Kinwong Electronic to redeem, delist Jing 23 convertible bond

Shenzhen Kinwong Electronic Co., Ltd. has issued a third cautionary announcement regarding the mandatory redemption and delisting of its "Jing 23 convertible bond," effective October 9, 2025. The redemption registration date is September 30, 2025, with redemption payments scheduled for October 9, 2025. The redemption price is set at yuan 100.515 per bond, encompassing the face value plus accrued interest.

Investors are strongly advised to convert their bonds into shares at a conversion price of yuan 23.91 per share or sell them in the secondary market before the final trading day on September 25, 2025, and the final conversion day on September 30, 2025. Given the bond's secondary market closing price of yuan 315.988 on September 22, 2025, and the redemption price of yuan 100.515, investors who fail to act risk substantial financial loss.

The company's decision to proceed with the redemption follows the trigger of the conditional redemption clause, as its stock price consistently met the 130% threshold of the current conversion price between August 20, 2025, and September 9, 2025. After the redemption is completed, the "Jing 23 convertible bond" will be delisted from the Shanghai Stock Exchange on October 9, 2025.