Zhenghai convertible bonds face mandatory early redemption

Yantai Zhenghai Magnetic Material Co., Ltd. has announced the mandatory early redemption of its "Zhenghai convertible bonds" at 100.50 yuan per bond, effective September 22, 2025. This decision follows the company's stock price meeting the conditional redemption clause, with its shares closing at or above 130% of the current conversion price (16.419 yuan per share) for 15 out of 30 consecutive trading days between July 25, 2025, and August 22, 2025.

The last trading day for the convertible bonds is September 17, 2025, and conversion will cease on September 22, 2025. The company will redeem all outstanding convertible bonds registered by the close of business on the redemption registration date of September 19, 2025. Following the redemption, "Zhenghai convertible bonds" will be delisted from the Shenzhen Stock Exchange.

Investors who wish to convert their bonds into shares must do so by the redemption registration date. Those who fail to convert by the deadline will have them forcibly redeemed at 100.50 yuan per bond, including accrued interest of 0.50 yuan per bond. The company cautions that investors not meeting the suitability requirements for ChiNext board trading will be unable to convert their bonds into shares.