Changjiang Securities(SZ:000783) Zheng Quan Zhi Xing·2025-06-12 09:27Group 1 - The core viewpoint of the article is that Jiangyang Securities has conducted a review regarding Zhejiang Yanpai Filtration Technology Co., Ltd.'s decision not to redeem its convertible bonds early, confirming that the decision aligns with relevant regulations and company interests [1][6]. Group 2 - The convertible bonds were issued on July 10, 2024, and listed on the Shenzhen Stock Exchange on July 26, 2024, under the name "Yanpai Convertible Bonds" with the code "123243" [1]. - The initial conversion price for the bonds was set at 7.58 CNY per share, which was adjusted to 7.57 CNY per share on September 25, 2024, due to an increase in the company's total share capital [2]. - A second adjustment of the conversion price to 7.27 CNY per share will take effect on June 6, 2025, following the company's annual equity distribution [3]. Group 3 - The bonds have conditional redemption clauses, allowing the company to redeem them if the stock price exceeds 130% of the conversion price for a specified period or if the remaining balance of the bonds is below 30 million CNY [4]. - The redemption conditions were triggered between May 6, 2025, and June 12, 2025, as the stock price met the required thresholds [5]. Group 4 - The company's board decided not to exercise the early redemption option on June 12, 2025, considering the short conversion period and current market conditions, aiming to protect the interests of bondholders [5]. - There are no plans for major shareholders or executives to reduce their holdings in the bonds in the next six months, ensuring compliance with legal regulations [6]. Group 5 - The sponsor, Jiangyang Securities, confirmed that the decision not to redeem the bonds early was approved by the board and complied with relevant laws and regulations [6].