Xizi convertible bonds to be redeemed early

Hangzhou Boiler Group, also known as Xizi Clean Energy, has announced the early redemption of its "Xizi Convertible Bonds." The company's stock price triggered the conditional redemption clause by closing above 130% of the current conversion price for 15 trading days between July 23, 2025, and August 28, 2025. The redemption price is set at CNY 101.12 per bond, including interest and taxes.

Key dates for investors include the stop trading date on September 17, 2025, and the stop conversion date on September 22, 2025. The redemption registration date is September 19, 2025, after which all outstanding "Xizi Convertible Bonds" will be forcibly redeemed. Redemption proceeds will be deposited into investor accounts by September 29, 2025.

The company reminds bondholders that any bonds not converted by the September 19 deadline will be forcibly redeemed. Holders with pledged or frozen bonds are advised to release them before the stop conversion date to avoid potential losses. The redemption price may differ significantly from market prices before the stop trading and conversion dates, posing a risk for investors who do not convert promptly.