LONGDA(SZ:002726) Zheng Quan Zhi Xing·2025-05-11 08:21Summary of Key Points Core Viewpoint - The company announces the conditional redemption of its convertible bonds ("龙大转债") due to the stock price falling below the specified threshold, allowing bondholders to redeem their bonds at a predetermined price [1][2][3]. Redemption Overview - The redemption clause is activated as the stock price has been below 70% of the conversion price (6.51 CNY) for 30 consecutive trading days [1][2]. - Bondholders can redeem their bonds at face value plus accrued interest, with the redemption price calculated to be 101.479 CNY per bond (including interest and tax) [3][4]. Interest Calculation - The accrued interest for the bonds is calculated using the formula: IA = B × i × t / 365, where B is the total face value of the bonds, i is the annual coupon rate (1.8%), and t is the number of days from the last interest payment to the redemption date [2][3]. Tax Implications - Individual investors will have a net redemption amount of 101.184 CNY per bond after a 20% tax on interest income, while qualified foreign institutional investors (QFII and RQFII) are exempt from this tax [3][4]. Redemption Procedure - The company will announce the redemption details on the trading day following the fulfillment of the redemption conditions, with daily reminders until the end of the redemption period [4][5]. - Bondholders must submit their redemption requests between May 9 and May 15, 2025, and can withdraw their requests on the same day [5]. Trading During Redemption Period - The bonds will continue to trade during the redemption period, but conversion to stock will be suspended [5][6].