Core Viewpoint - The company has decided not to exercise the early redemption rights for its convertible bonds, "Wankai Convertible Bonds," despite triggering the conditional redemption clause due to stock price performance [2][3][6]. Group 1: Convertible Bond Issuance and Terms - The company issued 27,000,000 convertible bonds with a total amount of RMB 270 million, netting RMB 258.74 million after deducting issuance costs [2][3]. - The initial conversion price was set at RMB 11.45 per share, which was later adjusted to RMB 11.30 per share [3][4]. - The conversion period for the bonds is from February 24, 2025, to August 15, 2030 [3]. Group 2: Conditional Redemption Clause - The conditional redemption clause allows the company to redeem the bonds if the stock price remains above 130% of the conversion price for at least 15 trading days within a 30-day period [3][5]. - The stock price from July 29, 2025, to August 21, 2025, met the condition, triggering the redemption clause [2][6]. Group 3: Decision on Redemption - The board of directors decided not to redeem the bonds early, considering the short conversion period and current market conditions, aiming to protect the interests of bondholders [2][6]. - The company will not exercise the redemption rights for the next six months, even if the redemption conditions are met again [2][6]. Group 4: Trading Activity of Related Parties - The company disclosed trading activities of major shareholders and executives in the bonds, indicating a total of 5,200,000 bonds held at the beginning, with 2,740,000 bought and 2,460,000 sold during the period [6]. - No plans for future reductions in holdings of the convertible bonds were reported by major shareholders or executives [6]. Group 5: Compliance and Verification - The underwriting institution confirmed that the decision not to redeem the bonds early complied with relevant regulations and internal procedures [7][9].
万凯新材: 关于不提前赎回万凯转债的公告