Nanshan group's exchangeable bonds fully converted, leading to early delisting

Shandong Nanshan Aluminium Co., Ltd. announced its controlling shareholder, Nanshan Group Co., Ltd., has completed the full share conversion of its 2023 non-public issuance of exchangeable corporate bonds (First Tranche) (Type 1), leading to its early delisting. The bonds, with the short name "23 South 01EB", had an initial issuance size of 833.33 million yuan and a three-year term.

The full share conversion occurred on November 25, 2025, with a cumulative 253,680,706 shares converted. Consequently, the bonds will be officially delisted from the Shanghai Stock Exchange on December 8, 2025, ahead of their original maturity date of April 21, 2026. The bondholders will receive the remaining principal of 1,000 yuan per bond, along with interest amounting to 9.493 yuan (tax inclusive) for the period from April 21, 2025, to December 7, 2025, on the delisting date.