Torch Electronics to redeem "Torch convertible bonds" early

Fujian Torch Electron Technology (SSE:603678) announced its decision to exercise the early redemption right for its "Torch Convertible Bonds" following a board resolution on March 24, 2025. The redemption will cover all bonds registered on the record date at a price of par value plus accrued interest. Bondholders have the option to either trade their bonds on the secondary market or convert them to shares at a conversion price of CNY 23.89 per share. Investors who do not convert or sell their bonds before the deadline will be subject to compulsory redemption at CNY 100 per bond plus accrued interest, and may face potential investment losses. The company urged bondholders to pay close attention to the redemption timeline and procedures, which will be disclosed in further announcements.