Hailiang announces early convertible bond redemption, trading halt

Zhejiang Hailiang Co., Ltd. announced the early redemption of its "Hailiang Convertible Bonds" following redemption conditions being met on August 25, 2025. The final trading day for these bonds will be September 23, 2025, with trading ceasing after market close. The last day for bondholders to convert their bonds into shares will be September 26, 2025, after which any unconverted bonds will be subject to mandatory redemption at a price of 101.710 yuan per bond.

The early redemption was approved by the company's Ninth Board of Directors on August 25, 2025. The company's stock price met the redemption criteria by closing at or above 130% of the current conversion price (9.20 yuan/share), or 11.96 yuan/share, for fifteen trading days between August 4 and August 25, 2025. Investors are advised to make conversion decisions before the deadline to avoid potential losses.

In a related development, the company's controlling shareholder, Hailiang Group Co., Ltd., and its concerted parties experienced a passive dilution of their combined equity stake from 31.97% to 30.97% between September 2 and September 19, 2025. This 1% reduction was due to the conversion of convertible bonds, increasing the company’s total share capital. The total number of shares held by these parties, however, remained unchanged.