Zheng Quan Zhi Xing·2025-07-21 16:13Core Viewpoint - The announcement details the conditional redemption of the "Changqi Convertible Bonds" due to the stock price of Great Wall Motors falling below the conversion price for a specified period, allowing bondholders to sell their bonds back to the company at a predetermined price [2][4]. Summary by Sections Redemption Terms and Price - The redemption price is set at 100.20 RMB per bond, including accrued interest and tax [1][4]. - The redemption period is from July 29, 2025, to August 4, 2025, with funds to be disbursed on August 7, 2025 [1][5]. - Bondholders must exercise their redemption rights within the specified period; failure to do so will result in the loss of the right for the current interest year [1][2]. Conditions for Redemption - The conditional redemption clause is activated if the closing price of the company's A-shares is below 70% of the conversion price for any consecutive thirty trading days [2][3]. - The calculation of accrued interest for the redemption price is based on a 1.5% coupon rate for the current interest period, resulting in approximately 0.20 RMB per bond [4][5]. Trading and Redemption Process - During the redemption period, the "Changqi Convertible Bonds" will continue to trade but will not be convertible into shares [5]. - Bondholders can choose to redeem all or part of their bonds, and the redemption is not mandatory [5][6]. - The company will announce the results of the redemption and its impact on the company after the redemption period ends [5].