Shang Hai Zheng Quan Bao·2025-09-01 20:40Core Viewpoint - China Shipbuilding Industry Corporation Power Co., Ltd. (referred to as "the company" or "China Power") announced the interest payment details for its convertible bond "Dynamically Convertible Bond 02" (referred to as "the bond") issued on September 9, 2020, which will start paying interest on September 9, 2025 [2][3]. Bond Issuance Details - The bond was listed on March 9, 2021, with a conversion period from March 9, 2021, to September 8, 2026 [2]. - The initial conversion price was set at 20.23 CNY per share, with the latest conversion price adjusted to 19.69 CNY per share [2]. Interest Payment Plan - The interest payment for the bond will cover the fifth year, with the interest period from September 9, 2024, to September 8, 2025 [3]. - The annual coupon rate for this interest period is 1.8% (including tax), meaning each bond with a face value of 100 CNY will yield an interest payment of 1.8 CNY (including tax) [3]. Important Dates - The bond's interest payment registration date is September 8, 2025 [4][6]. - The ex-dividend date for the bond is September 9, 2025 [7]. - The interest payment date is also September 9, 2025 [7]. Bond Characteristics - The total issuance amount of the bond is 150 million CNY, with 15 million bonds issued at a face value of 100 CNY each [5]. - The bond has a maturity of 6 years, from September 9, 2020, to September 8, 2026, with varying interest rates for each year [5]. Taxation on Interest Income - For resident enterprises holding the convertible bonds, the interest income tax is self-paid, resulting in an actual distribution of 1.8 CNY per bond (including tax) [10]. - Non-resident enterprises, including qualified foreign institutional investors (QFII) and renminbi qualified foreign institutional investors (RQFII), are exempt from corporate income tax on the bond interest income until December 31, 2025 [10]. - Individual investors are subject to a personal income tax rate of 20% on the interest income, leading to a net payment of 1.44 CNY per bond after tax [11]. Related Institutions - The issuer of the bond is China Shipbuilding Industry Corporation Power Co., Ltd., with contact details provided for investor inquiries [12]. - The independent financial advisor for the bond is CITIC Securities Co., Ltd., also with contact information included [13].