BAMC(SH:601137) Zheng Quan Zhi Xing·2025-08-29 08:21Core Viewpoint - The company has decided not to exercise the early redemption rights for the "Bo 23 Convertible Bonds" despite triggering the conditional redemption clause due to stock prices exceeding the specified threshold [1][3][4]. Group 1: Convertible Bond Issuance Overview - The company issued 17 million convertible bonds with a total value of 1.7 billion yuan, approved by the China Securities Regulatory Commission on December 22, 2023 [1][2]. - The bonds are set to be traded on the Shanghai Stock Exchange starting January 18, 2024, with a maturity period of five years and an interest rate of 1.8% [2]. Group 2: Redemption Terms and Trigger Conditions - 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 [2][3]. - From August 11 to August 29, 2025, the stock price was above 19.08 yuan (130% of the conversion price of 14.68 yuan), triggering the redemption clause [1][3]. Group 3: Decision on Early Redemption - The company's board of directors convened on August 29, 2025, and resolved not to exercise the early redemption rights for the "Bo 23 Convertible Bonds" [3][4]. - The board will reassess the situation if the redemption conditions are met again after November 29, 2025 [4]. Group 4: Shareholder Activity - No trading of the "Bo 23 Convertible Bonds" occurred by major shareholders, including the actual controller and board members, in the six months leading up to the redemption condition [4]. Group 5: Sponsor's Verification Opinion - The sponsor confirmed that the decision not to redeem the bonds was approved by the board and complied with relevant regulations and the terms outlined in the offering prospectus [4].