Core Viewpoint - China Construction Bank has announced the issuance of up to 200 billion RMB equivalent of contingent convertible bonds or qualified secondary capital instruments, approved during the first extraordinary shareholders' meeting of 2024 [1] Group 1: Capital Instrument Plan - The bank's shareholders approved a proposal for the issuance of capital instruments amounting to no more than 200 billion RMB [1] - The issuance is aimed at supplementing the bank's secondary capital, subject to applicable laws and regulatory approvals [1] Group 2: Bond Issuance Details - Recently, the bank issued the 2025 second-tier capital bonds (third phase) in the national interbank bond market, with a total issuance scale of 40 billion RMB [1] - The bonds have a fixed interest rate of 2.24% and a maturity of 10 years, with a conditional redemption option for the issuer at the end of the fifth year [1] - The issuance was completed on December 8, 2025, and is part of the bank's strategy to enhance its capital structure [1]

Core Viewpoint - China Construction Bank has announced the issuance of up to 200 billion RMB worth of capital instruments, including contingent convertible bonds and qualified secondary capital tools, to enhance its capital structure [1][2]. Group 1 - The bank's first extraordinary general meeting of shareholders in 2024 will review the proposal for the capital tool issuance plan on April 29, 2024 [1][2]. - The bank has recently issued the third phase of its secondary capital bonds in the interbank bond market, completing the issuance on December 8, 2025 [1][2]. Group 2 - The total issuance size of the current bonds is 40 billion RMB, with a fixed interest rate bond for a term of 10 years [3][5]. - The bonds include a conditional redemption option for the issuer at the end of the fifth year, with a coupon rate set at 2.24% [3][5]. - The funds raised from this bond issuance will be used to supplement the bank's secondary capital, subject to applicable laws and regulatory approvals [5].