Xinquan Automotive Trim(SH:603179) Shang Hai Zheng Quan Bao·2025-10-14 20:00Core Viewpoint - The company, Jiangsu Xinquan Automotive Trim Co., Ltd., has announced the early redemption and delisting of its convertible bond "New 23 Convertible Bond" (新23转债) due to the fulfillment of redemption conditions as specified in the bond's offering document [1][4]. Group 1: Redemption Details - The last trading day for the "New 23 Convertible Bond" is October 24, 2025, with only 8 trading days remaining as of October 14, 2025 [2][13]. - The last conversion date for the bond is October 29, 2025, with 11 trading days left as of October 14, 2025 [3][13]. - The redemption price is set at 100.2192 yuan per bond, which includes the face value and accrued interest [4][8]. Group 2: Conditions and Procedures - The redemption was triggered as the company's stock price was above 130% of the conversion price (65.98 yuan) for 15 trading days from September 8 to September 29, 2025 [5][7]. - The redemption registration date is October 29, 2025, and the redemption payment date is October 30, 2025 [4][12]. - Investors must either convert their bonds at the conversion price of 50.75 yuan per share or sell them in the secondary market before the last trading day to avoid forced redemption [4][15]. Group 3: Tax Implications - Individual investors are subject to a 20% personal income tax on the interest income from the bonds, resulting in a net redemption amount of 100.1754 yuan per bond after tax [9]. - Qualified foreign institutional investors will receive the gross redemption amount of 100.2192 yuan per bond, as they are exempt from certain taxes until December 31, 2025 [9]. Group 4: Post-Redemption Actions - After the redemption process, the "New 23 Convertible Bond" will be delisted from the Shanghai Stock Exchange starting October 30, 2025 [4][13]. - The company will announce the results of the redemption and its impact on the company through designated media after the redemption is completed [11].