Dayu Irrigation(SZ:300021) Zheng Quan Zhi Xing·2025-08-01 16:36Core Viewpoint - The company has announced the mandatory redemption of its convertible bonds, "Dayu Convertible Bonds," at a price of 100.20 CNY per bond, highlighting the significant difference between the secondary market price and the redemption price, urging bondholders to convert their bonds within the specified period [1][2][12]. Group 1: Convertible Bond Details - The company issued 6.38 million convertible bonds on July 28, 2020, with a face value of 100 CNY each, totaling 638 million CNY, and a maturity period of 6 years [2]. - The initial conversion price was set at 4.94 CNY per share, which was adjusted to 4.84 CNY per share on May 27, 2021, due to the company's profit distribution plan [3][4]. - The conversion price has undergone several adjustments, with the latest being 3.71 CNY per share as of August 13, 2024, following the repurchase of shares [10][11]. Group 2: Redemption Conditions - The redemption condition was triggered as the company's stock price was at least 130% of the conversion price (4.76 CNY) for at least 15 out of 30 consecutive trading days from July 4 to July 30, 2025 [1][12]. - The redemption price is calculated as the face value plus accrued interest, resulting in a total of 100.20 CNY per bond, which includes a 0.20 CNY interest for the period [12][13]. Group 3: Redemption Process - The redemption will be executed for all bondholders registered with the China Securities Depository and Clearing Corporation by the close of trading on August 20, 2025 [13][14]. - Bondholders must apply for conversion through their securities company, with a minimum conversion unit of 1 bond, and any fractional shares will be compensated in cash [14].