SMIC(SH:600810) Shang Hai Zheng Quan Bao·2025-05-20 20:41Core Viewpoint - The announcement details the terms and conditions for the repurchase of "Shenma Convertible Bonds" by the company, highlighting the risks associated with the repurchase price being lower than the current market price [2][3][4]. Summary by Sections Repurchase Terms - The repurchase price for "Shenma Convertible Bonds" is set at 100.16 RMB per bond, which includes accrued interest [3][9]. - The repurchase period is from May 28, 2025, to June 4, 2025, with the payment date for repurchased funds on June 9, 2025 [3][10]. - During the repurchase period, the bonds will stop being convertible into shares [3][12]. Repurchase Rights - Bondholders have the right to sell back part or all of their unconverted bonds, and this repurchase is not mandatory [5][6]. - The accrued interest for the third year is calculated at 0.16 RMB per bond based on a nominal interest rate of 0.80% [4][9]. Repurchase Procedure - Bondholders must submit their repurchase requests through the Shanghai Stock Exchange system during the specified period [6][8]. - If a submission fails on the first day, bondholders can continue to submit requests on subsequent days within the repurchase period [7]. Trading During Repurchase Period - "Shenma Convertible Bonds" will continue to trade during the repurchase period but will not be convertible [12]. - If the total face value of the bonds falls below 30 million RMB due to the repurchase, trading will still continue until the end of the repurchase period [12]. Bondholder Meeting - The first bondholder meeting for "Shenma Convertible Bonds" in 2025 was held on May 20, 2025, with 15.98% of the total bonds represented [18]. - A resolution was passed to use part of the raised funds for new investment projects [19].