证券代码：601128 证券简称：常熟银行 公告编号：2025-043 重要内容提示： 因实施2025年中期权益分派,本行的相关证券停复牌情况如下： ■ 经中国证券监督管理委员会核准，本行于2022年9月15日公开发行了60亿元可转换公司债券，转债简 称"常银转债"，转债代码"113062"。"常银转债"存续期6年，转股的起止时间为2023年3月21日起至2028 年9月14日，初始转股价格为人民币8.08元/股。 一、转股价格调整依据 转债代码：113062 转债简称：常银转债 江苏常熟农村商业银行股份有限公司 关于根据2025年中期利润分配方案 调整A股可转换公司债券转股价格的公告 江苏常熟农村商业银行股份有限公司（以下简称"本行"）董事会及全体董事保证本公告内容不存在任何 虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 2025年6月30日，本行2025年第二次临时股东大会审议通过《提请股东大会授权董事会决定2025年中期 利润分配方案》，授权董事会在符合利润分配条件下,制定并实施具体的2025年中期利润分配方案。 2025年8月7日，本行第八届董事会第十四次会 ...

证券代码：601128 证券简称：常熟银行 公告编号：2025-043 转债代码：113062 转债简称：常银转债 江苏常熟农村商业银行股份有限公司 关于根据 2025 年中期利润分配方案 调整 A 股可转换公司债券转股价格的公告 江苏常熟农村商业银行股份有限公司（以下简称"本行"）董事会及全体董事 保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的 真实性、准确性和完整性承担个别及连带责任。 重要内容提示： ? 调整前转股价格：6.04 元/股 因实施 2025 年中期权益分派,本行的相关证券停复牌情况如下： 证券代码 证券简称 停复牌类型 停牌起始日 停牌期间 停牌终止日 复牌日 经中国证券监督管理委员会核准，本行于 2022 年 9 月 15 日公开发行了 60 亿 元可转换公司债券，转债简称"常银转债"，转债代码"113062"。"常银转债" 存续期 6 年，转股的起止时间为 2023 年 3 月 21 日起至 2028 年 9 月 14 日，初始 转股价格为人民币 8.08 元/股。 一、转股价格调整依据 根据《募集说明书》相关约定，在可转债发行之后，当本行派送现金股利时， 本行 ...

Group 1 - The company will stop the conversion of "Changyin Convertible Bonds" during the implementation of the 2025 mid-term profit distribution plan, with resumption of conversion on the first trading day after the equity registration date [1][2] - The 2025 mid-term profit distribution plan includes a cash dividend of 1.50 yuan (before tax) for every 10 shares held by registered ordinary shareholders, based on the total share capital as of the equity registration date [1][2] - The company will announce the implementation of the 2025 mid-term profit distribution and the adjustment of the conversion price for "Changyin Convertible Bonds" on September 2, 2025 [2] Group 2 - The suspension of the conversion of "Changyin Convertible Bonds" will occur from September 1, 2025, until the equity registration date, with the last day for bondholders to convert being August 29, 2025 [2] - The board of directors has been authorized to determine the specific profit distribution plan in accordance with the profit distribution conditions [1]

8月7日晚间，齐鲁银行发布公告称，8月8日为齐鲁转债最后一个交易日，8月13日为齐鲁转债最后一个 转股日。提前赎回完成后，齐鲁转债将于8月14日在上交所摘牌。 齐鲁转债将是今年第五只摘牌的银行转债，齐鲁转债退市后，银行可转债将仅剩7只。 今年10月，一旦 浦银转债到期摘牌，银行转债的规模将降至1000亿元之下，若假设常银转债、上银转债能够完成促转 股，年末剩余兴业转债、重银转债、青农转债、紫银转债4只转债合计剩余规模约639亿元，银行转债的 稀缺性进一步提升。 齐鲁转债即将退市 齐鲁银行提示，投资者所持齐鲁转债除在规定时限内通过二级市场继续交易或按5元/股的转股价格进行 转股外，仅能选择以100元/张的票面价格加当期应计利息（合计100.7068元/张）被强制赎回。若被强制 赎回，投资者可能面临较大损失。 齐鲁转债原为2028年到期，因正股股价上涨，触发了该债券的强制赎回条款。齐鲁银行在公告中表示， 6月3日至7月4日期间，公司股票已有15个交易日收盘价不低于齐鲁转债当期转股价格的130%（含 130%），已触发齐鲁转债有条件赎回条款。 信达证券分析师张晓辉表示， 齐鲁转债完成转股后，将有利于进一步补充核心一 ...

Group 1 - The company will hold its second extraordinary general meeting of shareholders on June 30, 2025 [1] - The meeting will utilize a combination of on-site and online voting methods [1] - The online voting system will be provided by the Shanghai Stock Exchange, with voting available from 9:15 AM to 3:00 PM on the day of the meeting [1][2] Group 2 - The company plans to change its registered capital from RMB 3,014,978,914 to RMB 3,316,485,099 due to the conversion of convertible bonds and profit distribution [20] - The company will modify relevant clauses in its Articles of Association to reflect the change in registered capital [21] - The proposed changes will require approval from the general meeting of shareholders and the regulatory authority [21][28] Group 3 - The board of directors approved several proposals, including the mid-year profit distribution plan and the merger with Jiangsu Rudong Rongxing Village Bank [25][30] - The establishment of a new branch in Suzhou focused on technology finance was also authorized [31] - The board meeting was conducted in compliance with legal regulations, with all directors present [24]

