Xizi Clean Energy to redeem convertible bonds early

Hangzhou Boiler Group (Xizi Clean Energy) has triggered the conditional early redemption clause for its "Xizi convertible bonds." The company’s stock price met the 130% threshold of its current conversion price for 15 trading days between July 23, 2025, and August 28, 2025. The redemption price for the bonds is CNY 101.12 per bond, which includes accrued interest.

The redemption registration date is September 19, 2025, with the actual redemption occurring on September 22, 2025. Trading of the convertible bonds will cease on September 17, 2025, and the conversion into shares will stop on September 22, 2025. Funds are expected to reach the issuer's account by September 25, 2025, and bondholders' accounts by September 29, 2025.

Holders are advised that unconverted bonds will be mandatorily redeemed. The "Xizi convertible bonds" will be delisted from the Shenzhen Stock Exchange following the redemption. Investors with pledged or frozen bonds should release these encumbrances before the conversion stop date to prevent forced redemption without conversion. The company warns of potential losses if holders do not convert in time, as the redemption price may differ significantly from market prices.