Core Viewpoint - The company has decided not to exercise the early redemption rights for its convertible bonds, "Zhongqi Convertible Bonds," despite triggering the redemption conditions due to the stock price exceeding 130% of the conversion price [1][2][7]. Group 1: Convertible Bond Issuance and Redemption - The company issued 5.4 million convertible bonds on March 3, 2023, with a total value of 540 million RMB and a maturity of six years [2][3]. - The initial conversion price was set at 30.27 RMB per share, which was adjusted to 30.17 RMB on June 16, 2023, and further adjusted to 30.02 RMB on June 7, 2024, and finally to 20.70 RMB on July 11, 2024, before being set to 14.76 RMB on May 29, 2025 [3][4][5]. - The redemption conditions were triggered as the stock price was above 19.188 RMB (130% of the conversion price) for at least 15 trading days from July 18 to August 7, 2025 [6][7]. Group 2: Board Decisions and Future Actions - The board of directors convened on August 7, 2025, and resolved not to exercise the early redemption rights, considering the current market conditions and the company's situation [2][7]. - The company will not exercise the early redemption rights for three months following the board's decision, from August 8 to November 7, 2025, even if the redemption conditions are met again [7]. - There have been no transactions in "Zhongqi Convertible Bonds" by major shareholders or executives in the six months prior to the redemption conditions being met, and there are no plans for future reductions in holdings [8]. Group 3: Compliance and Opinions - The underwriting institution, Minsheng Securities, confirmed that the decision not to redeem the bonds early was made following necessary procedures and complies with relevant regulations [9].
中旗新材: 关于不提前赎回中旗转债的公告