Zheng Quan Zhi Xing·2025-06-06 10:37Core Viewpoint - The report discusses the issuance of convertible bonds by Shandong Linuo Special Glass Co., Ltd., detailing the terms, conditions, and the decision not to redeem the bonds early to protect investor interests [2][7][9]. Group 1: Convertible Bond Details - Issuer: Shandong Linuo Special Glass Co., Ltd. [2] - Bond Name: Linuo Convertible Bonds [2] - Bond Code: 123221 [2] - Total Issuance Size: 500 million RMB (5 million bonds) [2] - Face Value and Issuance Price: Each bond has a face value of 100 RMB, issued at face value [2] - Duration: From August 23, 2023, to August 22, 2029 [3] - Interest Rates: 0.30% for the first year, increasing to 2.50% by the sixth year [3] - Payment Method: Annual interest payments with principal repayment at maturity [4] - Conversion Period: From February 29, 2024, to August 22, 2029 [5] - Initial Conversion Price: 14.40 RMB per share, currently adjusted to 14.20 RMB per share [5] - Credit Rating: A+ for both the issuer and the bonds, with a stable outlook [5] Group 2: Redemption Conditions - Conditional Redemption: The company can redeem the bonds if the stock price exceeds 130% of the conversion price for 15 out of 30 consecutive trading days or if the unconverted bond balance falls below 30 million RMB [6] - Decision Against Early Redemption: The board decided not to exercise the early redemption option to protect investor interests, considering market conditions and company circumstances [7][9] Group 3: Management and Compliance - No Transactions by Key Stakeholders: The actual controller, major shareholders, and executives did not trade the bonds in the six months prior to the redemption conditions being met [8] - Future Compliance: Any future reduction in bond holdings by key stakeholders will be conducted in accordance with legal regulations [8][9]