Lingyi iTech shareholders approve stock plan, company to redeem convertible bonds

Lingyi iTech (Guangdong) Company announced resolutions passed at its third extraordinary general meeting of shareholders for 2025, held on September 16, 2025. Key approvals included the "2025 Employee Stock Ownership Plan (Draft)" and its management measures, as well as authorization for the board of directors to handle related matters. The company also approved the "2025 Semi-Annual Profit Distribution Plan." All proposals passed with supermajority votes, demonstrating strong shareholder support.

In a separate announcement, Lingyi iTech detailed the early redemption of its "Lingyi Convertible Bonds" following the satisfaction of redemption conditions on September 8, 2025. The redemption price is set at CNY 100.181 per bond (including accrued interest and tax). Trading of the convertible bonds will cease on October 10, 2025, with conversion stopping on October 15, 2025. The redemption date is October 15, 2025, and funds will reach investors by October 22, 2025.

Shareholders are urged to convert their bonds before the October 14, 2025, registration deadline to avoid mandatory redemption and potential losses, as the redemption price may differ significantly from market prices. The company’s controlling shareholder, LingSheng Investment (Jiangsu) Co., Ltd., and actual controller Ms. Zeng Fangqin, sold all their "Lingyi Convertible Bonds" before the redemption conditions were met.