Meijin Energy triggers convertible bond put option after project termination

Shanxi Meijin Energy announced a put option for its "Meijin convertible bonds" at a price of 100.986 yuan per bond (inclusive of interest and taxes), with a declaration period from December 1 to December 5, 2025. This decision follows the approval on November 25, 2025, to terminate the "Hydrogen Fuel Cell Power System and Hydrogen Fuel Commercial Vehicle Parts Production Project (Phase I)" and reallocate remaining raised funds of 17,917.83 yuan to permanent working capital.

This change in the use of raised funds triggered an additional put option clause in the bond prospectus, granting bondholders the right to sell back their bonds. The company's funds for the put option are expected to arrive on December 10, 2025, with bondholders receiving payment by December 12, 2025.

In accordance with regulatory guidelines, the "Meijin convertible bonds" will temporarily suspend conversion into shares during the put option declaration period, from December 1 to December 5, 2025, resuming on December 8, 2025. The bonds will continue to trade normally during this suspension. Investors should note that the current market price of the bonds is above the put option price, so exercising the put option may result in a loss.