Tinci Materials to redeem convertible bonds amid shareholder stake dilution

Guangzhou Tinci Materials Technology will redeem all outstanding "Tianci convertible bonds" at a price of CNY 100.29 per bond, including accrued interest and tax, effective December 3, 2025. Trading of the bonds will halt on November 28, 2025, and conversion will cease on December 3, 2025, with delisting from the Shenzhen Stock Exchange upon completion of the redemption. The decision follows the company's A-share stock price trading above 130% of the conversion price for at least 15 days within a 30-trading-day period from September 29, 2025, to November 11, 2025.

Concurrently, the company's total share capital increased from 1,959,711,310 shares to 2,001,388,551 shares between November 8, 2025, and November 14, 2025, due to the conversion of Tianci convertible bonds. This resulted in a passive dilution of the controlling shareholder and actual controller, Mr. Xu Jinfu's, ownership from 35.65% to 34.91%, triggering a 1% integer multiple change. Investors are advised to convert or sell their bonds before the deadline to avoid potential losses from the mandatory redemption.