Fenglong Electric to redeem convertible bonds

Zhejiang Fenglong Electric (SZSE:002931) will redeem all outstanding "Fenglong Convertible Bonds" at a price of 100.38 yuan per bond, including tax and interest, for the fifth year. The redemption was triggered because the company's stock price exceeded 130% of the current conversion price for 15 trading days. The redemption registration date is set for March 4, 2025, with the actual redemption occurring on March 5, 2025. Trading of the bonds will cease on February 28, 2025, and conversion rights will end on March 5, 2025. Bondholders are urged to convert their bonds before the deadline to avoid potential losses. Any bonds not converted by the close of trading on March 4, 2025, will be forcibly redeemed and subsequently delisted from the Shenzhen Stock Exchange.