Humon smelting redeems convertible bonds, boosting share capital

Shandong Humon Smelting has announced the results of its "Hengbang Convertible Bonds" redemption, with the bonds officially delisting from the Shenzhen Stock Exchange on December 8, 2025. The company triggered conditional redemption on October 17, 2025, after its stock price met the 130% threshold of the current conversion price for 15 out of 30 consecutive trading days. The redemption price was set at CNY 100.28 per bond (including accrued interest and tax).

A total of 48,473 "Hengbang Convertible Bonds" were redeemed, amounting to CNY 4,860,872.44. The bonds were originally issued on June 12, 2023, with a total face value of CNY 316,000 m. Following the redemption, the company's total share capital has increased by 281,956,008 shares due to cumulative conversions. This increase in total share capital will dilute earnings per share in the short term.

The conversion price of the "Hengbang Convertible Bonds" was adjusted twice due to equity distribution, first to CNY 11.33 per share on June 12, 2024, and then to CNY 11.19 per share on June 12, 2025. As of November 27, 2025, Shandong Humon Smelting's total share capital stands at 1,429,970,408 shares, up from 1,148,014,400 shares as of December 17, 2023.