Kinwong(SH:603228) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-09-23 09:15Summary of Key Points Core Viewpoint The company announces the redemption of its convertible bonds "Jing 23" due to the triggering of conditional redemption clauses, urging bondholders to take action before the final trading and conversion dates. Redemption Details - The last trading day for "Jing 23" convertible bonds is September 25, 2025, with only three trading days remaining as of September 22, 2025 [2][17] - The last conversion date is September 30, 2025, with six trading days remaining as of September 22, 2025 [3][17] - The redemption price is set at 100.515 CNY per bond, which includes accrued interest [11][12] - The redemption date is October 9, 2025, when the bonds will be delisted from the Shanghai Stock Exchange [18][16] Conditional Redemption Trigger - The company’s stock price has been above 130% of the conversion price (31.09 CNY) for fifteen trading days, triggering the conditional redemption clause [6][9] - The board decided to exercise the redemption right to reduce financial costs and optimize the company's capital structure [6][9] Investor Actions - Bondholders are advised to convert or sell their bonds within the specified time frame to avoid forced redemption [4][19] - The company emphasizes the importance of understanding the convertible bond regulations and the potential risks involved [5][19] Tax Implications - Individual investors are subject to a 20% tax on interest income from the bonds, affecting the net redemption amount [13] - Non-resident enterprises are exempt from corporate income tax on bond interest income until December 31, 2025 [14] Communication and Contact - The company will provide further announcements regarding the redemption process and its implications on the company [15] - Contact information for investor inquiries is provided [20]