Hangzhou Boiler Group's Xizi convertible bonds to be redeemed

Hangzhou Boiler Group has announced the early redemption of its "Xizi convertible bonds" at a price of CNY 101.12 per bond, including tax and interest. This redemption follows the activation of a conditional redemption clause, as the company's A-share stock price met the 130% threshold of the current conversion price for at least 15 trading days between July 23, 2025, and August 28, 2025.

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

Investors who still hold "Xizi convertible bonds" after September 19, 2025, will have their bonds forcibly redeemed. The company warns that the redemption price may differ significantly from market prices before the halt in trading and conversion, urging bondholders to convert their bonds in a timely manner to avoid potential losses.