Bank of Qingdao Co., Ltd. (abbr. “BQD”) announced that major shareholder Qingdao Haier Industrial Development Co., Ltd. (“Haier Industrial Development”) has completed its previously disclosed share-reduction plan.

Between 8 July and 14 July 2026, Haier Industrial Development disposed of 107.09 million A-shares in BQD via block trades at an average price of RMB 5.21 per share, with individual transaction prices ranging from RMB 5.20 to RMB 5.23. The divestment represents 1.84% of BQD’s total share capital.

Post-transaction, Haier Industrial Development holds 425.51 million BQD shares, equal to 7.31% of the bank’s outstanding shares. Together with its concert-party affiliates—including Qingdao Haier Air-Conditioner Electronics, Haier Smart Home, Qingdao Manniq Intelligent Technology, Qingdao Haier Tooling Development, Qingdao Haier Air-Conditioner, and Qingdao Haier Special Freezer—the group now owns 948.78 million shares, or 16.30% of BQD’s share base. Prior to the reduction, the concert-party group held 1.06 billion shares, equivalent to 18.14%.

BQD confirmed that the sell-down adheres to the Company Law, Securities Law, relevant Shenzhen Stock Exchange regulations, and the initially disclosed reduction plan. The bank reiterated that it has no controlling shareholder or de facto controller, and the completed transaction does not alter its governance structure or day-to-day operations.

The board is chaired by Mr. Jing Zailun; the current composition includes four executive directors, five non-executive directors, and five independent non-executive directors.