Ningbo Xusheng Group announces Sheng24 convertible bond redemption and delisting

Ningbo Xusheng Group has issued its sixth cautionary announcement regarding the redemption and delisting of its "Sheng24 convertible bond." The redemption registration date is November 13, 2025, with payments distributed on November 14, 2025, at a price of 100.1677 yuan per bond. The last day for trading the Sheng24 convertible bond will be November 10, 2025, and the final conversion date is November 13, 2025. Following redemption, the Sheng24 convertible bond will be delisted from the Shanghai Stock Exchange starting November 14, 2025.

The company's stock price met redemption conditions by closing at or above 130% of the current conversion price of 12.51 yuan per share for at least fifteen trading days between September 16, 2025, and October 15, 2025. Investors are strongly advised to convert or sell their bonds before the deadlines, as the current secondary market price of 119.508 yuan per bond (as of October 31, 2025) is significantly higher than the redemption price, potentially leading to substantial investment losses if not acted upon.

Unconverted Sheng24 convertible bonds will be compulsorily redeemed at 100.1677 yuan per bond, and all such bonds will be frozen after the redemption registration date. Investors with pledged or frozen bonds should resolve these issues before the trading suspension to avoid forced redemption.