Core Viewpoint - The company, Tianshan Aluminum Group Co., Ltd., announces the full redemption of its 2024 non-publicly issued exchangeable bonds by its controlling shareholder, Shihezi Jinlong Energy Industry Chain Co., Ltd., with the redemption date set for November 18, 2025 [1][10]. Redemption Details - The redemption of the bonds, known as "24 Jinlong EB01" (bond code: 117225.SZ), will occur on November 18, 2025, with the redemption price set at RMB 100.4808 per bond, including accrued interest [3][5]. - The redemption registration date is November 17, 2025, and the funds will be credited to investors' accounts on the same day [3][5]. - The bonds will be fully redeemed, and investors who purchase the bonds on November 17, 2025, will be entitled to the principal and interest [4][5]. Interest Payment - The bonds will accrue interest from December 2, 2024, to November 17, 2025, with a nominal annual interest rate of 0.5%. Each 10 bonds (face value of RMB 1,000) will yield RMB 4.808 in interest (tax included) [7][13]. - After tax, individual and mutual fund bondholders will receive RMB 3.847 per 10 bonds, while non-resident enterprises will receive the full RMB 4.808 [7][13]. Implementation Procedure - The company will entrust China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, to handle the redemption process. The redemption funds will be transferred to the designated bank account two trading days prior to the redemption date [7][13].

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]

Core Viewpoint - The announcement details the progress of the share conversion related to the non-public issuance of exchangeable bonds by the controlling shareholder, Jinlong Energy, and the resulting changes in shareholding percentages [2][3]. Group 1: Share Conversion Details - Jinlong Energy's first phase of exchangeable bonds (24 Jinlong EB01) entered the conversion period on June 3, 2025, and the second phase (24 Jinlong EB02) on June 30, 2025 [2]. - From July 21 to September 5, 2025, 593,741 shares were converted from the first phase, reducing Jinlong Energy's shareholding to 41.9997% [3]. - From September 11 to October 20, 2025, a total of 47,172,054 shares were converted, which included 7,380,404 shares from the first phase and 39,791,650 shares from the second phase, bringing Jinlong Energy's shareholding down to 40.99% [3]. Group 2: Implications of Shareholding Changes - The changes in shareholding do not result in a change of control for the company [4]. - The conversion of the exchangeable bonds is subject to uncertainty regarding whether bondholders will choose to convert and the specific number of shares converted [4].