GDTC(SH:688186) Zheng Quan Zhi Xing·2025-07-02 16:14Summary of Key Points Core Viewpoint - Zhangjiagang Wide Special Materials Co., Ltd. is considering the potential redemption of its convertible bonds ("Wide Convertible Bonds") based on specific conditions related to the stock price performance and the bond's terms outlined in the prospectus [1][4]. Convertible Bond Issuance Overview - The company issued 15,500,000 convertible bonds with a face value of 100 yuan each, totaling 1.55 billion yuan, which began trading on November 9, 2022 [1][2]. - The initial conversion price was set at 33.12 yuan per share, which was later adjusted to 20.84 yuan per share due to equity distribution and other factors [2][3]. Redemption Terms and Expected Trigger Conditions - The redemption terms allow the company to redeem all or part of the unconverted bonds if the stock price meets certain conditions, specifically if the closing price is at least 130% of the current conversion price for at least 15 out of 30 consecutive trading days [4][5]. - As of July 1, 2025, the stock price had met the 130% threshold for 10 trading days, indicating a potential trigger for the redemption clause [4][5]. Current Conversion Price - The latest conversion price for the "Wide Convertible Bonds" is 20.80 yuan per share, effective from July 2, 2025 [3].