Shandong Humon Smelting's Hengbang bonds surpass 10% conversion threshold

As of October 23, 2025, Shandong Humon Smelting's "Hengbang convertible bonds" have cumulatively converted 126,710,897 shares. This figure represents 11.04% of the company's total issued shares of 1,148,014,400 shares prior to the start of the conversion period. This milestone highlights a notable uptake in bond-to-equity conversions since the conversion period began on December 18, 2023.

The convertible bonds, designated as "Hengbang convertible bonds" with bond code "127086," were publicly issued on June 12, 2023, totaling 31.6m units, each with a face value of CNY 100, raising gross proceeds of CNY 3,160,000,000. The net proceeds, after deducting issuance expenses, amounted to CNY 3,129,967,396.23.

Despite the significant conversions, 17,420,614 units of "Hengbang convertible bonds" remain unconverted as of October 23, 2025. This outstanding amount accounts for 55.13% of the total 31.6m units initially issued. The conversion price has seen adjustments, most recently to CNY 11.19 per share, effective June 12, 2025.