Hangzhou Boiler Group to early redeem Xizi convertible bonds

Hangzhou Boiler Group has announced the early redemption of its Xizi convertible bonds at a price of 101.12 yuan per bond, including tax and interest. The redemption was triggered after the company's stock price met the conditional redemption clause. This occurred after the stock closed at or above 130% of the current conversion price of 10.99 yuan per share for 15 trading days between July 23, 2025, and August 28, 2025.

The redemption registration date is September 19, 2025, with the redemption day on September 22, 2025. Trading of the convertible bonds will cease on September 17, 2025, and conversion to shares will stop on September 22, 2025. Investors who have not converted their bonds by the September 19, 2025, close of trading will have their bonds forcibly redeemed.

The company urges bondholders to convert their bonds into shares before the deadlines to avoid potential losses, as the redemption price may differ significantly from market prices before the halt in trading and conversion. The convertible bonds will be delisted from the Shenzhen Stock Exchange following the redemption.