Xusheng convertible bonds face redemption, delisting deadline

Ningbo Xusheng Auto Technology Co., Ltd. has issued a second reminder for the redemption and delisting of its "Sheng 24 convertible bonds." The company's stock triggered a conditional redemption clause after its closing price exceeded 130% of the current conversion price for 15 out of 30 trading days between September 16, 2025, and October 15, 2025.

The redemption registration date is November 13, 2025, with a redemption price of 100.1677 yuan per bond, including accrued interest. The final trading day for "Sheng 24 convertible bonds" is November 10, 2025, and the last conversion day is November 13, 2025. Unconverted bonds after the registration date will be subject to mandatory redemption at 100.1677 yuan per bond, and the bonds will be delisted from the Shanghai Stock Exchange on November 14, 2025.

Given the current market price of 120.048 yuan per bond as of October 27, 2025, which is significantly higher than the redemption price, investors who fail to convert their bonds (at a conversion price of 12.51 yuan per share) or sell them by the deadline could face substantial investment losses. The company advises bondholders to convert or sell their bonds promptly.