Ningbo Xusheng Group announces mandatory redemption for Sheng 24 convertible bonds

Ningbo Xusheng Group Co., Ltd. announced the upcoming mandatory redemption and delisting of its "Sheng 24 convertible bonds." The redemption registration date is set for November 13, 2025, with the redemption price at CNY 100.1677 per bond. The last day for trading Sheng 24 convertible bonds will be November 10, 2025, and the last day for bondholders to convert their bonds into shares is November 13, 2025.

From November 11, 2025, Sheng 24 convertible bonds will cease trading, and from November 14, 2025, they will be delisted from the Shanghai Stock Exchange. The redemption price of CNY 100.1677 per bond includes the par value of CNY 100 and accrued interest of CNY 0.1677. Given that the current market price of Sheng 24 convertible bonds (CNY 113.184 per bond as of November 10, 2025) significantly exceeds the redemption price, investors who do not convert or sell their bonds by the deadline face considerable investment losses.

The company's stock price met the redemption condition, trading at or above 130% of the current conversion price (CNY 12.51 per share) for 15 out of 30 trading days between September 16, 2025, and October 15, 2025. Investors are strongly advised to convert or sell their Sheng 24 convertible bonds before the final deadlines to avoid mandatory redemption at a lower price.