ZHmag(SZ:300224) Zheng Quan Zhi Xing·2025-09-04 11:14Core Viewpoint - Yantai Zhenghai Magnetic Materials Co., Ltd. has decided to exercise the early redemption of its convertible bonds ("Zhenghai Convertible Bonds") due to the stock price meeting the conditions for redemption, aiming to reduce interest expenses and improve capital efficiency [2][4]. Group 1: Convertible Bond Details - The company issued 14 million convertible bonds at a face value of 100 yuan each, totaling 1.4 billion yuan, approved by the China Securities Regulatory Commission [2][3]. - The initial conversion price of the bonds was set at 13.23 yuan per share, which has been adjusted due to annual equity distribution plans [3][4]. - The bonds have a conditional redemption clause that allows the company to redeem them if the stock price exceeds 130% of the conversion price for at least 15 trading days within a 30-day period [4][6]. Group 2: Redemption Process - The redemption price is set at 100.50 yuan per bond, which includes accrued interest calculated based on a 0.60% annual interest rate [5][6]. - The redemption will be executed on September 19, 2025, with trading of the bonds ceasing on September 17, 2025 [5][6]. - All bondholders registered with China Securities Depository and Clearing Corporation by the redemption date will be eligible for the redemption [5][6]. Group 3: Shareholder Transactions - Company executives, including the Vice President and CFO, have engaged in trading the bonds prior to the redemption conditions being met, with specific details on their holdings provided [6].