Kinwong Electronics to early redeem convertible bonds

Minsheng Securities, as the sponsor institution for Shenzhen Kinwong Electronic's convertible bonds, confirmed the company's "Jing23 convertible bond" has triggered its conditional early redemption clause. This was due to the company's stock price meeting the redemption criteria. Specifically, the closing price was not less than 130% of the current conversion price for at least 15 trading days within any 30 consecutive trading days.

The redemption decision by Shenzhen Kinwong Electronic’s board of directors follows previous instances where the company chose not to exercise its early redemption right. On February 19, 2025, and subsequently after August 19, 2025, the board decided against redemption despite the trigger being met. However, on September 9, 2025, the fifth board of directors' fourth meeting approved the early redemption, acknowledging the trigger was met again between August 20, 2025, and September 9, 2025.

The "Jing23 convertible bond" was issued on April 4, 2023, with a total value of CNY 115,400,000.00 and an initial conversion price of CNY 25.71 per share, later adjusted to CNY 23.91 per share. Minsheng Securities verified that the early redemption process aligns with relevant regulations and the terms of the bond's prospectus.