Ningbo Xusheng convertible bonds face final redemption

Ningbo Xusheng Auto Technology Co., Ltd. has issued a final reminder regarding the redemption and delisting of its "sheng 24 convertible bonds." The last day for bondholders to convert their bonds into shares is November 13, 2025. Trading ceased on November 11, 2025.

The company will redeem the bonds at CNY 100.1677 per bond, with the payment distribution scheduled for November 14, 2025. Bonds not converted by the deadline will be compulsorily redeemed at this price. Investors who fail to convert or sell their bonds in time may face significant losses due to a current discrepancy between the secondary market price and the redemption price. The bonds will be delisted from the Shanghai Stock Exchange on November 14, 2025.

This mandatory redemption follows the company's stock closing price exceeding 130% of the current conversion price (CNY 12.51 per share) for fifteen trading days between September 16, 2025, and October 15, 2025, triggering the conditional redemption clause.