


Summary of Key Points Core Viewpoint - The company, Huitong New Materials Co., Ltd., has decided to exercise its right for early redemption of its convertible bonds, known as "Huitong Convertible Bonds," following the fulfillment of specific conditions outlined in the bond's terms [1][6]. Group 1: Convertible Bond Issuance Overview - The company issued 8,300,000 convertible bonds on December 6, 2022, with a total value of RMB 830 million, each with a face value of RMB 100 [1][2]. - The bonds are set to mature six years from the issuance date, specifically on December 5, 2028 [1]. Group 2: Conversion Price Adjustments - The conversion price for the bonds was adjusted from RMB 9.33 per share to RMB 9.31 per share on August 2, 2023, due to the company's annual equity distribution [2][3]. - Further adjustments are scheduled, with the conversion price expected to decrease to RMB 9.21 per share on June 28, 2024, and to RMB 9.06 per share on June 26, 2025, following subsequent equity distributions [3][4]. Group 3: Redemption Terms and Conditions - The redemption terms allow the company to redeem the bonds if the stock price exceeds 130% of the conversion price for at least 15 trading days within a 30-day period or if the remaining unconverted bonds are less than RMB 30 million [4][5]. - The company has confirmed that the conditions for early redemption have been met, as the stock price was above the required threshold during the specified periods [5][6]. Group 4: Decision on Early Redemption - The company's board of directors approved the early redemption of the "Huitong Convertible Bonds" on July 3, 2025, following the fulfillment of the redemption conditions [6][7]. - The company will issue a formal announcement detailing the redemption procedures, pricing, payment methods, and timelines [6]. Group 5: Sponsor's Opinion - The sponsor, CITIC Securities, has reviewed the early redemption decision and confirmed that it complies with relevant regulations and the company's bond issuance prospectus [6][7].