HAILIANG(SZ:002203) Shang Hai Zheng Quan Bao·2025-09-09 21:06Core Points - Zhejiang Hailiang Co., Ltd. has announced the early redemption of its convertible bonds, "Hailiang Convertible Bonds," with a redemption price of 101.710 CNY per bond, including accrued interest at an annual rate of 2.00% [1][2][13] - The redemption conditions will be met on August 25, 2025, with the bonds ceasing to trade on September 24, 2025, and the redemption date set for September 29, 2025 [1][2][17] - The company has triggered the conditional redemption clause due to the stock price being above 130% of the conversion price for 15 trading days [8][9][10] Convertible Bond Details - The company issued 31.50 billion CNY worth of convertible bonds on November 21, 2019, with a maturity of six years [3][4] - The initial conversion price was set at 9.83 CNY per share, which has been adjusted multiple times due to annual profit distribution [5][6][7][8] - The current conversion price is 9.20 CNY per share as of July 4, 2025 [8] Redemption Implementation - The redemption price is calculated based on the bond's face value plus accrued interest, with the accrued interest for each bond being approximately 1.710 CNY [13][14] - The redemption process includes a series of announcements leading up to the redemption date, with the final trading day for the bonds being September 24, 2025 [17][18] - The funds from the redemption will be credited to bondholders' accounts by October 14, 2025 [18] Other Considerations - Bondholders are advised to convert their bonds before the conversion ceases on September 29, 2025, to avoid forced redemption [1][21] - The company has confirmed that there have been no transactions in the bonds by major shareholders or executives in the six months leading up to the redemption conditions being met [19]