Tinci Materials controlling shareholder cuts convertible bond stake

Guangzhou Tinci Materials Technology announced that its controlling shareholder, Mr. Xu Jinfu, has reduced his holdings in the "Tinci Convertible Bonds" (convertible bond code: 127073). From August 19, 2025, to November 5, 2025, Mr. Xu Jinfu sold 5,004,249 shares through the Shenzhen Stock Exchange trading system, representing approximately 14.67% of the total issued amount.

This follows an earlier disclosure on August 19, 2025, which indicated Mr. Xu Jinfu had already reduced his holdings by 3,545,161 shares, representing approximately 10.39% of the total issued amount. As of November 5, 2025, Mr. Xu Jinfu now holds 3,826,321 shares of the Tinci Convertible Bonds, decreasing his total ownership from an initial 36.29% to 11.22% of the total issuance.

The company originally issued 34,105,000 shares of convertible bonds, each with a face value of 100 yuan, totaling 3.4105 bn yuan, following approval from the China Securities Regulatory Commission in September 2022. Mr. Xu Jinfu initially subscribed to 12,375,731 shares through priority allocation.