天山铝业：控股股东因可交换债换股被动减持，持股降至38.98%

Core Points - Tianshan Aluminum announced that from October 31 to November 4, 2025, its controlling shareholder, Jinlong Energy, will issue "24 Jinlong EB01" and "24 Jinlong EB02" exchangeable bonds, resulting in the exchange of a total of 41.71663 million shares, which accounts for 0.90% of the company's total share capital [1] - Following this equity change, Jinlong Energy's shareholding in the company will be passively reduced by 41.71663 million shares, bringing its and its concerted parties' shareholding ratio down to 38.98% [1] - This equity change is a result of the bondholders exchanging their bonds for shares, which does not trigger a mandatory tender offer and will not lead to a change in the company's controlling shareholder [1]