Core Points - The company announced the early redemption of the "Bai Dian Convertible Bonds" with a redemption price of 101.5726 CNY per bond, effective from August 29, 2025 [1][2] - The last trading day for the bonds is set for August 25, 2025, and the last conversion day is August 28, 2025 [1][6] - The early redemption was triggered as the company's stock price met the condition of being at least 130% of the conversion price for 15 out of 30 trading days [3][4] Redemption Details - Redemption registration date is August 28, 2025, and the funds will be distributed on August 29, 2025 [1][6] - Investors can either trade the bonds in the secondary market or convert them at a conversion price of 7.63 CNY per share [2][5] - The total interest accrued for the bonds is calculated to be 1.5726 CNY per bond, leading to a total redemption price of 101.5726 CNY [4][5] Tax Implications - Individual investors are subject to a 20% tax on the interest income from the bonds, resulting in a net redemption amount of 101.2581 CNY after tax [4][5] - For resident enterprises, the tax on bond interest income is self-reported, with the gross redemption amount remaining at 101.5726 CNY [5] Trading and Conversion - As of August 22, 2025, there is only one trading day left before the last trading day, and four trading days left before the last conversion day [6][7] - The bonds will be frozen after the redemption registration date, and any unconverted bonds will be redeemed at the specified price [7] Delisting Information - The "Bai Dian Convertible Bonds" will be delisted from the Shanghai Stock Exchange starting August 29, 2025 [2][6]

Core Points - The company has triggered the conditional redemption clause for the "White Electric Convertible Bonds" due to the stock price being above 130% of the conversion price for 15 trading days [2][3] - The redemption date is set for August 28, 2025, with the redemption price being 101.5726 yuan per bond, which includes accrued interest [3][4] - The bonds will be delisted from the Shanghai Stock Exchange starting August 29, 2025, after the completion of the redemption [10] Redemption Details - The conditional redemption clause allows the company to redeem the bonds if the stock price remains above 9.919 yuan per share for 15 trading days [2][3] - The accrued interest for the bonds is calculated to be 1.5726 yuan per bond, based on a 2.00% annual interest rate over 287 days [4][5] - Investors must be aware that if they do not convert or sell their bonds by the deadline, they will face forced redemption at the specified price [12] Important Dates - Last trading day for the bonds is August 25, 2025 [9] - Last conversion day is August 28, 2025 [9] - Redemption funds will be distributed on August 29, 2025 [8]

| 证券代码:603861 | 证券简称:白云电器 | 公告编号:2025-069 | | --- | --- | --- | | 转债代码:113549 | 转债简称:白电转债 | | 广州白云电器设备股份有限公司 关于实施"白电转债"赎回暨摘牌的 第七次提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 截至 2025 年 8 月 22 日收市后，距离 2025 年 8 月 25 日（"白电转债"最 后交易日）仅剩 1 个交易日，2025 年 8 月 25 日为"白电转债"最后一个交易 日。 最后转股日：2025 年 8 月 28 日 截至 2025 年 8 月 22 日收市后，距离 2025 年 8 月 28 日（"白电转债"最 后转股日）仅剩 4 个交易日，2025 年 8 月 28 日为"白电转债"最后一个转股 日。 本次提前赎回完成后，"白电转债"将自 2025 年 8 月 29 日起在上海证 券交易所摘牌。 投资者所持可转债除在规定时限内通过二级市场继续交易或按照 7.63 元的转股 ...

