Kibing Group to redeem convertible bonds, share buyback reaches 1%

Zhuzhou Kibing Group Co., Ltd. has triggered the conditional early redemption clause for its "Kibing Convertible Bonds." The company's board approved the early redemption of all outstanding bonds at face value plus accrued interest. This decision follows a period from September 30, 2025, to November 5, 2025, during which the company's stock price closed at or above 130% of the current conversion price (RMB 5.43/share) for at least 15 trading days.

The "Kibing Convertible Bonds" were issued on April 9, 2021, with a total face value of RMB 1.5 bn and began trading on the Shanghai Stock Exchange on May 7, 2021. The latest conversion price was adjusted to RMB 5.43/share, effective July 8, 2025. This conversion activity has led to a passive dilution of the combined shareholding of the controlling shareholder, actual controller, and their concerted parties, from 41.45% to 40.98%, triggering a 1% threshold disclosure.

Concurrently, Zhuzhou Kibing Group's share buyback program has reached a significant milestone. As of November 5, 2025, the company has cumulatively repurchased 27,939,900 shares, representing 1.0411% of its total share capital. The buyback involved a total payment of RMB 195,836,900, with prices ranging from RMB 6.79/share to RMB 7.21/share. The repurchased shares are intended for employee stock ownership plans or equity incentives.