Tongling Nonferrous: Bond Conversion Dilutes Controlling Shareholder's Stake

Tongling Nonferrous Metals Group Holdings Co., Ltd. (the controlling shareholder) experienced a passive dilution of its equity stake in Tongling Nonferrous Metals Group Co., Ltd. due to the conversion of the company's "Tongling Bond 02" convertible bonds. This event, occurring between August 30, 2025, and September 22, 2025, increased the company's total A-share capital from 13,082,994,710 shares to 13,390,096,510 shares.

While the controlling shareholder's share count of 6,112,133,557 shares remained unchanged, its overall ownership percentage was diluted from 46.72% to 45.65%. This 1.07% reduction triggered the 1% integer multiple threshold as stipulated by regulatory guidelines.

The company affirmed that this passive dilution does not alter the identity of the controlling shareholder and will not impact the company's governance structure or ongoing operations.