Dayu Irrigation(SZ:300021) Zheng Quan Zhi Xing·2025-08-07 10:14Core 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 market price and the redemption price, urging bondholders to convert their bonds into shares within the specified period [1][12][13]. Group 1: Convertible Bond Overview - The company issued 6.38 million convertible bonds on July 28, 2020, with a total value of 638 million CNY and a maturity of six 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 effective from August 13, 2024 [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 includes the face value of the bond plus accrued interest, calculated to be 100.20 CNY per bond [12][13]. Group 3: Redemption Process - Bondholders must apply for conversion through the securities company that holds their bonds, with a minimum conversion unit of one bond [14]. - The company will publish announcements regarding the redemption results and the delisting of the "Dayu Convertible Bonds" from the Shenzhen Stock Exchange [13][14].