Tongling Nonferrous to redeem convertible bonds early in October 2025

Tongling Nonferrous Metals Group Co., Ltd. has met the conditions for early redemption of its "Tongling 02" convertible corporate bonds, as confirmed by Anhui Chengyi Law Firm. The redemption price is CNY 100.063 per bond, including accrued interest at a 1.1% annual rate. Redemption registration is scheduled for October 10, 2025. Bond transfer will cease on September 30, 2025, and conversion on October 13, 2025.

The company's board approved the early redemption on September 4, 2025. This followed its stock price consistently exceeding 130% of the current conversion price (CNY 3.20 per share) for at least 15 trading days within a 30-day period. Funds are expected to reach the issuer's account by October 16, 2025, and bondholders' accounts by October 20, 2025, after which the bonds will be delisted from the Shenzhen Stock Exchange.

Cathay Pacific Securities Co., Ltd. independently verified the early redemption. It noted that the company's controlling shareholder, major shareholders with over 5% stake, directors, supervisors, and senior management did not trade "Tongling 02" convertible bonds within six months prior to the redemption conditions being met. The redemption procedures comply with relevant regulations, and the company has fulfilled the necessary decision-making processes.