Jiangnan Chemical shareholder plans exchangeable bond issue

Anhui Jiangnan Chemical Industry (SZSE:002226) announced that shareholder Zijing Mining Investment (Shanghai) Co., Ltd., holding over 5% of the company's shares, plans to issue non-publicly offered exchangeable corporate bonds. The bonds will be collateralized by a portion of Zijing Mining's A-shares in Jiangnan Chemical. As of the announcement date, Zijing Mining Investment and its concerted party, Zijing Mining Zinan (Xiamen) Investment Partnership (Limited Partnership), collectively hold 562,334,992 A-shares, representing 21.23% of Jiangnan Chemical's total share capital. The proposed bond issue will have a term of no more than five years and aims to raise no more than CNY700 million. Bondholders will have the right to exchange the bonds for Jiangnan Chemical A-shares, subject to meeting conversion conditions. The application for the bond issuance has been approved by Zijing Mining Group Co., Ltd., and has been accepted by the Shenzhen Stock Exchange on June 24, 2025, pending further regulatory approvals. Jiangnan Chemical emphasizes that the issuance will not change the company's controlling shareholder or actual controller.