HAILIANG(SZ:002203) Shang Hai Zheng Quan Bao·2025-09-08 19:01Core 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 [2][9]. 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% [1][13]. - The redemption conditions are met as of August 25, 2025, and the bonds will stop trading on September 24, 2025 [1][17]. - The redemption date is scheduled for September 29, 2025, with funds to be credited to investors' accounts by October 14, 2025 [1][18]. 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 [3][4]. - The bonds were listed for trading on the Shenzhen Stock Exchange starting December 16, 2019 [4]. Group 3: Conversion and 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 [5][7][8]. - The conversion period for the bonds runs from May 27, 2020, to November 21, 2025 [5]. Group 4: Redemption Conditions - The redemption was triggered as the stock price exceeded 130% of the conversion price for at least 15 trading days [8][10]. - The company has the right to redeem the bonds if the remaining balance is less than 30 million CNY [11]. Group 5: Additional Information - Investors are advised to consult their brokerage firms for the conversion process and to ensure that any pledged or frozen bonds are released before the conversion deadline [20]. - The company will publish announcements regarding the redemption process leading up to the redemption date [17].