Zheng Quan Zhi Xing·2025-07-21 16:30Core Viewpoint - The company, China Shipbuilding Industry Group Emergency Warning and Rescue Equipment Co., Ltd. (referred to as "China Emergency"), is proceeding with the early redemption of its convertible bonds, known as "Emergency Convertible Bonds," following the necessary approvals and compliance with relevant regulations [1][6][7]. Summary by Sections Convertible Bond Basic Information - The company issued 8,189,312 convertible bonds on April 10, 2020, with a total amount of 818.93 million yuan and a maturity of six years [1][2]. - The bonds were listed on the Shenzhen Stock Exchange on May 11, 2020, under the name "Emergency Convertible Bonds" with the code "123048" [2]. Convertible Bond Conversion Period - The conversion period for the bonds started from the issuance date and will last until April 9, 2026 [2]. Conversion Price Adjustment - The conversion price was adjusted from 8.90 yuan to 8.88 yuan on July 21, 2021, and further adjusted to 8.86 yuan on July 19, 2022, due to cash dividends distributed to shareholders [2]. - The conversion price was subsequently adjusted to 7.06 yuan, effective from May 16, 2024, based on the average trading prices prior to the annual shareholders' meeting [3]. Conditional Redemption Clause - The company has the right to redeem the bonds if the stock price meets certain conditions, specifically if the closing price is at least 130% of the conversion price for at least 15 trading days within a 30-day period [4][5]. Redemption Implementation Arrangements - The redemption price is set at 100.77 yuan per bond, which includes accrued interest calculated based on a 2.00% annual interest rate [4][5]. - The redemption will be executed for all bondholders registered by the close of trading on August 27, 2025, with funds transferred to their accounts by September 4, 2025 [5]. Early Redemption Review - The board of directors has approved the early redemption of the convertible bonds, and the management is authorized to handle all related matters [5][6]. Underwriter's Review Opinion - The underwriter, CITIC Securities, has confirmed that the early redemption process complies with relevant laws and regulations, and there are no objections to the company's decision [6][7].