Core Points - Haitai Technology announced that unconverted "Haitai Convertible Bonds" will be forcibly redeemed at a price of 100.260 CNY per bond after the market closes on September 29, 2025 [2] - The current market price of "Haitai Convertible Bonds" significantly differs from the redemption price, prompting a reminder for bondholders to convert their bonds within the specified period to avoid potential losses [2] Summary by Category - **Company Announcement** - Haitai Technology has issued a notice regarding the forced redemption of its convertible bonds, emphasizing the importance of timely conversion by bondholders [2] - **Market Implications** - The significant disparity between the market price and the redemption price of "Haitai Convertible Bonds" raises concerns for investors, highlighting the need for awareness of investment risks [2]

Core Viewpoint - The recent volatility in the market for convertible bonds, particularly the sharp decline in the price of Haitai Convertible Bond, serves as a cautionary lesson for investors regarding the risks associated with speculative trading in this asset class [1][2][4]. Group 1: Haitai Convertible Bond Performance - Haitai Convertible Bond experienced a significant price increase of over 19% on September 12, followed by a sharp decline, closing at a 20% limit down on September 15, despite the underlying stock showing minimal movement [1][2]. - On September 15, the underlying stock of Haitai Technology (301022) fell by 1.61%, while the convertible bond initially surged to 223.225 yuan per share before plummeting [2]. - The bond's price drop was attributed to unusual trading patterns and the impending forced redemption, which may have prompted some investors to sell off their holdings [2][3]. Group 2: Market Behavior of Convertible Bonds - The phenomenon of "flash crashes" in convertible bonds, referred to as "demon bonds," has been observed frequently this year, with several instances of significant price fluctuations occurring without corresponding movements in the underlying stocks [4]. - Other convertible bonds, such as Haibo Convertible Bond and Tianchuang Convertible Bond, have also exhibited similar volatile behavior, leading to substantial losses for investors who bought at high prices [4]. - The market for convertible bonds can be heavily influenced by speculative trading, particularly in smaller or newly issued bonds, which can lead to abnormal price movements and deviations in conversion premium rates [4][5]. Group 3: Investor Caution - Analysts warn that the speculative trading of these "demon bonds" resembles a "pump and dump" scheme, where prices are artificially inflated before a sudden sell-off occurs [5]. - Investors are advised to remain vigilant regarding convertible bonds with high conversion premiums to protect their investments in a volatile market [5].

Core Viewpoint - The recent sharp decline in Haitai Convertible Bond highlights the risks associated with speculative trading in the convertible bond market, particularly in the context of unusual price movements and impending forced redemption [1][3][4]. Group 1: Haitai Convertible Bond Performance - Haitai Convertible Bond experienced a significant price surge of over 19% on September 12, despite the underlying stock showing minimal volatility [1][3]. - On September 15, the bond reached a peak price of 223.225 CNY per share before closing with a 20% limit down, resulting in a loss exceeding 22% for investors who bought at the peak [3][4]. - The bond's price drop occurred even as the underlying stock, Haitai Technology, fell only 1.61% on the same day, indicating a disconnect between the bond and stock performance [3]. Group 2: Redemption and Market Dynamics - Haitai Technology announced that the bond would be subject to conditional redemption due to the stock price exceeding 130% of the conversion price for 15 trading days [4]. - The company plans to redeem the bonds at 100.260 CNY per share if they remain unconverted by September 29, 2025, urging investors to convert their bonds to avoid potential losses [4]. - The bond's conversion premium remains at 12.72%, suggesting that the bond's market price is still above its conversion value, which may attract speculative trading [3]. Group 3: Speculative Trading in Convertible Bonds - The phenomenon of "flash crashes" in convertible bonds, referred to as "demon bonds," has been observed frequently this year, with similar patterns seen in other convertible bonds like Haibo and Tianchuang [6][7]. - These bonds often experience extreme price volatility due to low liquidity and speculative trading, leading to significant losses for investors who buy at inflated prices [7][8]. - Analysts warn that such speculative behavior resembles a "kill pig" scheme, where prices are artificially inflated before a sudden sell-off, disrupting market order and harming investor interests [8].

| 证券代码：301022 | 证券简称：海泰科 | 公告编号：2025-152 | | --- | --- | --- | | 债券代码：123200 | 债券简称：海泰转债 | | 青岛海泰科模塑科技股份有限公司 关于提前赎回海泰转债的第十七次提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 特别提示： 1、"海泰转债"赎回价格：100.260 元/张（债券面值加当期应计利息，当期年 利率为 1.00%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任 公司深圳分公司（以下简称"中国结算"）核准的价格为准。 8、发行人资金到账日（到达中国结算账户）：2025 年 10 月 13 日 9、投资者赎回款到账日：2025 年 10 月 15 日 10、赎回类别：全部赎回 11、本次赎回完成后，"海泰转债"将在深圳证券交易所（以下简称"深交所"） 摘牌。债券持有人持有的"海泰转债"如存在被质押或被冻结的，建议在停止转股 日前解除质押或冻结，以免出现因无法转股而被赎回的情形。 12、债券持有人若转股，需开通创业板交易权限。投资者不符合创业板股票 ...

