WENZHOU HONGFENG(SZ:300283) Zheng Quan Zhi Xing·2025-08-10 08:15Core Viewpoint - Wenzhou Hongfeng Electric Alloy Co., Ltd. has triggered the conditional redemption clause for its convertible bonds due to the stock price exceeding 130% of the conversion price for a specified period, leading to a decision to redeem the bonds at a price of 100.92 yuan per bond [2][6][7]. Group 1: Convertible Bond Redemption - The company has decided to exercise its right to redeem the "Hongfeng Convertible Bonds" early, based on the current market conditions and to reduce interest expenses [2][6]. - The redemption price is set at 100.92 yuan per bond, which includes the principal and accrued interest [7][8]. - The redemption will take place on September 5, 2025, with the bonds being delisted from the Shenzhen Stock Exchange after the redemption [7][9]. Group 2: Bond Issuance and Terms - The "Hongfeng Convertible Bonds" were issued with a total fundraising amount of 321.26 million yuan, netting 315.06 million yuan after expenses [2]. - The initial conversion price was set at 6.92 yuan per share, which has been adjusted to 5.35 yuan per share due to various factors including profit distribution [3][5][6]. - The bonds were listed on the Shenzhen Stock Exchange on April 8, 2022, and the conversion period lasts until March 14, 2028 [3][4]. Group 3: Conditions for Redemption - The redemption clause is activated when the company's stock price remains above 130% of the conversion price for at least 15 trading days within a 30-day period [2][6]. - The stock price reached 6.96 yuan per share, meeting the criteria for the conditional redemption [2][6]. Group 4: Shareholder Information - The company has confirmed that major shareholders and executives did not trade the convertible bonds in the six months leading up to the redemption condition being met [8]. - Shareholders are advised to convert their bonds before the redemption date to avoid potential losses [2][6].