Zheng Quan Zhi Xing·2025-09-02 11:25Core Viewpoint - The company has decided not to redeem the "He 21 Convertible Bonds" early, based on confidence in its future development and to protect investor interests [4][5]. Summary by Sections Convertible Bond Issuance Overview - The company issued 20.50 billion RMB worth of convertible bonds on November 17, 2021, with a maturity of 6 years and a tiered interest rate starting from 0.3% in the first year [1]. Convertible Bond Conversion Price Adjustment - The initial conversion price was set at 39.09 RMB per share, which has been adjusted multiple times, currently standing at 18.99 RMB per share [2][3]. Redemption Terms and Trigger Conditions - The company has the right to redeem the bonds if the stock price exceeds 130% of the conversion price for 15 out of 30 consecutive trading days or if the remaining unconverted bonds are less than 30 million RMB [4]. Decision Against Early Redemption - The board of directors decided not to exercise the early redemption option on September 2, 2025, and will not redeem the bonds even if the redemption conditions are met within the following three months [5]. Related Parties' Trading Situation - Major shareholders and executives have not traded the "He 21 Convertible Bonds" in the six months prior to the redemption conditions being met [5]. Sponsor's Verification Opinion - The sponsor confirmed that the decision not to redeem the bonds early was made following necessary procedures and complies with relevant regulations and the offering prospectus [5].