Tianshan Aluminum's controlling shareholder stake reduced by bond conversions

Tianshan Aluminum Group Co.'s controlling shareholder, Shihezi Jinlong Energy Industry Chain Co. ("Jinlong Energy"), saw its stake in the company decrease by 1.01%. This occurred as bondholders converted their "24 Jinlong EB01" and "24 Jinlong EB02" exchangeable corporate bonds into shares. A total of 47,172,054 shares were exchanged between September 11, 2025, and October 20, 2025. This included 7,380,404 shares from "24 Jinlong EB01" and 39,791,650 shares from "24 Jinlong EB02."

Following these conversions, Jinlong Energy's total shareholding, including its concert parties, was passively reduced to 40.99% of Tianshan Aluminum's total share capital, down from 42.00%. This represents a passive reduction of 47,172,054 shares.

Despite the reduction, the company emphasizes that this change in shareholding will not alter Jinlong Energy's status as the controlling shareholder. Investors are cautioned that future conversion activities of "24 Jinlong EB01" and "24 Jinlong EB02" bondholders, including the exact number and timing of conversions, remain uncertain, posing investment risks.