Zheng Quan Zhi Xing·2025-08-25 17:05Summary of Key Points Core Viewpoint - Zhejiang Hailiang Co., Ltd. has decided to exercise the early redemption of its convertible bonds, "Hailiang Convertible Bonds," based on the conditions outlined in the bond issuance documents and relevant regulations [1][7]. Group 1: Convertible Bond Basic Information - The company issued 31.50 billion yuan worth of convertible bonds on November 21, 2019, with a maturity of six years [1]. - The initial conversion price was set at 9.83 yuan per share, which has been adjusted multiple times, currently standing at 9.54 yuan per share as of July 5, 2023 [2]. Group 2: Conditions for Early Redemption - The early redemption condition was triggered as the stock price closed at or above 130% of the current conversion price (11.96 yuan per share) for 15 trading days [3]. - The board of directors has approved the early redemption of all unconverted bonds at a price of 101.710 yuan per bond, which includes accrued interest [4]. Group 3: Redemption Process - The redemption date is set for September 29, 2025, with the redemption price calculated based on the bond's face value plus accrued interest [5]. - All bondholders registered with the China Securities Depository and Clearing Corporation will be eligible for redemption [5]. Group 4: Compliance and Approval - The board of directors held a meeting on August 25, 2025, to approve the early redemption, ensuring compliance with relevant laws and regulations [7]. - The sponsoring institution has confirmed that the redemption process adheres to the necessary legal frameworks and the terms outlined in the bond issuance documents [7].