Core Viewpoint - The distribution cabinet industry is experiencing unprecedented growth opportunities due to rapid urbanization and the development of the renewable energy sector, with China being a major consumer market for distribution cabinets [1][4][6]. Industry Definition and Classification - Distribution cabinets are electrical equipment assemblies used for centralized control, distribution of electrical energy, and protection, monitoring, and control of circuits and electrical devices. They can be classified by purpose (e.g., power distribution, lighting, control) and structure (e.g., drawer-type, fixed-type) [2][6]. Current Industry Development Status - The global distribution cabinet market is projected to grow from $30.91 billion in 2018 to $35.57 billion by 2024, with the Asia-Pacific region accounting for 49.29% of the market share [4][6]. In China, the demand for distribution cabinets is expected to reach 1,563,183 units in 2024, with a market size of 62.42 billion yuan [7][9]. Industry Demand and Market Size - In 2024, the demand for distribution cabinets in China is expected to be 1,563,183 units, with a market size of 62.42 billion yuan. By 2025, demand is projected to increase to approximately 1,665,364 units, with a market size of about 66.27 billion yuan [7][9]. Industry Production and Output - The production value of China's distribution cabinet industry is expected to reach 64.48 billion yuan in 2024, with an output of 1,588,089 units. By 2025, the production value is projected to be 68.4 billion yuan, with an output of 1,690,422 units [9][19]. Industry Supply Chain - The upstream of the distribution cabinet industry includes raw materials such as metals (copper, aluminum, steel), insulation materials, and electrical components. The midstream involves research, design, production, and sales, while the downstream applications span various sectors including power, construction, and transportation [11][16]. Industry Development Environment - Related Policies - Various policies have been issued to promote the high-quality development of the distribution network, including standards for energy efficiency and the integration of renewable energy [13][15]. Industry Competitive Landscape - The distribution cabinet market has many regional small and medium-sized enterprises in the low-end segment, leading to intense price competition. In the high-end market, leading international companies dominate due to their technological advantages [16][19]. Industry Development Trends - The industry is moving towards increased intelligence, with future distribution cabinets expected to feature real-time monitoring, fault diagnosis, and remote control capabilities [23]. Additionally, there is a trend towards green and environmentally friendly designs, focusing on energy efficiency and the use of recyclable materials [24]. The demand for smaller and more integrated distribution cabinets is also rising, driven by space efficiency requirements [25].

Core Points - The company has announced the early redemption of the "Bai Dian Convertible Bonds" due to the stock price meeting the conditions for redemption [4][7] - The last trading day for the bonds is set for August 25, 2025, and the last conversion day is August 28, 2025 [2][14] - The redemption price is set at 101.5726 yuan per bond, which includes accrued interest [9][10] Redemption Details - The bonds will be redeemed at a price of 101.5726 yuan per bond, which consists of the face value of 100 yuan plus accrued interest of 1.5726 yuan [9][10] - The redemption registration date is August 28, 2025, and the funds will be distributed on August 29, 2025 [5][13] - The company will notify bondholders of the redemption details through a prompt announcement before the redemption period ends [12] Conditions for Redemption - The redemption was triggered as the company's stock price was above 130% of the conversion price for 15 trading days [4][7] - The company has the right to redeem the bonds if the remaining balance of unconverted bonds is less than 30 million yuan [6] Important Dates - Last trading day: August 25, 2025 [5][14] - Last conversion day: August 28, 2025 [2][14] - Redemption registration date: August 28, 2025 [5][8] - Redemption funds distribution date: August 29, 2025 [5][13] Additional Information - The bonds will be delisted from the Shanghai Stock Exchange starting August 29, 2025 [15] - Investors are advised to convert or sell their bonds within the specified time frame to avoid forced redemption [3][17]

Core Points - The company announced the early redemption of the "Bai Dian Convertible Bonds" with a redemption price of 101.5726 CNY per bond, effective from August 29, 2025 [1][2][4] - The last trading day for the bonds is August 25, 2025, and the last conversion day is August 28, 2025 [1][6] - The bonds will be delisted from the Shanghai Stock Exchange on August 29, 2025, following the completion of the redemption [2][6] Redemption Details - The redemption registration date is August 28, 2025, and the redemption funds will be distributed on August 29, 2025 [1][5] - Investors can either trade the bonds in the secondary market or convert them at a conversion price of 7.63 CNY per share within the specified time [2][3] - The company has triggered the conditional redemption clause as the stock price has met the required threshold [3][4] Financial Implications - The redemption price includes accrued interest calculated at a rate of 2.00%, resulting in a total of 101.5726 CNY per bond [4][5] - After tax, the actual redemption amount for individual investors will be 101.2581 CNY per bond due to a 20% tax on interest income [4][5] Trading and Conversion - As of August 21, 2025, there are only 2 trading days left before the last trading day and 5 days before the last conversion day [1][6] - Investors are advised to convert or sell their bonds before the deadlines to avoid forced redemption at a lower price [2][7]

