EMT(SH:601208) Shang Hai Zheng Quan Bao·2025-08-18 19:16Core Viewpoint - The announcement details the early redemption and delisting of the "Dongcai Convertible Bonds" (东材转债), with specific dates and conditions outlined for bondholders to take action before the final trading and conversion dates [1][4][14]. Redemption Details - The last trading day for the "Dongcai Convertible Bonds" is September 2, 2025, with only 11 trading days remaining as of August 18, 2025 [2][13]. - The last conversion day is September 5, 2025, with 14 trading days left as of August 18, 2025 [3][13]. - The bonds will be redeemed at a price of 100.8055 CNY per bond, which includes accrued interest [4][8]. Conditions for Redemption - The conditional redemption was triggered as the company's stock price was above 130% of the conversion price for 15 trading days from July 18 to August 7, 2025 [5][7]. - The redemption will apply to all bondholders registered by the redemption registration date of September 5, 2025 [6][7]. Financial Implications - The accrued interest for the bonds is calculated to be 0.8055 CNY per bond, leading to a total redemption price of 100.8055 CNY [9][8]. - The company will issue a notice regarding the redemption results and its impact on the company after the redemption process is completed [11]. Tax Considerations - Individual investors are subject to a 20% tax on interest income, resulting in a net redemption amount of 100.6444 CNY per bond after tax [15]. - Non-resident investors may benefit from tax exemptions on interest income until December 31, 2025 [15]. Trading and Delisting - Following the redemption, the "Dongcai Convertible Bonds" will be delisted from the Shanghai Stock Exchange starting September 8, 2025 [14][10]. - Investors are advised to convert or sell their bonds before the final trading day to avoid forced redemption [16][17].