Humon Smelting to redeem convertible bonds, trading to halt

Shandong Humon Smelting has initiated the early redemption of its "Hengbang Convertible Bonds," with the last trading day scheduled for November 24, 2025. The final conversion date for investors is November 27, 2025, after which unconverted bonds will be forcibly redeemed at a price of 100.28 yuan per bond, including accrued interest and tax. The redemption conditions were met on October 17, 2025, with the company's stock price exceeding 130% of the current conversion price for at least 15 trading days within a 30-day period.

As of November 18, 2025, the accumulated share conversion volume for "Hengbang Convertible Bonds" reached 231,409,617 shares, representing 20.16% of the company's total shares issued before the conversion began. A total of 5,704,715 unconverted bonds remain, accounting for 18.05% of the total issue of 31,600,000 bonds. The conversion price was adjusted twice, from 11.46 yuan to 11.33 yuan and then to 11.19 yuan per share.

Holders are advised to convert their bonds by November 27, 2025, to avoid mandatory redemption and potential losses, especially if market prices differ significantly from the redemption price. The bonds will be delisted from the Shenzhen Stock Exchange following the completion of the redemption. Jiangxi Copper, a controlling shareholder, sold 5,548,463 bonds between April 18 and October 17, 2025, reducing its holding to 1,271,383 bonds.