Xuerong Biotechnology(SZ:300511) Zheng Quan Zhi Xing·2025-09-03 11:17Core Viewpoint - The company, Shanghai Xuerong Biotechnology Co., Ltd., has announced the early redemption of its convertible bonds, "Xuerong Convertible Bonds," due to the triggering of conditional redemption clauses based on stock price performance [1][2]. Group 1: Convertible Bond Redemption Announcement - The company will redeem "Xuerong Convertible Bonds" at a price of 100.93 CNY per bond, and after the redemption, the bonds will be delisted from the Shenzhen Stock Exchange [1][2]. - Bondholders are advised to convert their bonds into shares before the redemption deadline to avoid potential losses due to forced redemption [1][2]. - The redemption was approved by the company's board on September 3, 2025, after the stock price met the required conditions [2][3]. Group 2: Convertible Bond Issuance and Terms - The company issued 5,850,000 convertible bonds on June 24, 2020, with a total fundraising amount of 585 million CNY [2][3]. - The bonds were listed on the Shenzhen Stock Exchange on July 24, 2020, under the code "123056" [3]. - The conversion period for the bonds is from January 4, 2021, to June 23, 2026 [3]. Group 3: Conditional Redemption Clauses - The conditional redemption clause allows the company to redeem the bonds if the stock price exceeds 120% of the conversion price for at least 15 trading days within a 30-day period [6][7]. - The redemption conditions were met between August 14, 2025, and September 3, 2025, triggering the redemption process [7][8]. Group 4: Redemption Price Calculation - The redemption price of 100.93 CNY per bond includes the principal and accrued interest calculated based on a 3% annual interest rate for 113 days [8][9]. - The accrued interest for each bond is calculated to be 0.93 CNY, leading to the total redemption price [8][9]. Group 5: Redemption Process and Timeline - The redemption will be executed on October 15, 2025, with funds transferred to bondholders' accounts by October 22, 2025 [9][10]. - The company will notify bondholders of the redemption details and the delisting of the bonds [9].