Sitong New Metal to use repurchased shares for convertible bond conversion

Hebei Sitong New Metal Material Co., Ltd. announced on November 25, 2025, a change in the purpose of its share repurchase. Originally intended for employee stock ownership plans or equity incentives, 2,688,558 repurchased shares will now be used for the conversion of the company's convertible bonds. The repurchase, completed on February 6, 2024, involved a total of 49,978,490.01 yuan.

This strategic shift aligns with the company's current development and convertible bond conversion progress, aiming to mitigate share dilution and optimize the capital structure. The decision, approved by the board of directors, does not require shareholder approval and is not expected to materially affect the company's operations or financial standing.

Concurrently, the company issued a sixth reminder for the early redemption of its "Sitong Convertible Bond." The bond’s redemption price is 100.39 yuan per bond, inclusive of accrued interest. Trading will halt on December 12, 2025, with a conversion stop date of December 17, 2025. The early redemption mechanism was triggered as the company's stock price met the specified conditions between September 29, 2025, and November 17, 2025.