Zheng Quan Zhi Xing·2025-07-01 16:40Summary of Key Points Core Viewpoint - The company, Shenzhen Daotong Technology Co., Ltd., has decided not to exercise the early redemption option for its convertible bonds, reflecting confidence in its future development and internal value, while considering current operational conditions and market environment [6]. Group 1: Convertible Bond Issuance Overview - The company issued 12.8 million convertible bonds with a total value of 128 million yuan, approved by the China Securities Regulatory Commission, with a maturity of six years from July 8, 2022, to July 7, 2028 [1]. - The bonds began trading on the Shanghai Stock Exchange on July 28, 2022, under the name "Daotong Convertible Bonds" and code "118013" [1]. Group 2: Conversion Price Adjustments - The initial conversion price was set at 34.73 yuan per share starting January 16, 2023, and was adjusted to 34.71 yuan on August 16, 2023, following the completion of a stock incentive plan [2]. - The conversion price was further adjusted to 34.32 yuan due to the company's annual equity distribution, effective from May 20, 2024 [2]. - The latest adjustment set the conversion price at 22.55 yuan per share, effective from May 14, 2025, following the annual equity distribution [3][4]. Group 3: Redemption Terms and Conditions - The company has the right to redeem the bonds if the stock price exceeds 130% of the conversion price for at least 15 out of 30 consecutive trading days or if the remaining unconverted bonds are less than 30 million yuan [4][5]. - The board of directors decided not to exercise the early redemption right, maintaining this stance for six months following the decision [6]. Group 4: Shareholder Activity - There have been no transactions of the convertible bonds by major shareholders, including the actual controller and senior management, in the six months prior to the redemption conditions being met [6].