Zheshang Securities(SH:601878) Zheng Quan Zhi Xing·2025-08-29 17:47Group 1 - The core point of the article is the early redemption of the "Xizi Convertible Bonds" by Xizi Clean Energy Equipment Manufacturing Co., Ltd. The company has met the conditions for redemption as stipulated in the bond issuance documents [1][8] - The company issued 11.10 billion RMB worth of convertible bonds on December 24, 2021, with a maturity of six years [1][2] - The bond was listed on the Shenzhen Stock Exchange on January 24, 2022, under the name "Xizi Convertible Bonds" with the code "127052" [2] Group 2 - The conversion period for the "Xizi Convertible Bonds" is from June 30, 2022, to December 23, 2027 [2] - The conversion price has been adjusted multiple times, with the latest adjustment setting it at 11.00 RMB per share effective from a specified date in 2025 [3][4] - The company has established conditional redemption terms, which include scenarios where the stock price exceeds 130% of the conversion price for a specified number of trading days [4][5] Group 3 - The company has decided to exercise its right to redeem the bonds early, as the stock price conditions were met between July 23, 2025, and August 28, 2025 [5][6] - The redemption price is set at 101.12 RMB per bond, which includes accrued interest calculated based on the bond's face value and interest rate [6][7] - The redemption process will involve all registered bondholders as of the redemption registration date, with the redemption funds transferred to their accounts on a specified date [6][7] Group 4 - The company has confirmed that its actual controllers and major shareholders did not trade the bonds in the six months leading up to the redemption condition being met [7][8] - Bondholders wishing to convert their bonds must do so through their respective securities companies, and any fractional bonds will be settled in cash [8]