Hailiang announces early redemption of convertible bonds

Zhejiang Hailiang Co., Ltd. (SZSE:002203) announced the early redemption of its "Hailiang Convertible Bonds." The redemption price is set at CNY 101.710 per bond, including accrued interest at an annual rate of 2.00%. The company's board decided to exercise its early redemption right after the stock price met the conditions, trading at or above 130% of the current conversion price (CNY 9.20/share, i.e., CNY 11.96/share) for at least 15 trading days within a 30-day period from August 4 to August 25, 2025.

Key dates for investors include the cessation of trading for "Hailiang Convertible Bonds" on September 24, 2025, and the last day for conversion on September 29, 2025. The redemption registration date is September 26, 2025, with the actual redemption occurring on September 29, 2025. The company's funds are expected to arrive by October 10, 2025, and investor redemption payments will be credited to accounts by October 14, 2025. Following the redemption, "Hailiang Convertible Bonds" will be delisted from the Shenzhen Stock Exchange.

Investors holding "Hailiang Convertible Bonds" are strongly advised to convert their bonds into shares before the conversion deadline to avoid mandatory redemption at the announced price, which may differ from market prices prior to the cessation of trading and conversion. Holders whose bonds are pledged or frozen should resolve these issues before the conversion stop date to ensure successful conversion.