Tongling Nonferrous to redeem "Tongling Convertible 02" bonds early

Tongling Nonferrous Metals Group announced the early redemption of its "Tongling Convertible 02" bonds, effective October 13, 2025. This decision follows a period where the company's stock price met the callable conditions and a notable change in bondholder proportions. Nord Fund Management Co., Ltd., a major bondholder, initially subscribed to 10,000,000 shares of "Tongling Convertible 02," representing 46.60% of the total issuance. Nord Fund transferred 2,950,000 shares (13.75%) between April 11-15, 2024, and another 1,200,000 shares (5.59%) between April 17-25, 2024.

Between July 23, 2024, and August 29, 2025, Nord Fund converted 3,150,000 shares (14.68%) into equity. Furthermore, from August 30 to September 16, 2025, an additional 2,300,000 shares (10.72%) were converted. As a result of these conversions, Nord Fund's holding decreased from an initial 2,700,000 shares (12.58%) to 400,000 shares (1.86%).

The "Tongling Convertible 02" bonds, with a face value of yuan 100/share, will be redeemed at yuan 100.063/share (including accrued interest). Bond trading will cease on September 30, 2025, and conversion will stop on October 13, 2025, with delisting from the Shenzhen Stock Exchange upon completion of the redemption.