Zhenghai Magnetic Material to early redeem convertible bonds

Yantai Zhenghai Magnetic Material Co. will early redeem its "Zhenghai Convertible Bonds" at a price of CNY 100.50 per bond, including accrued interest, effective September 22, 2025. The company's stock price met the redemption conditions, closing at or above 130% of the current conversion price of CNY 12.63 per share for at least 15 trading days between July 25, 2025, and August 22, 2025.

Trading of the "Zhenghai Convertible Bonds" will cease on September 17, 2025, with the final conversion date on September 19, 2025. Unconverted bonds will be forcibly redeemed after September 19, 2025, leading to their delisting from the Shenzhen Stock Exchange. Bondholders who fail to convert by the deadline may face losses, as the current market price of the bonds significantly exceeds the redemption price.

The company advises bondholders with pledged or frozen bonds to clear these issues before the stop-conversion date of September 22, 2025. Additionally, investors must have an open ChiNext trading account to convert bonds into shares.