Hongfa convertible bond to be redeemed, delisted

Hongfa Technology Co., Ltd. has initiated the mandatory redemption of its Hongfa Convertible Bonds following the fulfillment of the conditional redemption clause. The redemption registration date is December 11, 2025, with a redemption price of 100.2219 yuan per bond. The redemption proceeds will be distributed on December 12, 2025.

Bondholders have until December 8, 2025, to trade their convertible bonds and until December 11, 2025, to convert them into shares at a price of 22.72 yuan per share. As of December 1, 2025, the market price of the convertible bond was 125.088 yuan per bond, significantly higher than the redemption price.

Investors who do not sell or convert their bonds by the respective deadlines will face a mandatory redemption at the lower price of 100.2219 yuan per bond, potentially incurring substantial investment losses. The convertible bonds will be delisted from the Shanghai Stock Exchange on December 12, 2025.