Tongling Nonferrous to redeem convertible bonds, ending share conversion

Tongling Nonferrous Metals Group Co., Ltd. has announced the early redemption of its "Tongling Ding 02" convertible bonds, effective September 29, 2025. The final date for share conversion is October 10, 2025, after which any un-converted bonds will be compulsorily redeemed at RMB100.063 per bond. The company initiated the redemption after its stock price met the conditional redemption clause, trading above 130% of the current conversion price of RMB3.20 per share for at least 15 trading days between August 13 and September 4, 2025.

The redemption price of RMB100.063 per bond includes accrued interest at an annual rate of 1.1% for 21 days. The redemption is set to occur on October 13, 2025, with funds expected to reach investors' accounts by October 20, 2025. "Tongling Ding 02" will cease trading on September 30, 2025, and will be delisted from the Shenzhen Stock Exchange upon completion of the redemption.

Bondholders are strongly advised to convert their bonds into shares by the October 10, 2025 deadline to avoid potential losses, as the redemption price may differ significantly from the market price before the cessation of trading and conversion. Holders with pledged or frozen bonds should release them before this date to ensure successful conversion.