Tongling Nonferrous Metals Group to redeem convertible bonds early

Tongling Nonferrous Metals Group announced on September 4, 2025, that its board of directors approved the early redemption of its "Tongling Ding 02" convertible bonds. The decision follows the satisfaction of redemption conditions, as the company's stock price met the trigger threshold for 15 trading days between August 13 and September 4, 2025, reaching 130% of the current conversion price of yuan 3.20 per share, or yuan 4.16 per share.

The "Tongling Ding 02" convertible bonds were issued on September 21, 2023, with a conversion period from March 27, 2024, to September 20, 2029. The redemption price is set at yuan 100.063 per bond, including accrued interest at an annual rate of 1.1% for the current period.

The redemption process will commence with the cessation of transfer on September 30, 2025, and a redemption registration date of October 10, 2025. Unconverted bonds will be forcibly redeemed after the market close on October 10, 2025, with trading and conversion ceasing on October 13, 2025. Funds are expected to reach the issuer's account by October 16, 2025, and investors' accounts by October 20, 2025, after which the bonds will be delisted from the Shenzhen Stock Exchange.