CHERVON-AUTO(SH:603982) Zheng Quan Zhi Xing·2025-07-16 08:11Core Points - The report is prepared by China International Capital Corporation (CICC) as the trustee manager for the convertible bonds issued by Nanjing QuanFeng Automotive Precision Technology Co., Ltd. [2] - The company issued convertible bonds worth 620 million RMB with a maturity of 6 years, approved by the China Securities Regulatory Commission [2][3] - The bonds have a tiered interest rate structure, starting from 0.4% in the first year and increasing to 3.0% in the sixth year [3][4] Bond Details - The bonds are convertible into the company's A-share common stock, with an initial conversion price of 23.03 RMB per share, currently at 7.89 RMB per share [5] - The bonds were listed on the Shanghai Stock Exchange on October 21, 2021, under the name "QuanFeng Convertible Bonds" [3] - The bondholders will receive annual interest payments, with the first payment occurring after one year from the issuance date [4] Major Events - The company decided to exercise its right for early redemption of the convertible bonds, as approved in a board meeting on July 8, 2025 [6] - The company completed the registration of changes to its business license, reflecting an updated registered capital of 272.355339 million RMB [7] - CICC will continue to monitor the company's compliance with bond repayment obligations and other significant matters affecting bondholders' interests [8]