Yuguang Gold & Lead to redeem convertible bonds early after strong stock performance

Guolian Minsheng Securities, as sponsor for Henan Yuguang Gold & Lead Co., Ltd.'s convertible bond issuance, has confirmed the company's decision to early redeem its "Yuguang convertible bonds." The convertible bonds, issued on August 12, 2024, totaled 7.1 million units with a face value of 100 yuan each, raising a total of 710,000,000 yuan. These bonds, listed on the Shanghai Stock Exchange as "Yuguang convertible bonds" (110096) since September 3, 2024, initially had a conversion price of 6.17 yuan per share. Following a 2024 annual equity distribution, the conversion price was adjusted to 5.95 yuan per share, effective July 11, 2025.

The early redemption condition was met between October 27, 2025, and November 14, 2025. During this period, the company's A-share stock price closed above 130% of the current conversion price (5.95 yuan per share), meaning it was consistently at or above 7.74 yuan per share for fifteen trading days within a thirty-day trading period. Consequently, the board of directors, in its twenty-fifth meeting of the ninth board on November 14, 2025, approved the early redemption of all outstanding "Yuguang convertible bonds" at their face value plus accrued interest.

As of the redemption condition trigger, Henan Yuguang Gold & Lead Group Co., Ltd., the controlling shareholder, did not hold any "Yuguang convertible bonds," having sold its initial holding of 2,101,430 bonds during the six months prior to the redemption trigger date. The move aims to reduce the company's financial expenses and capital costs while optimizing its asset structure.