Lingyi iTech to redeem convertible bonds as stock price triggers early call

Lingyi iTech (Guangdong) Company will execute the mandatory redemption of its "Lingyi convertible bonds" at CNY 100.181 per bond (including accrued interest) after the close of trading on October 14, 2025. Trading of the convertible bonds will cease on October 10, 2025, with the redemption date and the cessation of conversion set for October 15, 2025. Holders are strongly advised to convert their bonds into shares before the conversion deadline to avoid potential losses, as the redemption price may differ significantly from market prices.

The company's board decided to exercise its early redemption right after the stock price met trigger conditions. The stock consistently closed above 130% of the current conversion price for at least 15 trading days within a 30-day period between August 19 and September 8, 2025, exceeding CNY 11.87 per share.

Funds for the redemption will reach the company's settlement account by October 20, 2025, with bondholders expected to receive their proceeds by October 22, 2025. Following the redemption, "Lingyi convertible bonds" will be delisted from the Shenzhen Stock Exchange. The company's controlling shareholder and actual controller, Lingyi Investment (Jiangsu) Co., Ltd. and Ms. Zeng Fangqin, did not engage in any trading of the "Lingyi convertible bonds" within six months prior to the redemption conditions being met.