Zhongjin Lingnan: Convertible bond redemption to halt trading, dilute shareholder stake

Shenzhen Zhongjin Lingnan Nonfemet announced the early redemption of its "Zhongjin Convertible Bonds." The last trading day for these bonds is scheduled for November 20, 2025, and the last day for conversion into shares is November 25, 2025. Unconverted bonds will be compulsorily redeemed at a price of 100.70 yuan per bond. The company advises bondholders to carefully review the announcement and consider conversion before the deadlines to avoid potential losses.

The early redemption was triggered after the company's A-share price met the condition of being at least 130% of the current conversion price (4.29 yuan per share, or 5.58 yuan per share) for at least 15 trading days within a 30-trading-day period between September 30 and October 30, 2025. The board approved this decision on October 30, 2025.

As a result of significant bond conversions, the company's total share capital increased from 4,232,629,176 shares on November 7, 2025, to 4,390,029,653 shares by November 18, 2025. This increase led to a passive dilution of the controlling shareholder, Guangdong Guangcheng Holding Group Co., Ltd., whose stake decreased from 30.82% to 29.71%. The combined stake of Guangcheng Holding Group and its concerted party, Guangdong Guangcheng Mining Group Co., Ltd., also decreased from 31.54% to 30.41%.