Jiangsu Xinquan to redeem and delist Xin 23 convertible bonds

Jiangsu Xinquan Automotive Trim Co., Ltd. has triggered the early redemption clause for its "Xin 23 convertible bonds," with the redemption registration date set for October 29, 2025. The final trading day for the convertible bonds will be October 24, 2025, and the last conversion day will be October 29, 2025. The redemption price is set at CNY 100.2192 per bond, which includes the face value of CNY 100 and accrued interest of CNY 0.2192.

The company's stock price met the redemption conditions between September 8, 2025, and September 29, 2025, with closing prices at or above 130% of the current conversion price of CNY 50.75 per share, specifically CNY 65.98 per share. Following the redemption, "Xin 23 convertible bonds" will be delisted from the Shanghai Stock Exchange starting October 30, 2025. Bondholders who do not convert or sell their bonds by the deadline risk being subject to the mandatory redemption, potentially incurring significant losses.

Individual investors are subject to a 20% income tax on interest earned, resulting in a net payout of CNY 100.1754 per bond after tax. The company urges all bondholders to convert their bonds into shares or sell them on the secondary market within the stipulated timeframe to optimize their investment.