Lingyi convertible bondholders face mandatory redemption deadline

Lingyi iTech (Guangdong) Company has issued an urgent advisory regarding the mandatory redemption of its "Lingyi Convertible Bonds." The final conversion date is October 14, 2025. After this date, any unconverted bonds will cease to be convertible and will be forcibly redeemed at CNY 100.181 per bond, which includes accrued interest.

The company emphasizes that investors who fail to convert their bonds by the deadline risk incurring losses. The redemption price includes a current annual interest rate of 0.20%. The redemption registration date is October 14, 2025, with the redemption date and cessation of conversion set for October 15, 2025. Redemption funds are expected to reach the issuer's account by October 20, 2025, and investor accounts by October 22, 2025.

The mandatory redemption was triggered after Lingyi iTech's stock price met the redemption conditions between August 19, 2025, and September 8, 2025. 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. Investors are strongly advised to convert their bonds before the October 14 deadline to avoid potential losses.