Kinwong(SH:603228) Zheng Quan Shi Bao·2025-09-25 18:31Core Points - The company has announced that the "Jing 23 Convertible Bond" will stop trading on September 26, 2025, with the last conversion date being September 30, 2025 [1][14] - The bond will be forcibly redeemed at a price of 100.515 CNY per bond if not converted by the deadline, which may lead to significant investment losses for holders [1][16] Redemption Details - The redemption date is set for September 30, 2025, with the redemption price being 100.515 CNY per bond, which includes accrued interest [4][9] - The accrued interest is calculated based on a formula involving the bond's face value, interest rate, and the number of days since the last interest payment [6][9] - The redemption payment will be issued on October 9, 2025, through the Shanghai Clearing House [13] Conditional Redemption Trigger - The conditional redemption clause was triggered as the company's stock price was above 130% of the conversion price for 15 trading days from August 20 to September 9, 2025 [4][7] - The company’s board decided not to exercise the early redemption right previously but has now opted to do so based on current market conditions and financial strategy [3][4] Trading and Conversion - Trading of the "Jing 23 Convertible Bond" will cease on September 26, 2025, with only three trading days left until the final conversion date [1][14] - Investors are urged to convert their bonds within the specified timeframe to avoid forced redemption [2][15] Tax Implications - Individual investors will be subject to a 20% tax on the interest income from the bonds, affecting the net amount received upon redemption [10][11]