PRCO(SZ:002225) Shang Hai Zheng Quan Bao·2025-07-31 19:25Core Viewpoint - Puyang Pona High-Temperature Materials (Group) Co., Ltd. has announced the early redemption of its convertible bonds, "Pona Convertible Bonds," due to the fulfillment of specific conditions related to the company's stock performance and the remaining balance of the bonds [3][21]. Summary by Sections 1. Redemption Announcement - The company will redeem "Pona Convertible Bonds" at a price of 100.906 yuan per bond, including accrued interest at an annual rate of 3.80% [2][11]. - The redemption will occur on August 21, 2025, with the last trading day being August 18, 2025 [3][18]. 2. Convertible Bond Details - The company issued 6,263,903 convertible bonds with a total value of 626.39 million yuan, with an initial conversion price of 4.43 yuan per share [4]. - The conversion price has been adjusted multiple times due to annual profit distribution, with the latest adjustment setting it at 4.20 yuan per share as of July 11, 2025 [5][6]. 3. Conditions for Redemption - The redemption conditions were triggered as the company's stock price was above 130% of the conversion price for at least 15 trading days within a 30-day period [10]. - The specific stock prices were calculated based on the adjusted conversion prices during the relevant period [10]. 4. Redemption Process - The redemption will be executed for all holders registered by the redemption registration date of August 20, 2025 [14]. - The funds from the redemption will be credited to the bondholders' accounts by August 28, 2025 [18]. 5. Corporate Governance - The board of directors approved the early redemption on July 28, 2025, and authorized management to handle the related matters [21][22]. - The company has complied with all regulatory requirements and internal governance procedures regarding this redemption [22].