Tongling Nonferrous to redeem convertible bonds early

Tongling Nonferrous Metals Group Co., Ltd. has initiated the early redemption of its "Tongling Ding 02" convertible bonds, with the redemption price set at 100.063 yuan per bond (including accrued interest). The company will cease transfers of these bonds on September 30, 2025, and stop conversions on October 13, 2025. The redemption registration date is October 10, 2025, and the redemption date is October 13, 2025. Following the redemption, "Tongling Ding 02" will be delisted from the Shenzhen Stock Exchange.

The decision follows the satisfaction of the conditional redemption clause, where the company's stock price met the trigger criteria between August 13 and September 4, 2025. Bondholders who do not convert their bonds by the redemption date will have their bonds forcibly redeemed at the stated price. The company warns that the redemption price may differ significantly from market prices, advising bondholders to convert in time to avoid potential losses.

The current conversion price for "Tongling Ding 02" is 3.20 yuan per share, adjusted from an initial 3.38 yuan per share due to equity distributions. The conversion period for these bonds began on March 27, 2024, and extends until September 20, 2029.