After a three-year fixed increase plan was extended twice, it finally came to an end with an “automatic failure.” Recently, the Bank of Hangzhou issued an announcement stating that the total amount of capital raised by the bank will not exceed 8 billion yuan, and that the plan to issue A-shares to specific targets will expire and end. The Bank of Hangzhou responded to a reporter saying that during the validity period of the fixed increase plan, the bank continued to track capital market trends and changes in industry valuations, normalized contacts with interested investors, dynamically assessed the issuance window, and promoted preparations related to issuance in due course. With the implementation of convertible debt-for-equity swaps and the continued retention of endogenous profits, the Bank of Hangzhou's core capital continues to be consolidated, and existing capital reserves can match the pace of business development. When the fixed increase plan expires, it automatically expires. This is a situation where the listed company's capital operation is normal. The bank chose not to extend it as an optimization arrangement made in line with its own reality. (China Securities News)

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.