BYE(SH:603861) Zheng Quan Zhi Xing·2025-08-15 16:35Core Viewpoint - The company announces the early redemption of its convertible bonds "Bai Dian Convertible Bonds" with specific dates and conditions for investors to take action before the bonds are delisted from the Shanghai Stock Exchange [1][2][3]. Redemption Details - Redemption registration date is set for August 28, 2025 [1]. - The redemption price is 101.5726 CNY per bond [1][4]. - Redemption funds will be distributed on August 29, 2025 [1][6]. - The last trading day for the bonds is August 25, 2025 [1][6]. - The last conversion date for the bonds is also August 28, 2025 [1][6]. Conditional Redemption Clause - The company has triggered the conditional redemption clause as the stock price has met the required threshold [2][4]. - The stock price must be at least 130% of the conversion price for 15 out of 30 consecutive trading days [3][4]. - If the unconverted bond balance falls below 30 million CNY, the company can also redeem the bonds [3]. Interest Calculation - The interest for the bonds is calculated based on the formula: IA = B × i × t / 365, where: - IA is the accrued interest, - B is the total face value of the bonds held, - i is the annual coupon rate (2.00%), - t is the number of days from the last interest payment to the redemption date [4][5]. Tax Implications - Individual investors are subject to a 20% tax on interest income, resulting in a net redemption amount of 101.2581 CNY per bond after tax [4][5]. Trading and Conversion - Investors have 6 trading days left until the last trading day and 9 trading days until the last conversion day [6][7]. - The company advises bondholders to convert or sell their bonds within the specified timeframe to avoid forced redemption [2][7]. Delisting Information - The "Bai Dian Convertible Bonds" will be delisted from the Shanghai Stock Exchange on August 29, 2025 [2][6].