Orinko(SH:688219) Zheng Quan Zhi Xing·2025-07-21 16:15Summary of Key Points Core Viewpoint The announcement details the early redemption of the "Huitong Convertible Bonds" by Huitong New Materials Co., Ltd., including important dates and conditions for bondholders to take action before the bonds are redeemed and delisted. Redemption Details - Redemption registration date is set for July 24, 2025, with a redemption price of 100.633 CNY per bond [1][4] - The last trading day for the bonds will be July 21, 2025, and trading will cease from July 22, 2025 [1][6] - The last conversion date for the bonds is also July 24, 2025 [1][6] Conditions for Redemption - The redemption was triggered as the company's stock price was above 130% of the conversion price for 15 out of 30 consecutive trading days from June 13 to July 3, 2025 [2][4] - The company’s board approved the early redemption on July 3, 2025 [2] Interest Calculation - The current interest rate for the bonds is 1.00%, and the interest accrued from December 6, 2024, to July 25, 2025, is calculated to be 0.633 CNY per bond [5][4] - The total redemption price includes the face value plus accrued interest [5][4] Redemption Process - The company will notify bondholders of the redemption details before the redemption period ends [5] - On the redemption registration date, all registered bonds will be frozen, and the redemption amount will be distributed on July 25, 2025 [5][6] Tax Implications - Individual investors are subject to a 20% tax on interest income, which will be withheld by the payment agency [6][7] - For qualified foreign institutional investors, the redemption amount will be distributed without corporate income tax and value-added tax until December 31, 2025 [7] Trading and Conversion - Trading of the bonds will stop on July 22, 2025, and the bonds will be delisted from the Shanghai Stock Exchange on July 25, 2025 [6][1] - Bondholders are advised to convert or sell their bonds before the last trading day to avoid forced redemption [2][8]