Chipscreen(SH:688321) Zheng Quan Zhi Xing·2025-07-31 16:15Core Viewpoint - Shenzhen Microchip Biotech Co., Ltd. has decided not to exercise the early redemption rights for its convertible bonds, despite triggering the conditional redemption clause due to stock prices exceeding 130% of the conversion price for 15 trading days [1][3]. Group 1: Conditional Redemption Trigger - The company's stock price has met the condition for the conditional redemption of the convertible bonds, with a closing price not lower than 32.838 CNY per share for at least 15 out of 30 trading days [1][3]. - The company will not propose a conditional redemption plan for the next three months, even if the redemption conditions are triggered again [2][4]. Group 2: Convertible Bond Issuance Overview - The company issued convertible bonds totaling 500 million CNY, with a maturity of six years from July 5, 2022, to July 4, 2028 [2]. - The initial conversion price was set at 25.36 CNY per share, adjusted to 25.26 CNY per share as of June 4, 2024, due to share repurchase and cancellation [2][3]. Group 3: Redemption Terms and Procedures - The redemption terms state that the company can redeem the bonds at 115% of the face value if the stock price conditions are met or if the remaining bond balance is below 30 million CNY [3][4]. - The board of directors convened on July 31, 2025, to review and approve the decision not to redeem the bonds early, considering the company's sustainable development and market conditions [4][5]. Group 4: Stakeholder Trading Restrictions - Major stakeholders, including the actual controller and significant shareholders, have not traded the convertible bonds within the six months leading up to the redemption condition being met [5]. Group 5: Sponsor's Verification Opinion - The sponsor has confirmed that the decision not to redeem the convertible bonds has followed necessary decision-making procedures and complies with relevant regulations [5].