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温州宏丰: 中德证券有限责任公司关于温州宏丰电工合金股份有限公司提前赎回“宏丰转债”的核查意见

Core Viewpoint - Wenzhou Hongfeng Electric Alloy Co., Ltd. plans to redeem its convertible bonds "Hongfeng Convertible Bonds" ahead of schedule, following the approval of its board of directors and in compliance with relevant regulations [9]. Group 1: Bond Issuance and Listing - The company issued 3.2126 million convertible bonds on March 15, 2022, with a total fundraising amount of RMB 321.26 million, netting RMB 315.0554 million after expenses [1]. - The bonds were listed on the Shenzhen Stock Exchange on April 8, 2022, under the name "Hongfeng Convertible Bonds" with the code "123141" [2]. Group 2: Conversion Terms - The conversion period for the bonds is from March 21, 2022, to March 14, 2028, with an initial conversion price set at RMB 6.92 per share [2]. - The conversion price has been adjusted multiple times due to profit distribution, with the latest adjustment bringing it down to RMB 5.35 per share effective from June 28, 2024 [5][6]. Group 3: Conditional Redemption - The bonds have a conditional redemption clause that allows the company to redeem them if the stock price exceeds 130% of the conversion price for at least 15 trading days within a 30-day period [6]. - The company has triggered this redemption condition, as the stock price has met the criteria from July 8 to July 31, 2025 [6][7]. Group 4: Redemption Details - The redemption price is set at RMB 100.92 per bond, which includes accrued interest calculated based on a 2.0% annual interest rate [7]. - The redemption process will be communicated to bondholders, with the redemption date set for September 5, 2025, and the bonds will be delisted from the exchange thereafter [8]. Group 5: Compliance and Approval - The board of directors approved the early redemption of the bonds during a meeting held on July 31, 2025, ensuring compliance with all necessary regulations and internal procedures [9].