Dayu Irrigation(SZ:300021) Zheng Quan Zhi Xing·2025-08-08 16:11Core 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 into shares within the specified period [1][2]. Summary by Sections Convertible Bond Basic Information - 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 bonds were listed on the Shenzhen Stock Exchange on August 20, 2020, under the name "Dayu Convertible Bonds" and code "123063" [2]. Conversion Period and Price Adjustments - The conversion period for the bonds started on February 3, 2021, and will end on July 27, 2026 [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]. - Further adjustments to the conversion price occurred, with the latest adjustment setting the price at 3.66 CNY per share as of June 24, 2025 [11]. Redemption Conditions - The company triggered the conditional redemption clause for the bonds, as the stock price met the criteria of being at least 130% of the conversion price (4.76 CNY) for 15 out of 30 consecutive trading days from July 4 to July 30, 2025 [1][12]. - The redemption price is calculated to include accrued interest, resulting in a total of 100.20 CNY per bond [13]. Redemption Process - The redemption will be executed for all bondholders registered with the China Securities Depository and Clearing Corporation by August 20, 2025 [13]. - Bondholders must apply for conversion through their securities company, with a minimum conversion unit of 1 bond [14].