Xizi convertible bonds face early redemption, trading to cease soon

Hangzhou Boiler Group Co., Ltd. (formerly Xizi Clean Energy Equipment Manufacturing Co., Ltd.) has announced the early redemption of its "Xizi Convertible Bonds." The final conversion date for these bonds is September 19, 2025, after which un-converted bonds will be mandatorily redeemed at RMB 101.12 per bond, including accrued interest.

The company's board of directors decided to exercise its early redemption right on August 28, 2025, after the stock price triggered the conditional redemption clause. Trading of "Xizi Convertible Bonds" will halt on September 17, 2025, and convertibility will cease on September 22, 2025. The redemption date is September 22, 2025, with funds expected to reach investors' accounts by September 29, 2025.

The company emphasizes that holders with pledged or frozen bonds should release them before the conversion deadline to avoid mandatory redemption without conversion. Investors are strongly advised to convert their bonds promptly to avoid potential losses due to market price discrepancies between the redemption price and the market price before trading and conversion cessation.