Bank of Zhengzhou (06196) announced that prior to the acquisition, it held 51 million shares, representing a 51% stake, in Junxian Zhengyin Rural Bank Co., Ltd. The bank intends to acquire the remaining 49 million shares (49% stake) held by other shareholders of Junxian Zhengyin Rural Bank in cash. Additionally, the bank will restructure Junxian Zhengyin Rural Bank into its branch through a merger by absorption.

Bank of Zhengzhou will pay the acquisition consideration to the shareholders who have signed the share purchase agreement. For shareholders who have not signed the agreement, the bank will pay the merger consideration under the absorption agreement signed with Junxian Zhengyin Rural Bank.

Upon completion of the acquisition, Bank of Zhengzhou will assume all assets, liabilities, business operations, personnel, and other rights and obligations of Junxian Zhengyin Rural Bank. The latter will be dissolved due to the merger, and its legal entity status will be deregistered. The acquisition is subject to regulatory approval before implementation.