Red Avenue New Materials to redeem, delist TCC convertible bonds

Red Avenue New Materials Group Co., Ltd. has initiated the early redemption of its TCC Convertible Bonds (113621) due to a conditional redemption clause being triggered. The company's stock price met the redemption criteria, trading at or above 130% of the current conversion price (RMB 40.443/share) for 15 trading days between September 24 and October 22, 2025.

The redemption registration date is November 13, 2025, with a redemption price of RMB 101.44 per bond, which includes accrued interest. The last trading day for the convertible bonds will be November 10, 2025, and the last conversion date is November 13, 2025. Unconverted bonds will be forcibly redeemed at RMB 101.44 per bond.

Following the redemption, the TCC Convertible Bonds will be delisted from the Shanghai Stock Exchange on November 14, 2025. Investors are urged to convert their bonds into shares at RMB 31.11 per share or sell them on the secondary market before the respective deadlines to avoid potential investment losses, as the market price (RMB 134.078/bond as of October 31, 2025) significantly exceeds the redemption price.