HXG(SH:603112) Shang Hai Zheng Quan Bao·2025-04-26 02:16Core Viewpoint - Shanxi Huaxiang Group Co., Ltd. has triggered the conditional redemption clause for its convertible bonds due to the stock price meeting the specified criteria, leading to the decision to redeem the bonds early [2][6][7]. Group 1: Convertible Bond Redemption Announcement - The company announced that from March 21, 2025, to April 25, 2025, the stock price closed at or above 130% of the current conversion price for 15 out of 25 trading days, thus triggering the redemption clause for "Huaxiang Convertible Bonds" [2][6]. - The board of directors approved the early redemption of "Huaxiang Convertible Bonds" at a meeting held on April 25, 2025, with a unanimous vote in favor [7]. - Investors can either continue trading the bonds in the secondary market or convert them at the conversion price of 11.65 yuan per share, or face mandatory redemption at 100 yuan per bond plus accrued interest [2][7]. Group 2: Convertible Bond Issuance Overview - The company issued 8,000,000 convertible bonds on December 22, 2021, with a total value of 80 million yuan, netting approximately 78.65 million yuan after expenses [3]. - The bonds have a six-year term, with varying interest rates from 0.4% in the first year to 3.0% in the sixth year [3]. - The initial conversion price was set at 12.99 yuan per share, which has been adjusted to 11.65 yuan per share [3]. Group 3: Redemption Terms and Conditions - The conditional redemption clause allows the company to redeem the bonds if the stock price meets the specified criteria over a 30-day period [4][6]. - The calculation for accrued interest is based on the bondholder's total face value, the annual interest rate, and the number of days since the last interest payment [5]. Group 4: Shareholder Transactions - Prior to the redemption conditions being met, the company's director sold all 28,730 bonds held, with no purchases made during the six months leading up to the redemption [8].