China Merchants Bank Co., Ltd. (CM Bank, H-share code: 03968) announced board approval and regulatory clearance to redeem in full its 275 million outstanding domestic preference shares (“Zhao Yin You 1”, stock code 360028) on 15 April 2026.

Issued in December 2017 via a non-public placement, the preference shares raised RMB27.50 billion and were structured with contractual terms that allow early redemption subject to regulatory consent. The National Financial Regulatory Administration has issued a formal “no-objection” reply, enabling CM Bank to proceed.

Pursuant to shareholder mandates granted at the 2016 Annual General Meeting and updated in 2021, the board—represented by Executive Director & President Wang Liang and Non-Executive Director Zhu Eric Liwei—has exercised its delegated authority to execute the redemption and arrange payment of all accumulated dividends in accordance with the original prospectus.

CM Bank will complete the remaining regulatory procedures and undertake timely disclosure obligations ahead of the scheduled redemption date.