Zheng Quan Zhi Xing·2025-07-23 16:14Core Viewpoint - The company announces the second notice regarding the conditional repurchase of its convertible bonds, "Changqi Convertible Bonds," due to the stock price falling below a certain threshold, allowing bondholders to sell their bonds back to the company at a specified price [1][2]. Summary by Sections Repurchase Terms and Price - The repurchase price is set at 100.20 RMB per bond, including accrued interest and tax [1][4]. - The repurchase period is from July 29, 2025, to August 4, 2025, with funds to be disbursed on August 7, 2025 [1][4]. - During the repurchase period, the "Changqi Convertible Bonds" will stop being convertible into shares [1][4]. - The repurchase is not mandatory, and bondholders who do not exercise their repurchase rights during the specified period will lose the right for the current interest year [1][2]. Conditions for Repurchase - The repurchase clause is activated when the company's A-share stock price is below 70% of the current conversion price for 30 consecutive trading days [2][3]. - The calculation for accrued interest is based on a formula that considers the bond's face value, interest rate, and the number of days in the interest period [3][4]. Repurchase Process - Bondholders can choose to sell back part or all of their unconverted bonds during the repurchase period [4][5]. - The repurchase must be executed through the Shanghai Stock Exchange trading system, and once confirmed, the repurchase request cannot be revoked [4][5]. - If the total face value of the convertible bonds in circulation falls below 30 million RMB due to the repurchase, trading will continue until the end of the repurchase period [5].