Ningbo Sunrise(SZ:002937) Zheng Quan Zhi Xing·2025-05-26 12:34Core Points - Ningbo Xingrui Electronic Technology Co., Ltd. is issuing convertible bonds named "Xingrui Convertible Bonds" with a total issuance scale of RMB 462 million [3][4] - The bonds will have a maturity period of six years, from July 24, 2023, to July 23, 2029, with an annual interest rate of 0.2% for the first year [3][4] - The initial conversion price for the bonds is set at RMB 26.30 per share, which will be adjusted based on specific corporate actions such as stock dividends and capital increases [6][10] Bond Issuance Details - The bond issuance was approved by the company's board meetings held on October 26, 2022, and April 14, 2023, and received regulatory approval from the China Securities Regulatory Commission on June 28, 2023 [2] - The bonds are issued in a total of 4,620,000 units, each with a face value of RMB 100 [3][4] - The bonds will pay interest annually, with the first interest payment occurring five working days after the end of the first year [4][5] Conversion and Adjustment Mechanism - The conversion period for the bonds will start on January 29, 2024, and end on July 23, 2029 [5][6] - The conversion price will be adjusted in accordance with the company's actions such as stock dividends, capital increases, and cash dividends, ensuring the protection of bondholders' rights [8][9] - The first adjustment of the conversion price occurred on January 2, 2024, reducing it from RMB 26.30 to RMB 26.20 per share, and further adjusted to RMB 25.90 following a cash dividend distribution [9][10] Credit Rating and Management - The bonds have been rated AA- by Dongfang Jincheng International Credit Evaluation Co., Ltd., with a stable outlook [6] - China International Capital Corporation (CICC) serves as the sponsor, lead underwriter, and trustee for the bonds, ensuring the protection of bondholders' interests [2][10]