CBHB (09668.HK): RMB 35.4 Billion Deal Closes Transfer of RMB 50.543 Billion Loan Claims

NewTimeSpace News: On 13 November 2026, CBHB (09668.HK) said that, within the mandate granted by shareholders, it had listed part of the transfer assets on the Tianjin Property Rights Exchange and signed a formal asset transfer agreement with the final transferee, Tianjin Jinrong Asset Management Co., Ltd., completing the transfer of loan claims totalling RMB 50.543 billion for a consideration of RMB 35.4 billion, about 70% of the claims.

The claims correspond to principal of about RMB 34.836 billion as at 31 December 2024, interest of about RMB 7.606 billion, penalty interest of about RMB 8.001 billion and advanced judicial costs of about RMB 100 million, the announcement said. The consideration meets the circular's principle that the final consideration should be no less than 70% of the final claims, and the agreement terms are unchanged from the circular apart from the actual amount.

Shareholders approved the proposed disposal and the mandate at the third extraordinary general meeting of 2025 held on 14 November 2025. The mandate expires on 13 November 2026, all transfers under it have been completed and the consideration has been paid in full; the proceeds will be used for the Bank's general working capital, and the Bank will not seek an extension given changes in market conditions.

Tianjin Jinrong is a limited liability company incorporated in China on 25 April 2016 that mainly engages in asset management and financial, legal and risk management advisory services, with the State-owned Assets Supervision and Administration Commission of Tianjin Municipal People's Government as its ultimate beneficial owner; it is an independent third party to the Bank and its connected persons. The board said the transaction will not have a material impact on the Bank's profit, assets and liabilities for the year, subject to audit confirmation.