Zheng Quan Zhi Xing·2025-07-07 16:06Core Points - The report discusses the management of the convertible bond issuance by Tibet Qizheng Tibetan Medicine Co., Ltd, detailing the bond's approval, issuance, and key terms [3][4][10] Group 1: Bond Issuance Overview - The China Securities Regulatory Commission approved the issuance of convertible bonds totaling RMB 800 million, with a face value of RMB 100 per bond, consisting of 8 million bonds [3][4] - The bonds are listed on the Shenzhen Stock Exchange under the name "Qizheng Convertible Bonds" with the code 128133, and the issuance date was October 27, 2020 [3][4] Group 2: Bond Terms and Conditions - The bond has a six-year term, from September 22, 2020, to September 21, 2026 [4] - The coupon rates are structured to increase annually, starting at 0.40% in the first year and reaching 1.80% in the sixth year [4][5] - Interest is paid annually, with the first payment occurring one year after the issuance date [5] Group 3: Conversion and Adjustment Mechanism - The initial conversion price is set at RMB 30.12 per share, subject to adjustments based on stock dividends, capital increases, and other corporate actions [6][7] - Following the 2024 annual profit distribution, the conversion price will be adjusted from RMB 19.39 to RMB 19.01 per share, effective from July 10, 2025 [9][10] Group 4: Impact Analysis - The adjustments to the conversion price comply with legal regulations and do not adversely affect the company's operational or debt repayment capabilities [10]