Zheng Quan Zhi Xing·2025-08-24 16:18Group 1 - The company, Yantai Zhenghai Magnetic Material Co., Ltd., has decided to redeem its convertible bonds, known as "Zhenghai Convertible Bonds," ahead of schedule, following necessary legal procedures and board approval [5] - The total amount of the convertible bonds issued was 1,400,000 units, with a total value of 1,400 million yuan, and they were listed on the Shenzhen Stock Exchange on December 12, 2022 [1][2] - The conversion period for the bonds started on May 29, 2023, and will last until the maturity date on November 22, 2028, with an initial conversion price set at 12.63 yuan per share [2][3] Group 2 - The company has specific conditions under which it can redeem the bonds, including if the stock price remains above 130% of the conversion price for at least 15 out of 30 consecutive trading days or if the remaining balance of unconverted bonds falls below 30 million yuan [2][4] - The decision to redeem the bonds was made to reduce interest expenses and improve capital efficiency, as approved by the company's board of directors [4][5] - Prior to the redemption conditions being met, certain executives of the company engaged in trading the bonds, but no other significant shareholders or executives traded the bonds during the specified period [4]