Tongwei reports Q3 net loss narrows, convertible bond adjustment nears

Tongwei Co. Ltd. announced a net loss attributable to shareholders of RMB 314,795,428.36 for the third quarter of 2025, a 62.69% improvement year-over-year. Year-to-date, net loss attributable to shareholders was RMB 5,270,164,913.01, a 32.64% increase from the prior period, despite a 1.57% decrease in Q3 operating revenue to RMB 24,090,912,049.15. The company's total assets reached RMB 201,315,299,983.29, up 2.76% from the end of last year.

The company also disclosed that its "Tongwei 22 Convertible Bond" (110085) is expected to meet the conditions for a conversion price adjustment. Between October 11 and October 24, 2025, the company's stock closed below 85% of its current conversion price for 10 trading days. If the stock continues this trend for an additional 5 trading days within 20 trading days, the conversion price adjustment clause will be triggered. The board has previously decided against adjustments, with the last such resolution on July 10, 2025.

In other news, Tongwei's 2021-2023 employee stock ownership plan, holding 76,499,840 shares, will be extended for another 36 months, pushing its expiration to February 24, 2029. This decision, approved by the plan’s holders and the board, reflects confidence in the company's long-term development.