Xinhua Chemical: Shareholder reduces convertible bond holdings

Zhejiang Xinhua Chemical announced that JianDe State-owned Assets Management Co., Ltd., a shareholder holding over 5% of the company, decreased its holdings by selling convertible bonds. Between February 6 and February 17, 2025, JianDe State-owned Assets Management Co., Ltd. sold 410,000 convertible bonds through the Shanghai Stock Exchange, representing 6.3% of the total issued. This transaction reduced JianDe State-owned Assets Management Co., Ltd.’s combined equity in Xinhua Chemical from 16.91% to 15.98%. The company confirmed that this reduction does not trigger a takeover offer and will not result in a change of the company’s actual controller.