DAYUAN PUMP(SH:603757) Zheng Quan Zhi Xing·2025-09-02 16:15Core Viewpoint - The company, Zhejiang Dayuan Pump Industry Co., Ltd., has announced the early redemption of its convertible bonds ("Dayuan Convertible Bonds") due to the stock price meeting the redemption conditions, with the bonds set to be delisted from the Shanghai Stock Exchange on September 17, 2025 [1][2][4]. Redemption Details - Redemption Registration Date: September 16, 2025 [1][2] - Redemption Price: 100.7836 CNY per bond [1][4] - Redemption Payment Date: September 17, 2025 [1][6] - Last Trading Day: September 11, 2025 [1][7] - Last Conversion Day: September 16, 2025 [1][7] Conditions for Redemption - The redemption condition was met as the company's stock price was above 130% of the conversion price for 15 consecutive trading days from August 4 to August 22, 2025 [2][4]. - The company has the right to redeem all or part of the unconverted bonds if the total amount of unconverted bonds is less than 30 million CNY [3][4]. Interest Calculation - The accrued interest for the bonds is calculated using the formula: IA = B × i × t ÷ 365, where IA is the accrued interest, B is the total face value of the bonds held, i is the annual coupon rate, and t is the number of days from the last interest payment to the redemption date [4][5]. - The accrued interest per bond is 0.7836 CNY, leading to a total redemption price of 100.7836 CNY per bond [4][5]. Tax Implications - Individual investors are subject to a 20% tax on the interest income, resulting in a net redemption amount of 100.6269 CNY per bond after tax [4][5]. - Non-resident enterprises are exempt from corporate income tax on the interest income from these bonds [5]. Trading and Conversion - Investors have until September 11, 2025, to trade the bonds and until September 16, 2025, to convert them into shares [7][8]. - After the redemption registration date, unconverted bonds will be frozen and will be redeemed at the specified price [8]. Delisting Information - The "Dayuan Convertible Bonds" will be delisted from the Shanghai Stock Exchange effective September 17, 2025 [2][6].