Core Viewpoint - The company, Guangdong Zhongqi New Materials Co., Ltd., has announced that its convertible bond, "Zhongqi Convertible Bond," is expected to trigger redemption conditions due to the stock price exceeding 130% of the current conversion price for nine consecutive trading days [1][6]. Summary by Sections Convertible Bond Issuance and Listing - The company issued 5.4 million convertible bonds on March 3, 2023, with a total value of 540 million yuan and a maturity of six years [1][2]. - The bonds were listed on the Shenzhen Stock Exchange on April 25, 2023, under the name "Zhongqi Convertible Bond" and code "127081" [2]. Conversion Period and Price Adjustments - The conversion period for the bonds is from September 11, 2023, to March 2, 2029 [2]. - The initial conversion price was set at 30.27 yuan per share, which has been adjusted multiple times, with the latest adjustment bringing it down to 14.76 yuan per share effective from May 29, 2025 [3][5]. Conditional Redemption Terms - The company has outlined conditional redemption terms in its prospectus, allowing for redemption if the stock price remains above 130% of the conversion price for at least 15 out of 30 trading days or if the remaining unconverted bonds are less than 30 million yuan [6]. - The company has the authority to decide on the redemption of the bonds at face value plus accrued interest if the conditions are met [6]. Potential Trigger for Redemption - From July 18 to July 30, 2025, the company's stock price has been above 19.188 yuan (130% of the conversion price), indicating a potential trigger for the conditional redemption of the "Zhongqi Convertible Bond" [1][6].
中旗新材: 关于中旗转债预计触发赎回条件的提示性公告