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[Introduction] Chengdu Bank plans to purchase a new office building for 1.778 billion yuan.

China Fund News reporter Yishan

On the evening of August 8, Chengdu Bank issued an announcement, disclosing the latest progress of the bank's purchase of an office building. Chengdu Bank has recently signed a purchase contract, with the total transfer price tentatively set at no more than 1.778 billion yuan.

The total transfer price is expected to be no more than 1.778 billion yuan

The announcement shows that in order to effectively alleviate the shortage of office space, integrate office resources, improve office efficiency, optimize resource allocation, and promote the company's long-term, sustainable and stable development, in February 2021, Chengdu Bank announced that it would sign a framework cooperation agreement with Chengdu Jiaozi Park Financial Business District Investment Development Co., Ltd. (hereinafter referred to as Jiaozi Investment Company) to purchase its newly built commercial housing located in the Chengdu Jiaozi Park Financial Business District. The commercial housing will be used for the company's headquarters office.

On March 25 this year, the board of directors of Chengdu Bank reviewed and approved the "Proposal on the Purchase of Fixed Assets and Related Transactions with the Related Party Chengdu Jiaozi Park Financial Business District Investment and Development Co., Ltd."

Recently, Chengdu Bank signed a contract with its affiliated company Jiaozi Investment Company to purchase a house. The Asset Appraisal Report shows that the total construction area of ​​the real estate project is 125,100 square meters, and the land use right area is 18,950 square meters. The assessed value is 1.788 billion yuan (including 292 million yuan for secondary decoration).

In the previous announcement, Chengdu Bank said that the transaction amount is expected to be no more than 1.82 billion yuan. In the latest announcement disclosed on August 8, Chengdu Bank stated that the transaction price was determined on the principle of fairness and on terms no better than similar transactions with non-related parties. As the project is still under construction, the total transfer price of this transaction is tentatively set at no more than 1.778 billion yuan. The final transaction price will be determined based on the financial final audit and the transfer price final audit, and the two parties will settle the payment based on the actual situation. Chengdu Bank will pay in 7 installments based on the progress of the project construction and the progress of the license.

Chengdu Bank also stated that after the head office moves into the new office building, the original head office building located at No. 16 Xiyu Street, Chengdu will not be rented out or sold for the time being, and will be used for its own office use according to overall arrangements as needed.

Successfully issued RMB10.6 billion of secondary capital bonds

According to data, Bank of Chengdu was established in December 1996 and went public in January 2018, becoming the first listed bank in Sichuan Province and the eighth A-share listed city commercial bank in China. Currently, Bank of Chengdu has a total of 256 branches.

In recent years, Chengdu Bank has maintained a relatively stable performance. In the first quarter of this year, the bank's revenue was 5.638 billion yuan, a year-on-year increase of 6.27%; net profit attributable to the parent company was 2.851 billion yuan, a year-on-year increase of 12.83%. As of the end of the first quarter, Chengdu Bank's total assets were 1.18 trillion yuan, an increase of 8.01% from the end of the previous year.

In terms of asset quality, as of the end of the first quarter, the bank's non-performing loan ratio was 0.66%, down 0.02 percentage points from the end of last year; the provision coverage ratio was 503.81%.

Chengdu Bank also successfully issued 10.6 billion yuan of secondary capital bonds recently. According to the announcement on August 7, the bonds are 10-year fixed-rate bonds with a conditional issuer redemption right at the end of the fifth year, and the face interest rate is 2.19%.

As of the close of August 8, Chengdu Bank's share price was 14.12 yuan per share, down 0.56%, and its latest market value was 53.9 billion yuan.

Editor: Xiaomo

Reviewer: Chen Siyang

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