Tongling Nonferrous to redeem convertible bonds early

Tongling Nonferrous Metals Group Co., Ltd. announced the early redemption of its "Tongling Ding 02" convertible bonds. The last day for trading these bonds is September 29, 2025, and the final day for conversion into shares is October 10, 2025. After these dates, "Tongling Ding 02" will cease trading and converting, respectively, leading to mandatory redemption for any outstanding bonds.

The redemption price for "Tongling Ding 02" is RMB100.063 per bond, including accrued interest at an annual rate of 1.1% for the current period. This early redemption follows the triggering of the conditional redemption clause. The company's stock price met the specified criteria for 15 trading days between August 13, 2025, and September 4, 2025, at or above 130% of the current conversion price of RMB3.20 per share (i.e., RMB4.16 per share).

The company reminds bondholders to review the announcement, understand the associated risks, and consider converting their bonds before the October 10, 2025, deadline to avoid potential losses from mandatory redemption. Funds for redemption will be transferred to investors' accounts by October 20, 2025, after which the bonds will be delisted from the Shenzhen Stock Exchange.