Core Viewpoint - The company, Jiangxi Zhite New Materials Co., Ltd., has triggered the conditional redemption of its convertible bonds ("Zhite Convertible Bonds") due to the stock price meeting specific criteria, leading to the decision to exercise the redemption rights [2][9]. Group 1: Convertible Bond Redemption - The company announced the early redemption of "Zhite Convertible Bonds" after its stock price met the conditions set forth in the offering prospectus, specifically that the closing price was not less than the conversion price for at least 15 out of 30 consecutive trading days [2][6]. - The redemption price for the bonds is set at 100.36 CNY per bond, which includes accrued interest calculated based on the bond's face value and interest rate [8][7]. - The redemption will be executed on August 8, 2025, with the bonds being delisted from the Shenzhen Stock Exchange following the completion of the redemption process [8][9]. Group 2: Convertible Bond Issuance and Terms - The company issued convertible bonds totaling 614.033 million CNY on March 31, 2023, with a conversion period from April 7, 2023, to March 30, 2029 [2][3]. - The initial conversion price was set at 41.08 CNY per share, which has been adjusted to 8.86 CNY per share as of the announcement date [3][5]. - The bonds have a conditional redemption clause that allows the company to redeem them if the stock price remains above 130% of the conversion price for a specified period or if the unconverted balance falls below 30 million CNY [6][7]. Group 3: Shareholder Transactions and Compliance - The company confirmed that there were no transactions involving "Zhite Convertible Bonds" by major shareholders or executives in the six months leading up to the redemption condition being met [8][9]. - The company has complied with all necessary regulatory requirements and internal decision-making processes regarding the early redemption of the bonds [9][10].
志特新材: 关于提前赎回“志特转债”的公告