PRCO(SZ:002225) Shang Hai Zheng Quan Bao·2025-08-13 18:14Core Viewpoint - Puyang Pina High-Temperature Materials (Group) Co., Ltd. has announced the early redemption of its convertible bonds, "Pina Convertible Bonds," with specific trading and conversion deadlines set for August 2025 [1][2][3]. Summary by Sections Important Dates - The last trading day for "Pina Convertible Bonds" is August 15, 2025, after which trading will cease [1]. - The last conversion day is August 20, 2025, with conversion ceasing after market close on that date [2]. Redemption Details - The redemption price is set at 100.906 CNY per bond, including accrued interest at an annual rate of 3.80% [3]. - The redemption conditions were met on July 28, 2025, allowing the company to exercise its right for early redemption [4][11]. - The bonds will be fully redeemed on August 21, 2025, and will be delisted from the Shenzhen Stock Exchange thereafter [4][15]. Convertible Bond Issuance - The company issued 6,263,903 convertible bonds on May 26, 2021, with a total value of 626.39 million CNY [5]. - The initial conversion price was set at 4.43 CNY per share, which has been adjusted multiple times due to equity distributions [6][7]. Conversion Price Adjustments - The conversion price has been adjusted from 4.43 CNY to 4.20 CNY per share as of July 11, 2025, due to annual equity distributions [6][7]. Redemption Procedures - The company will announce redemption details daily leading up to the redemption date [15]. - The funds from the redemption will be credited to bondholders' accounts by August 28, 2025 [15]. Corporate Governance - The board of directors approved the early redemption on July 28, 2025, following necessary decision-making procedures [17][19].