Hailiang to force early redemption of convertible bonds

Zhejiang Hailiang Co., Ltd. has issued a cautionary notice regarding the early redemption of its "Hailiang Convertible Bonds." The company's board approved the early redemption on August 25, 2025, after the stock price met the redemption conditions. The redemption price is CNY 101.710 per bond, which includes accrued interest at an annual rate of 2.00% (tax-inclusive).

Key dates for bondholders include the last trading day on September 24, 2025, the redemption registration day on September 26, 2025, and the last day for conversion on September 29, 2025. Any "Hailiang Convertible Bonds" not converted by the close of trading on September 26, 2025, will be subject to mandatory redemption. Following the redemption, the bonds will be delisted from the Shenzhen Stock Exchange.

Bondholders with pledged or frozen bonds should unpledge or unfreeze them before the conversion deadline to avoid redemption without conversion. The company warns that the redemption price may differ significantly from market prices before trading and conversion cease, urging investors to convert promptly to prevent potential losses.