Group 1 - The company has approved a change in registered capital and corresponding amendments to its Articles of Association due to the implementation of the 2024 profit distribution plan and the conversion of convertible bonds into shares [1][2] - The registered capital will be increased from RMB 3,014,978,914 to RMB 3,316,485,099 as a result of the conversion of 52,000 yuan of convertible bonds into 7,540 shares [1][2] - The company plans to modify the relevant clauses in its Articles of Association to reflect the new registered capital amount, while other provisions will remain unchanged [2]

Core Viewpoint - Hangzhou Bank has announced the early redemption of its convertible bonds, indicating a potential further shrinkage in the scale of bank convertible bonds in China [1][7]. Group 1: Early Redemption Announcement - Hangzhou Bank triggered the conditional redemption clause for its convertible bonds (Hangyin Convertible Bonds) on May 26, as the stock price exceeded the conversion price for 15 trading days [3][5]. - The conversion price for the bonds is set at 11.35 CNY, while the stock price reached a new high of 16.02 CNY on May 27, resulting in a conversion premium rate of approximately -0.11% [1][3]. Group 2: Financial Implications - The early redemption allows Hangzhou Bank to utilize the funds to strengthen its capital base, enhancing its financial stability [1][7]. - The mechanism of forced redemption is designed to protect both the issuing company and investors, while also maintaining market stability [5]. Group 3: Market Trends - The market for bank convertible bonds has been declining, with several small and medium-sized banks opting for early redemption as their stock prices rise [7][10]. - Currently, there are only 10 types of bank convertible bonds remaining in the market, indicating a significant reduction in the overall scale of bank convertible bonds [8][9].

Core Viewpoint - The continuous strength in the banking sector has led to multiple bank convertible bonds being redeemed early, with Hangzhou Bank's convertible bond being the third to exit the market this year due to favorable stock performance [1][2]. Group 1: Early Redemption of Convertible Bonds - Hangzhou Bank announced the early redemption of its convertible bond, triggering the conditional redemption clause as the stock price exceeded 130% of the conversion price for 15 trading days [2]. - The bond, issued on March 29, 2021, has a total of 150 million units with a face value of 100 yuan each and a maturity of six years, set to expire on March 29, 2027 [2]. - The trend of early redemptions in bank convertible bonds is linked to the recent strong performance of bank stocks, which have improved significantly compared to previous years [2][3]. Group 2: Market Trends and Data - As of May 27, the scale of AAA-rated convertible bonds has shrunk to approximately 252.73 billion yuan, down from 291.27 billion yuan at the end of 2024, indicating a reduction of nearly 40 billion yuan in less than six months [4]. - The market currently has 10 bank convertible bonds, with the total scale potentially decreasing from around 170 billion yuan to approximately 100 billion yuan due to accelerated redemptions [6]. - The lack of new bank convertible bond issuances since 2023, combined with the upcoming maturity of existing bonds, is expected to lead to a rapid contraction in the scale of bank convertible bonds by 2025 [7].

Core Viewpoint - Hangzhou Bank has decided to exercise the early redemption rights of its convertible bonds, marking the third bank convertible bond to be redeemed early this year, following Chengyin and Suhang convertible bonds [1][3]. Group 1: Early Redemption of Hangzhou Bank Convertible Bonds - Hangzhou Bank's convertible bonds (Hangyin Convertible Bonds) will be redeemed at face value plus accrued interest, as the stock price has exceeded 130% of the conversion price for 15 trading days [3][4]. - The Hangyin Convertible Bonds were issued on March 29, 2021, with a total of 150 million bonds, each with a face value of 100 yuan, and a maturity date of March 29, 2027 [4]. Group 2: Market Context and Trends - The early redemption of bank convertible bonds is linked to the recent strong performance of bank stocks, which have seen a significant recovery from previous undervaluation [4]. - Hangzhou Bank's stock has increased over 70% since the beginning of 2024, contributing to the favorable conditions for early redemption [4]. Group 3: Trends in AAA-rated Convertible Bonds - The scale of AAA-rated convertible bonds has decreased from 2,912.69 billion yuan at the end of 2024 to approximately 2,527.34 billion yuan as of May 27, 2023, a reduction of nearly 400 billion yuan in less than six months [7][8]. - The number of AAA-rated convertible bonds has also decreased, indicating a shrinking market for high-quality convertible bonds [8]. Group 4: Supply and Demand Dynamics - The demand for bank convertible bonds is expected to strengthen due to regulatory changes that emphasize performance benchmarks for public funds, leading to a potential decrease in the total outstanding amount of bank convertible bonds from around 1,700 billion yuan to approximately 1,000 billion yuan [9]. - The lack of new bank convertible bond issuances since 2023, combined with the upcoming maturity of existing bonds, is likely to create a supply-demand imbalance in the market [10].

Core Points - The company announced an adjustment to the conversion price of its convertible bonds due to the 2024 profit distribution plan, changing from RMB 6.89 per share to RMB 6.04 per share [1][3] - The adjustment will take effect on June 5, 2025, coinciding with the resumption of trading for the convertible bonds [1][3] Summary by Sections Conversion Price Adjustment Basis - The adjustment is based on the decision made during the 2024 annual shareholders' meeting held on April 25, 2025, where the company approved a profit distribution plan that includes a cash dividend of RMB 2.50 per 10 shares and a capital reserve increase of 1 share for every 10 shares held [2] - The record date for the profit distribution is set for June 4, 2025, with the cash dividend payment and the listing of new shares occurring on June 5, 2025 [2] Conversion Price Adjustment Formula and Results - The adjustment formula for the conversion price is specified in the bond issuance prospectus, which accounts for stock dividends, cash dividends, and capital increases [2] - The new conversion price of RMB 6.04 per share reflects the adjustments made according to the profit distribution plan [2][3]