Core Viewpoint - Haitai Technology announced a mandatory redemption of its convertible bonds, "Haitai Convertible Bonds," at a price of 100.260 CNY per bond, effective after the market closes on September 29, 2025, due to a significant discrepancy between the market price and the redemption price [1] Summary by Relevant Sections - **Company Announcement** - Haitai Technology issued a notice regarding the mandatory redemption of "Haitai Convertible Bonds" [1] - The redemption price is set at 100.260 CNY per bond [1] - The deadline for bondholders to convert their bonds is September 29, 2025 [1] - **Market Implications** - There is a notable difference between the current market price of the bonds and the redemption price [1] - Investors are advised to convert their bonds within the specified period to avoid potential losses [1]

| 证券代码：301022 | 证券简称：海泰科 | 公告编号：2025-151 | | --- | --- | --- | | 债券代码：123200 | 债券简称：海泰转债 | | 青岛海泰科模塑科技股份有限公司 关于提前赎回海泰转债的第十六次提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 特别提示： 1、"海泰转债"赎回价格：100.260 元/张（债券面值加当期应计利息，当期年 利率为 1.00%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任 公司深圳分公司（以下简称"中国结算"）核准的价格为准。 8、发行人资金到账日（到达中国结算账户）：2025 年 10 月 13 日 9、投资者赎回款到账日：2025 年 10 月 15 日 10、赎回类别：全部赎回 11、本次赎回完成后，"海泰转债"将在深圳证券交易所（以下简称"深交所"） 摘牌。债券持有人持有的"海泰转债"如存在被质押或被冻结的，建议在停止转股 日前解除质押或冻结，以免出现因无法转股而被赎回的情形。 12、债券持有人若转股，需开通创业板交易权限。投资者不符合创业板股票 ...

| 证券代码：301022 | 证券简称：海泰科 | 公告编号：2025-150 | | --- | --- | --- | | 债券代码：123200 | 债券简称：海泰转债 | | 序 号 购买主 体 签约银行 产品 名称 产品 类型 产品说明 起息 日 到期 日 预期 年化 收益 1 海泰科 模塑 中信银行青岛 城阳支行公司 辽宁路支行 协定 存款 活期 存款 基准利率 1.15%，减 70 个基点，活期账户 内超过 10 万元执行 2025. 09.10 2026. 09.09 0.45 % 一、本次使用暂时闲置募集资金进行现金管理的进展情况 | | 海泰科 | 招商银行股份 有限公司青岛 | 协定 | 活期 70 | 基准利率 1.15%，减 个基点，活期账户 | 2025. | 2026. | 0.45 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2 | （安徽） | | 存款 | 存款 | | 09.10 | 09.09 | % | | | | 城阳支行 | | | 内超过 万元执行 10 | | | | 青岛海泰科模塑 ...

| 证券代码：301022 | 证券简称：海泰科 | 公告编号：2025-149 | | --- | --- | --- | | 债券代码：123200 | 债券简称：海泰转债 | | 青岛海泰科模塑科技股份有限公司 关于开立募集资金现金管理产品专用结算账户并 签订三方监管协议的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 青岛海泰科模塑科技股份有限公司（以下简称"公司"）于 2025 年 4 月 23 日 召开了第二届董事会第二十九次会议、第二届监事会第二十四次会议，审议通过 了《关于使用暂时闲置募集资金及自有资金进行现金管理的议案》，同意公司及全 资子公司在确保不影响募集资金投资项目建设、不影响正常生产经营及确保资金 安全的情况下，使用不超过人民币 35,000.00 万元的暂时闲置募集资金和不超过人 民币 10,000.00 万元的自有资金进行现金管理，使用期限自董事会审议通过之日起 12 个月内有效，上述额度可以由公司使用，亦可以由公司的全资子公司使用，但 应予以合并计算。本次额度生效后将覆盖前次授权额度，在前述额度和期限范围 内，资金可循环滚 ...

Core Points - Haitai Technology announced that the "Haitai Convertible Bonds" will be forcibly redeemed at a price of 100.260 CNY per bond after the market closes on September 29, 2025, if not converted by that date [2] - The current market price of the "Haitai Convertible Bonds" is significantly different from the redemption price, prompting the company to remind bondholders to convert their bonds within the specified period to avoid potential losses [2] Summary by Category - **Company Announcement** - Haitai Technology has issued a notice regarding the forced redemption of its convertible bonds, emphasizing the importance of timely conversion by bondholders [2] - **Market Implications** - The disparity between the secondary market price of the bonds and the redemption price raises concerns for investors, highlighting the need for vigilance in managing their investments [2]

证券日报网讯海泰科（301022）9月11日在互动平台回答投资者提问时表示，截至2025年9月10日，公司 股东总户数为11942户。 ...