Kinwong(SH:603228) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-09-02 23:37Group 1 - The company issued convertible bonds named "Jing 23 Convertible Bonds" on April 4, 2023, with a total of 11.54 million bonds and a total fundraising amount of RMB 1.154 billion, with a maturity of 6 years [1] - The coupon rates for the "Jing 23 Convertible Bonds" are set at 0.30% for the first year, increasing to 2.00% by the sixth year [1] - The bonds were listed for trading on May 9, 2023, under the code "113669" [1] Group 2 - The initial conversion price for the "Jing 23 Convertible Bonds" is set at RMB 25.71 per share, with the latest conversion price adjusted to RMB 23.91 per share [2] - The conversion price has been adjusted multiple times due to annual profit distributions, with the most recent adjustment occurring on June 11, 2025, bringing the price down to RMB 23.91 per share [2] Group 3 - The company has conditional redemption clauses for the "Jing 23 Convertible Bonds," allowing redemption 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 RMB 30 million [3] - The company decided not to exercise the early redemption right on February 19, 2025, despite the stock price meeting the redemption criteria [5] - Future redemption rights will be reassessed after August 19, 2025, based on stock price performance [5][6]