Bank of Zhengzhou Co.,Ltd. announced on December 25 its intention to acquire shares of Yanling Zhengyin Rural Bank Co., Ltd. held by other shareholders through a cash transaction. Concurrently, the bank plans to restructure Yanling Zhengyin Rural Bank into its own branch network via an absorption merger. Upon completion of the acquisition, Bank of Zhengzhou will assume all assets, liabilities, operations, personnel, and other rights and obligations of Yanling Zhengyin Rural Bank. The rural bank will subsequently be dissolved, and its legal entity status will be revoked.
The proposed acquisition has received approval during the Eighth Board of Directors' Tenth Interim Meeting for the year 2025. The transaction remains subject to final authorization from regulatory authorities before implementation.
This acquisition does not qualify as a connected transaction nor does it constitute a major asset reorganization as defined by the "Administrative Measures for Major Asset Reorganizations of Listed Companies." The transaction is expected to have a minimal impact on the bank's operational condition and will not significantly affect its financial performance.
