Jin Rong Jie·2026-03-13 10:41Core Viewpoint - China Merchants Bank plans to fully redeem its "Zhaoyin You 1" domestic preferred shares on April 15, 2026, with a total redemption amount of 27.5 billion yuan, having received regulatory approval and internal authorization for the process [1][2]. Group 1: Redemption Details - The preferred shares, issued in December 2017, consist of 275 million shares with a par value of 100 yuan each, raising a total of 27.5 billion yuan [1]. - The initial dividend rate for these preferred shares was set at 4.81%, with dividends adjusted every five years and no cumulative dividend feature [1]. - The redemption price will include the par value plus accrued dividends calculated from December 18, 2025, to April 15, 2026 [2]. Group 2: Compliance and Authorization - The redemption process has completed all necessary authorization and regulatory filings, with approvals from the 2016 and 2017 shareholder meetings [2]. - The board of directors has been authorized to handle all matters related to the payment of dividends and the redemption of the preferred shares [2]. - The company will adhere to relevant laws and regulations throughout the redemption process and will fulfill its information disclosure obligations to protect shareholders' rights [3].