Lingyi iTech announces mandatory redemption of convertible bonds

Lingyi iTech (Guangdong) Company has announced the mandatory redemption of its "Lingyi Convertible Bonds" after conditional redemption clauses were met. The redemption price is set at CNY 100.181 per bond, which includes accrued interest at a 0.20% annual rate. The redemption condition was satisfied on September 8, 2025, after the company’s stock price closed at or above 130% of the current conversion price (CNY 11.87 per share) for at least 15 trading days within a 30-day period.

Key dates for bondholders include the cessation of trading for "Lingyi Convertible Bonds" on October 10, 2025, and the cessation of conversion to shares on October 15, 2025. The redemption date is also October 15, 2025, with redemption funds expected to reach investors' accounts by October 22, 2025. Bonds not converted to shares by the close of business on October 14, 2025, will be subject to mandatory redemption and subsequently delisted from the Shenzhen Stock Exchange.

The company reminds bondholders that the redemption price may significantly differ from market prices before the trading and conversion halts. Investors whose bonds are pledged or frozen are advised to unpledge or unfreeze them before the conversion deadline to avoid issues.