Zhenghai Magnetic Materials to redeem convertible bonds early

Yantai Zhenghai Magnetic Material will compulsorily redeem all outstanding "Zhenghai Convertible Bonds" at CNY 100.50 per bond, including accrued interest. The redemption conditions were met on August 22, 2025, when the company's stock price closed at or above 130% of the current conversion price (CNY 16.419 per share) for at least 15 trading days within 30 consecutive trading days.

Trading of the bonds will cease on September 17, 2025, with the redemption registration date set for September 19, 2025, and the redemption date on September 22, 2025. Investors are urged to convert their bonds before the stop conversion date of September 22, 2025, to avoid mandatory redemption at the announced price. Following the redemption, "Zhenghai Convertible Bonds" will be delisted from the Shenzhen Stock Exchange.

As of September 5, 2025, 87,902,089 shares have been converted from the bonds, representing 10.72% of the company's total issued shares before conversion. Unconverted bonds amounted to 2,862,526, or 20.45% of the total issuance.