HAILIANG(SZ:002203) Shang Hai Zheng Quan Bao·2025-09-03 22:45Core Viewpoint - Zhejiang Hailiang Co., Ltd. has announced the early redemption of its convertible bonds, "Hailiang Convertible Bonds," due to the fulfillment of redemption conditions based on the company's stock performance [4][10]. Group 1: Redemption Details - The redemption price for "Hailiang Convertible Bonds" is set at 101.710 CNY per bond, including accrued interest at an annual rate of 2.00% [2][14]. - The conditions for redemption are met as the stock price has been above 130% of the conversion price for 15 trading days [10][11]. - The redemption will occur on September 29, 2025, with the last trading day being September 24, 2025 [3][20]. Group 2: Bond Issuance and Trading - The company issued 31.50 billion CNY worth of convertible bonds on November 21, 2019, with a maturity of six years [4][5]. - The bonds were listed for trading on the Shenzhen Stock Exchange starting December 16, 2019 [5]. Group 3: Conversion Price Adjustments - The initial conversion price was set at 9.83 CNY per share, which has been adjusted multiple times due to annual profit distributions, with the latest adjustment bringing it to 9.20 CNY per share as of July 4, 2025 [6][9][10]. Group 4: Redemption Process - The redemption process includes a series of key dates: the redemption registration date is September 26, 2025, and the funds will be credited to bondholders' accounts by October 14, 2025 [19][20]. - Bondholders are advised to convert their bonds before the stop conversion date on September 29, 2025, to avoid forced redemption [3][23].