Xuerong Biotechnology(SZ:300511) Zheng Quan Zhi Xing·2025-09-05 16:13Core Viewpoint - The company, Shanghai Xuerong Biological Technology 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]. - The redemption was triggered as the company's stock price closed at or above 120% of the bond's conversion price for at least 15 trading days within a 30-day period [2][7]. - The board of directors approved the early redemption at a meeting held on September 3, 2025, and authorized management to handle the related matters [2][8]. Group 2: Convertible Bond Details - 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 started on January 4, 2021, and will end on June 23, 2026 [3]. Group 3: Conversion Price Adjustments - The conversion price has undergone several adjustments, with the latest adjustment setting it at 4.10 CNY per share effective from August 26, 2024 [6][7]. - The bond's conversion price was previously adjusted from 11.09 CNY to 11.15 CNY on July 21, 2023, and further down to 11.03 CNY on March 21, 2022 [5][6]. Group 4: Redemption Process - The redemption will be executed for all bondholders registered with the China Securities Depository and Clearing Corporation as of October 14, 2025 [8][9]. - The redemption amount will be credited to the bondholders' accounts on October 22, 2025 [9]. - The company will publish the redemption results and delisting announcement in the media [9].