证券代码:603861 证券简称:白云电器 公告编号:2025-067 转债代码:113549 转债简称:白电转债 广州白云电器设备股份有限公司 关于实施"白电转债"赎回暨摘牌的 第五次提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： ? 赎回登记日：2025 年 8 月 28 日 ? 赎回价格：101.5726 元/张 ? 赎回资金发放日：2025 年 8 月 29 日 ? 最后交易日：2025 年 8 月 25 日 截至 2025 年 8 月 20 日收市后，距离 2025 年 8 月 25 日（"白电转债"最 后交易日）仅剩 3 个交易日，2025 年 8 月 25 日为"白电转债"最后一个交易 日。 ? 最后转股日：2025 年 8 月 28 日 截至 2025 年 8 月 20 日收市后，距离 2025 年 8 月 28 日（"白电转债"最 后转股日）仅剩 6 个交易日，2025 年 8 月 28 日为"白电转债"最后一个转股 日。 ? 本次提前赎回完成后，"白电转债"将自 2025 ...

（编辑 任世碧） 证券日报网讯 8月21日晚间，白云电器发布公告称，截至2025年8月21日收市后，距离2025年8月28日 （"白电转债"最后转股日）仅剩5个交易日，2025年8月28日为"白电转债"最后一个转股日。本次提前赎 回完成后，"白电转债"将自2025年8月29日起在上海证券交易所摘牌。投资者所持可转债除在规定时限 内通过二级市场继续交易或按照7.63元的转股价格进行转股外，仅能选择以100元/张的票面价格加当期 应计利息1.5726元/张（即合计101.5726元/张）被强制赎回。若被强制赎回，可能面临较大投资损失。 ...

| 证券代码:603861 | 证券简称:白云电器 | 公告编号:2025-068 | | --- | --- | --- | | 转债代码:113549 | 转债简称:白电转债 | | 广州白云电器设备股份有限公司 关于实施"白电转债"赎回暨摘牌的 第六次提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 截至 2025 年 8 月 21 日收市后，距离 2025 年 8 月 25 日（"白电转债"最 后交易日）仅剩 2 个交易日，2025 年 8 月 25 日为"白电转债"最后一个交易 日。 最后转股日：2025 年 8 月 28 日 截至 2025 年 8 月 21 日收市后，距离 2025 年 8 月 28 日（"白电转债"最 后转股日）仅剩 5 个交易日，2025 年 8 月 28 日为"白电转债"最后一个转股 日。 本次提前赎回完成后，"白电转债"将自 2025 年 8 月 29 日起在上海证 券交易所摘牌。 投资者所持可转债除在规定时限内通过二级市场继续交易或按照 7.63 元的转股 ...

广州白云电器设备股份有限公司 | 证券代码:603861 | 证券简称:白云电器 | 公告编号:2025-067 | | --- | --- | --- | | 转债代码:113549 | 转债简称:白电转债 | | 重要内容提示： 截至 2025 年 8 月 20 日收市后，距离 2025 年 8 月 25 日（"白电转债"最 后交易日）仅剩 3 个交易日，2025 年 8 月 25 日为"白电转债"最后一个交易 日。 最后转股日：2025 年 8 月 28 日 截至 2025 年 8 月 20 日收市后，距离 2025 年 8 月 28 日（"白电转债"最 后转股日）仅剩 6 个交易日，2025 年 8 月 28 日为"白电转债"最后一个转股 日。 本次提前赎回完成后，"白电转债"将自 2025 年 8 月 29 日起在上海证 券交易所摘牌。 投资者所持可转债除在规定时限内通过二级市场继续交易或按照 7.63 元的转股价格进行转股外，仅能选择以 100 元/张的票面价格加当期应计利息 1.5726 元/张（即合计 101.5726 元/张）被强制赎回。若被强制赎回，可能面临 较大投资损失。 关于实施"白电 ...