Guocheng Mining's convertible bonds trigger forced redemption, diluting major shareholder

Guocheng Mining announced that its major shareholder, Jingyu Asset Management (Shanghai) Co., Ltd. - Jingyu Tengsheng Private Securities Investment Fund, has seen its stake passively diluted from 5.01% to 4.99% as of November 18, 2025. This change occurred due to the conversion of Guocheng convertible bonds, increasing the company's total share capital to 1,142,818,203 shares, without any change in Jingyu's actual shareholding of 57m shares. Consequently, Jingyu is no longer a shareholder holding 5% or more of the company.

Additionally, Guocheng Mining will proceed with the early redemption of its "Guocheng Convertible Bonds," effective December 12, 2025. The redemption price is set at yuan 100.82 per bond, including accrued interest. Investors are advised to convert their bonds into shares before December 12, 2025, to avoid forced redemption. The convertible bonds will cease trading on December 9, 2025, and stop converting to shares on December 12, 2025.