Humon convertible bonds face mandatory redemption as conversion window closes

Shandong Humon Smelting Co., Ltd. has issued an advisory for holders of its Hengbang convertible bonds, announcing that the last day for bondholders to convert their bonds into shares is November 27, 2025. Following this date, any unconverted bonds will be mandatorily redeemed at a price of 100.28 yuan per bond, including accrued interest. Investors are cautioned that this redemption price may differ significantly from market prices, potentially leading to losses if they fail to convert in time.

The company's board decided to exercise its early redemption right, triggered by the stock price consistently exceeding 130% of the current conversion price for at least 15 trading days within a 30-day period between September 9 and October 17, 2025. The bonds will cease trading on November 25, 2025, with the redemption date scheduled for November 28, 2025. Funds are expected to reach the China Securities Depository and Clearing Corporation Limited account by December 3, 2025, and bondholders' accounts by December 5, 2025.

Hengbang convertible bonds, with a face value of 100 yuan per bond, were issued on June 12, 2023, raising a total of 316,000 million yuan. The current conversion price is 11.19 yuan per share, adjusted from 11.33 yuan per share effective June 12, 2025. Jiangxi Copper Corporation Limited, a controlling shareholder, sold 5,548,463 bonds between April 18 and October 17, 2025, reducing its holding to 1,271,383 bonds.