Red Avenue announces mandatory convertible bond redemption, delisting

Red Avenue New Materials Group has triggered a conditional redemption clause for its convertible bonds, "tongcheng zhuanzhai," due to its stock price meeting the required threshold for 15 trading days between September 24 and October 22, 2025. The company will redeem all outstanding "tongcheng zhuanzhai" at 101.44 yuan per bond. This includes the bond's face value of 100 yuan and accrued interest of 1.44 yuan per bond, calculated up to the redemption registration date.

The final trading day for "tongcheng zhuanzhai" is November 10, 2025, and the last day for bondholders to convert their bonds into shares is November 13, 2025. Following the redemption, "tongcheng zhuanzhai" will be delisted from the Shanghai Stock Exchange on November 14, 2025.

Bondholders are urged to either convert their bonds into shares or sell them on the secondary market before the respective deadlines. As of November 3, 2025, the secondary market price of "tongcheng zhuanzhai" was 129.127 yuan per bond, significantly higher than the redemption price of 101.44 yuan per bond. Failure to convert or sell by the deadline could result in substantial investment losses.