Xinjiang Communications Construction (SZ:002941) Shang Hai Zheng Quan Bao·2025-09-03 21:28Core Viewpoint - The company, Xinjiang Transportation Construction Group Co., Ltd., has announced the early redemption of its convertible bonds, "Jiaojian Convertible Bonds," due to the stock price meeting the conditions for conditional redemption. Group 1: Redemption Details - The redemption price for "Jiaojian Convertible Bonds" is set at 100.044 CNY per bond, including accrued interest at an annual rate of 2.00% [1][14][15] - The redemption conditions were met as the company's stock price closed above 130% of the conversion price for fifteen consecutive trading days [10][12] - The redemption date is scheduled for September 23, 2025, with the last trading day on September 18, 2025 [2][20] Group 2: Bond Issuance and Terms - The company issued 8.5 million convertible bonds with a face value of 100 CNY each, totaling 850 million CNY, approved by the China Securities Regulatory Commission [3][29] - The initial conversion price was set at 18.57 CNY per share, which has been adjusted multiple times, with the current conversion price at 10.00 CNY per share [5][33] - The bond's conversion period is from March 22, 2021, to September 14, 2026 [5][31] Group 3: Conversion and Share Dilution - As of September 2, 2025, a total of 65,357,062 shares have been converted, representing 10.13% of the company's total shares before the bond's conversion [28][36] - There are still 1,956,623 bonds unconverted, accounting for 23.02% of the total issued bonds [28][36] - The controlling shareholder's stake has been diluted due to the conversion of bonds, but this will not affect the company's governance structure [39][40]