Wujin Convertible Bonds nears redemption, potentially impacting investors

Jiangsu Wujin Stainless Steel Co., Ltd. announced on October 28, 2025, that its "Wujin Convertible Bonds" (bond code: 113671) are nearing their conditional redemption threshold. The bonds were issued on July 10, 2023, with a total value of 310 million yuan and began trading on the Shanghai Stock Exchange on August 3, 2023. The initial conversion price was 8.55 yuan per share, adjusted to 7.93 yuan per share due to 2023 and 2024 annual equity distribution implementations.

The redemption clause states the company can redeem all or part of unconverted bonds if its stock price closes at or above 130% of the current conversion price for at least 15 trading days within any 30 consecutive trading days. As of October 27, 2025, the company's stock price had closed at or above 130% of the current conversion price (10.31 yuan per share) for 10 trading days since October 10, 2025.

If the stock price continues to meet this condition for an additional 5 trading days within the next 18 trading days, the redemption clause will be triggered. The company's board of directors will then decide whether to redeem the unconverted bonds at their face value plus accrued interest. Investors are advised to be aware of the potential impact and monitor further company announcements.