Chipscreen(SH:688321) Zheng Quan Zhi Xing·2025-07-31 16:15Summary of Key Points Core Viewpoint - The company has decided not to exercise the early redemption rights for its convertible bonds, "微芯转债," based on confidence in its sustainable development and intrinsic value, considering various factors including market conditions and investor expectations [4]. Group 1: Convertible Bond Issuance Overview - The company issued convertible bonds with a total amount of RMB 500 million, with a maturity period of six years from July 5, 2022, to July 4, 2028 [1]. - The initial conversion price for the bonds is set to be adjusted to RMB 25.26 per share starting from June 4, 2024 [2]. Group 2: Redemption Terms and Conditions - The redemption terms state that the company can redeem the bonds at 115% of the face value if the stock price exceeds 130% of the conversion price for at least 15 out of 30 consecutive trading days, or if the remaining balance of the bonds is less than RMB 30 million [2][3]. - The conditional redemption terms were triggered between July 11, 2025, and July 31, 2025, as the stock price met the required threshold [3]. Group 3: Decision-Making Process - The company's board of directors approved the decision not to redeem the bonds early during a meeting held on July 31, 2025, emphasizing the company's confidence in its future [4]. - The company will not propose a conditional redemption plan even if the redemption conditions are met again within three months following the decision [4]. Group 4: Stakeholder Trading Activity - There has been no trading of the convertible bonds by major stakeholders, including the actual controller, significant shareholders, and senior management, within six months prior to the redemption condition being met [4]. Group 5: Sponsor's Verification Opinion - The sponsor institution has verified that the decision not to redeem the bonds early has followed the necessary decision-making procedures and complies with relevant regulations and agreements [6].