Tinci Materials to redeem convertible bonds early

Guangzhou Tinci Materials Technology announced on November 11, 2025, that its controlling shareholder and actual controller, Mr. Xu Jinfu, experienced a passive dilution of 0.61% in their shareholding, bringing their stake from 36.26% to 35.65%. This dilution, reaching a 1% integer multiple, resulted from the company's repurchases and cancellations of restricted shares and the conversion of 45,376,058 "Tinci Convertible Bonds" into shares. This change does not affect the controlling shareholder's holdings or the company's governance.

Concurrently, the company's board of directors approved the early redemption of "Tinci Convertible Bonds." The redemption was triggered because the company's A-share stock price traded at or above 130% of the current conversion price (28.50 yuan/share) for at least 15 days out of the 30 trading days between September 29, 2025, and November 11, 2025. The redemption price is set at 100.29 yuan per bond, with a redemption registration date of December 2, 225, and a redemption date of December 3, 2025. Trading of the convertible bonds will cease on November 28, 2025, and conversion will stop on December 3, 2025. Investors are cautioned about potential losses if they do not convert their bonds before the deadline, given the significant difference between the current market price (152.79 yuan/bond) and the redemption price.