CQRC BANK(03618.HK): HKEX Approves Extension of Compliance Grace Period for Independent Non-executive Directors to 31 December 2026

NewTimeSpace News: On 18 June 2026, Chongqing Rural Commercial Bank Co.,Ltd. (03618.HK) released an announcement. Following the unfortunate passing away of one independent non-executive director, the number of the Board’s independent non-executive directors temporarily fails to meet the Listing Rule requirements (a minimum of three INEDs accounting for no less than one-third of the Board). The Bank submitted an application to the Stock Exchange of Hong Kong Limited and has been granted approval to extend the grace period for complying with Listing Rule 3.11 until 31 December 2026.

The Bank nominated Ms. Cao Shinan and Ms. Gao Yang as candidates for independent non-executive directors on 28 April 2026, and their appointment proposals were formally approved at the annual general meeting held on 28 May 2026. Their terms of office shall take effect upon the approval issued by Chongqing Regulatory Bureau of the State Administration of Financial Regulation. As at the date of the announcement, the relevant approval procedures are in normal progress. Upon completion of such approval, the Bank will fully satisfy the relevant requirements under the Listing Rules.