XZCE(SZ:002534) Zheng Quan Zhi Xing·2025-08-21 16:36Core Viewpoint - The company, Xizi Clean Energy Equipment Manufacturing Co., Ltd., is expected to trigger the conditional redemption clause of its convertible bonds, "Xizi Convertible Bonds," due to its stock price consistently exceeding 130% of the conversion price during a specified period [1][8]. Summary by Sections Convertible Bond Issuance - The company issued 11.10 billion RMB worth of convertible bonds on December 24, 2021, with a face value of 100 RMB per bond, totaling 11.10 million bonds [1][2]. Listing and Trading - The convertible bonds were listed on the Shenzhen Stock Exchange on January 24, 2022, under the name "Xizi Convertible Bonds" with the code "127052" [2]. Conversion Period and Price Adjustments - The conversion period for the bonds started on June 30, 2022, and will end on December 23, 2027 [2]. - The conversion price was adjusted from 28.08 RMB to 27.89 RMB on May 20, 2022, and further adjusted to 18.80 RMB on October 11, 2022 [2][3]. - The conversion price was subsequently adjusted to 18.70 RMB on June 15, 2023, and to 18.60 RMB on May 23, 2024 [3][4]. Conditional Redemption Clause - The company has a conditional redemption clause that allows it to redeem the bonds if the stock price exceeds 130% of the conversion price for at least 15 out of 30 trading days or if the total amount of unconverted bonds falls below 30 million RMB [6][8]. Current Stock Performance - From July 23, 2025, to August 20, 2025, the company's stock price has closed above 14.29 RMB (130% of the current conversion price of 10.99 RMB) for 9 trading days, indicating a potential trigger for the redemption clause [1][8]. Future Actions - The company will monitor the redemption conditions and will disclose any decisions regarding the exercise of the redemption right in a timely manner [7][8].