Hangzhou Boiler Group announces early redemption of convertible bonds

Hangzhou Boiler Group Co., Ltd. announced the early redemption of its "Xizi Convertible Bonds." The redemption price is set at CNY 101.12 per bond, which includes principal and accrued interest, based on a current annual interest rate of 1.50%. The redemption was triggered because the company's stock price met the condition of closing at or above 130% of the current conversion price (CNY 14.29 per share) for at least 15 trading days within a 30-day period.

The redemption registration date is September 19, 2025, with the actual redemption date scheduled for September 22, 2025. Trading of the convertible bonds will cease on September 17, 2025, and conversion to shares will stop on September 22, 2025. Funds from the redemption are expected to reach investors' accounts by September 29, 2025.

All outstanding convertible bonds will be mandatorily redeemed. The company advises bondholders, especially those with pledged or frozen bonds, to resolve these issues before the conversion stop date to avoid losses. After the redemption, the "Xizi Convertible Bonds" will be delisted from the Shenzhen Stock Exchange.