Zheng Quan Zhi Xing·2025-08-25 16:52Group 1 - The core viewpoint of the article is that Zhejiang Yonghe Refrigeration Co., Ltd. has decided to exercise its right to redeem the "Yonghe Convertible Bonds" early, following the approval of its board of directors [5] - The "Yonghe Convertible Bonds" were issued with a total amount of 800 million yuan, with a maturity period of six years from October 11, 2022, to October 10, 2028 [1][2] - The coupon rates for the "Yonghe Convertible Bonds" are structured to increase over the years, starting from 0.30% in the first year to 3.00% in the sixth year [1] Group 2 - The bonds were listed on the Shanghai Stock Exchange on November 1, 2022, under the code "111007" [2] - The initial conversion price was set at 33.64 yuan per share, which has been adjusted multiple times, with the latest adjustment bringing it to 19.68 yuan per share as of March 13, 2025 [2][3] - The conditional redemption clause allows the company to redeem the bonds if the stock price exceeds 130% of the conversion price for at least 15 trading days within a 30-day period, or if the remaining balance of the bonds is less than 30 million yuan [4] Group 3 - The company’s board of directors approved the early redemption of the bonds during a meeting held on August 25, 2025, and authorized management to handle all related matters [5] - During the six months prior to the redemption condition being met, the company's major shareholders and executives did not trade the convertible bonds, except for the controlling shareholder [6] - The sponsor, CITIC Securities, confirmed that the early redemption process complies with relevant regulations and the terms outlined in the offering document [5]