Kinwong(SH:603228) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-10-01 05:19Core Viewpoint - The company has announced the early redemption of its convertible bond "Jing 23 Convertible Bond" due to the stock price meeting the conditional redemption criteria, with significant implications for investors regarding conversion and redemption options [2][4][7]. Redemption Terms - The "Jing 23 Convertible Bond" will stop trading on September 26, 2025, with the last conversion date set for September 30, 2025 [2][15]. - The redemption price is set at 100.515 CNY per bond, which includes the face value and accrued interest [9][10]. - The accrued interest is calculated based on a 1.0% annual coupon rate over 188 days, resulting in 0.515 CNY per bond [9][10]. Conditional Redemption Trigger - The bond's conditional redemption was triggered as the stock price exceeded 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 redeem the bonds due to current market conditions and financial strategy [3][4]. Redemption Process - The redemption registration date is September 30, 2025, with the redemption payment date scheduled for October 9, 2025 [4][14]. - All bonds registered by the redemption date will be frozen and redeemed at the specified price [13][14]. 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 [11][12]. - Non-resident enterprises are exempt from corporate income tax on the interest income from these bonds until December 31, 2025 [12]. Trading and Listing - The bonds will be delisted from the Shanghai Stock Exchange on October 9, 2025, following the completion of the redemption process [16].