Tongling Nonferrous completes share repurchase and begins convertible bond redemption

Tongling Nonferrous Metals Group Co., Ltd. announced the completion of its share repurchase program, which ran from November 22, 2024, to September 9, 2025. The company cumulatively repurchased 54,036,000 shares for a total of CNY 200,011,301.00. These repurchased shares, representing 0.41% of the company’s current total share capital, have been entirely used for the conversion of the company’s "Tongling Convertible Bond 02" into shares, leading to an increase in the total share capital by 494,051,109 shares.

Concurrently, the company is proceeding with the early redemption of its "Tongling Convertible Bond 02." The redemption was triggered after the bond met the conditional redemption criteria, with the company’s stock price exceeding 130% of the current conversion price (CNY 3.20/share) for 15 trading days within a 30-trading-day period. The redemption price is set at CNY 100.063 per bond, including accrued interest.

The redemption process dictates that the "Tongling Convertible Bond 02" will cease trading on September 30, 2025, and stop converting on October 13, 2025. All unconverted bonds by the redemption registration date of October 10, 2025, will be mandatorily redeemed on October 13, 2025, with funds expected to reach investors by October 20, 2025, after which the bond will be delisted from the Shenzhen Stock Exchange.