TianShan Aluminium controlling shareholder to redeem exchangeable bonds

TianShan Aluminium Group’s controlling shareholder, Xinjiang Shimge Pump Industry Group Co., Ltd., will fully redeem "24 Jinlong EB02" and "24 Jinlong EB01" exchangeable corporate bonds. The redemption price for "24 Jinlong EB02" is RMB 100.4466 per bond, including current interest, with the redemption registration date set for November 17, 2025, and funds due on November 18, 2025. Similarly, "24 Jinlong EB01" will be redeemed at RMB 100.4808 per bond, also including current interest, with the same key dates. Both tranches will be fully redeemed and delisted on November 18, 2025.

The company's board decided to exercise its redemption option after the stock price met specific conditions, leading to a reduction in its registered capital. From July 21 to November 7, 2025, the conversion of these bonds into shares led to a cumulative passive reduction of 50,563,555 shares in the controlling shareholder's holdings, representing 1.09% of the total share capital. This change decreased the controlling shareholder’s stake to 37.89% but does not alter the controlling shareholder status.

TianShan Aluminium also held its Second Extraordinary General Meeting of 2025 on November 10, 2025, approving amendments to several internal governance rules. Shareholders also approved a change in the use of repurchased shares, specifically 23,148,000 shares, which will now be cancelled to reduce the company's registered capital. This reduction will decrease the total share capital from 4,651,885,415 shares to 4,628,737,415 shares. Creditors are notified to claim their rights by December 26, 2025.