-risk village banks to be converted into branches if the main initiating bank has a local presence, thereby ensuring continued financial service availability [8].

Investment Rating - The report maintains an "Overweight" rating for the banking sector, indicating a positive outlook for bank stocks despite recent short-term corrections [4]. Core Insights - The banking sector is expected to maintain its performance due to the relative advantage of dividend yields, stable earnings, and predictable dividends. The average dividend yield for major state-owned banks is 4.07%, with a significant spread of 2.42% over the 10-year government bond yield, placing it in the 49.10th percentile over the past decade [1][17]. - The report highlights that the insurance sector is likely to increase its allocation to high-dividend bank stocks, especially with anticipated reductions in preset interest rates for insurance products [1]. - The report anticipates a stable profit growth for banks, with a projected profit growth rate of 2.35% for listed banks in 2024, supported by substantial unrealized gains from self-owned bonds and a robust provisioning coverage ratio of 238% as of Q1 2025 [3][7]. Summary by Sections Section 1: Market Performance - The banking index experienced a nearly 3% decline on June 27, 2025, but the overall market sentiment remains positive due to the sector's dividend yield advantages and stable earnings [1]. Section 2: Fund Flows - Since the beginning of 2025, southbound funds have significantly increased their allocation to Hong Kong bank stocks, with a net inflow of approximately 680 billion yuan, of which 146.2 billion yuan is directed towards bank stocks [2]. Section 3: Earnings Stability - Historical data indicates that the banking sector has low earnings volatility, with profits showing stable positive growth. The report emphasizes the importance of unrealized gains from bond investments and strong provisioning as key factors supporting profit stability [3][7][8]. Section 4: Sector Outlook - The report suggests that while short-term export impacts may arise from tariff policies, long-term domestic policies aimed at stabilizing the real estate market and boosting consumption will benefit the banking sector. Specific banks such as Ningbo Bank, Postal Savings Bank, and China Merchants Bank are highlighted as potential investment opportunities [9]. Section 5: Key Data Tracking - The report includes various financial metrics, such as the average daily trading volume of stocks at 14,868.42 billion yuan and a margin balance of 1.83 trillion yuan, indicating active market engagement [10].