LMGF(SZ:002734) Zheng Quan Zhi Xing·2025-08-13 09:16Core Viewpoint - The company has decided not to exercise the early redemption rights for its convertible bonds, "Li Min Convertible Bonds," based on current market conditions and to protect investor interests [1][8]. Summary by Sections Convertible Bond Issuance Overview - The company issued a total of 980 million RMB in convertible bonds, with a face value of 100 RMB each, amounting to 9.8 million bonds, with a maturity of 6 years [1][2]. Listing and Conversion Details - The convertible bonds were listed on March 24, 2021, and the conversion period started on September 6, 2021, lasting until the maturity date on February 28, 2027 [2][3]. Conversion Price Adjustments - The conversion price has been adjusted multiple times due to profit distribution plans: - From 14.23 RMB to 13.98 RMB on June 2, 2021 [2] - From 13.98 RMB to 11.20 RMB on May 24, 2022 [3] - From 11.20 RMB to 10.95 RMB on June 16, 2023 [4] - From 10.75 RMB to 8.50 RMB on July 19, 2024 [5] - From 8.50 RMB to 8.35 RMB on October 18, 2024 [5] - From 8.35 RMB to 8.10 RMB on May 28, 2025 [6] Conditional Redemption Terms - The company has set conditional redemption terms, allowing for redemption if the stock price exceeds 130% of the conversion price for 15 out of 30 trading days or if the unconverted bond balance falls below 30 million RMB [6][7]. Current Redemption Status - As of July 24, 2025, the stock price has met the conditions for potential redemption, but the company has opted not to redeem the bonds early [8]. Board Decision and Future Considerations - The board has resolved not to exercise the early redemption rights for the next three months, even if the redemption conditions are met again [8][9]. The board will reconvene to decide on any future redemption actions after November 13, 2025 [8]. Shareholder Transactions - Key executives and board members have shown confidence in the company by purchasing convertible bonds, with specific amounts disclosed [9][10]. There are currently no plans for these individuals to reduce their holdings in the bonds [10].