Ningbo Xusheng Group announces mandatory redemption for Sheng 24 convertible bonds

Ningbo Xusheng Group Co., Ltd. has issued its seventh reminder regarding the mandatory redemption and delisting of its "Sheng 24 Convertible Bonds." The final trading day for these bonds is November 10, 2025, and the last day for conversion into company shares is November 13, 2025. Following these dates, the bonds will be delisted from the Shanghai Stock Exchange on November 14, 2025.

The redemption price is set at 100.1677 yuan per bond, which includes a principal of 100 yuan and accrued interest of 0.1677 yuan. This redemption is triggered as the company's stock price met the conditional redemption clause between September 16, 2025, and October 15, 2025. The stock price closed at or above 130% of the current conversion price of 12.51 yuan per share for fifteen trading days during this period.

Investors who do not convert or sell their Sheng 24 Convertible Bonds by the respective deadlines face mandatory redemption at the announced price. This could lead to substantial losses given the current secondary market price of 118.649 yuan per bond as of November 3, 2025. Holders of pledged or frozen bonds are advised to resolve these issues before the trading halt to facilitate conversion.