TORCH ELECTRON(603678) 上海证券报·2025-03-31 18:04Core Viewpoint - Fujian Torch Electronics Technology Co., Ltd. has decided to exercise its early redemption rights for the "Torch Convertible Bonds" due to the stock price meeting the required conditions, which may lead to significant investment losses for bondholders who do not act in time [2][3]. Group 1: Early Redemption Announcement - The company held its 21st meeting of the 6th Board of Directors on March 24, 2025, and approved the proposal for early redemption of the "Torch Convertible Bonds" [2][3]. - The bonds will be redeemed at face value plus accrued interest for those registered on the redemption date [2][3]. - The company will disclose further details regarding the redemption process, price, and timing in subsequent announcements [2][3]. Group 2: Conditions for Redemption - The early redemption was triggered as the stock price closed above 130% of the conversion price of 23.89 CNY per share for fifteen trading days from March 4 to March 24, 2025 [3]. - The company has communicated that bondholders can either trade in the secondary market or convert their bonds at the specified conversion price before the redemption [2][3]. Group 3: Investor Advisory - Bondholders are advised to convert or sell their bonds within the stipulated time frame to avoid forced redemption at 100 CNY per bond plus accrued interest, which could result in substantial losses [2][5]. - It is recommended that investors check for any pledges or freezes on their bonds and resolve these issues to prevent forced redemption [4].