Qingdao Gaoce(SH:688556) Zheng Quan Zhi Xing·2025-08-08 16:11Core Viewpoint - Qingdao Gaoce Technology Co., Ltd. may trigger the conditional redemption clause of its convertible bonds if its stock price remains above 130% of the current conversion price for a specified period [1][6]. Convertible Bond Issuance Overview - The company issued 4.833 million convertible bonds at a face value of 100 yuan each, totaling 483.3 million yuan, with a maturity of six years from July 18, 2022, to July 17, 2028 [2]. - The bonds began trading on the Shanghai Stock Exchange on August 12, 2022, under the name "Gaoce Convertible Bonds" and code "118014" [2]. Conversion Price Adjustments - The conversion price has been adjusted multiple times due to various corporate actions: - Adjusted to 60.33 yuan on May 12, 2023 [3] - Adjusted to 60.03 yuan on June 7, 2023 [3] - Adjusted to 59.51 yuan on June 29, 2023 [3] - Adjusted to 58.51 yuan on November 27, 2023 [4] - Adjusted to 36.29 yuan on May 8, 2024 [4] - Adjusted to 36.04 yuan on June 19, 2024 [4] - Adjusted to 35.66 yuan on October 11, 2024 [5] - Adjusted to 10.50 yuan on June 11, 2025 [5] Redemption Clause and Expected Trigger Conditions - The company has the right to redeem the convertible bonds if the stock price remains above 130% of the conversion price for 30 trading days, with at least 15 days meeting this condition [6][7]. - From July 28 to August 8, 2025, if the stock price remains above 9.58 yuan for 10 consecutive trading days, it may trigger the redemption clause [6][8].