Zhuzhou Kibing (SH:601636) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-11-06 03:35Core Viewpoint - Zhuzhou Qibin Group Co., Ltd. has decided to exercise the early redemption of its convertible bonds ("Qibin Convertible Bonds") due to the stock price meeting the necessary conditions for redemption, aiming to optimize its capital structure and reduce financial costs [2][6][17]. Group 1: Board Meeting and Decisions - The sixth board meeting of Zhuzhou Qibin Group was held on November 5, 2025, with all nine directors present, and the meeting was conducted in accordance with legal and regulatory requirements [1]. - The board unanimously approved the proposal for the early redemption of "Qibin Convertible Bonds" with a voting result of 9 votes in favor, 0 against, and 0 abstentions [2]. Group 2: Redemption Conditions and Details - From September 30, 2025, to November 5, 2025, the stock price of the company met the condition of being at least 130% of the current conversion price (5.43 CNY/share), triggering the redemption clause of the convertible bonds [3][16]. - The company will redeem all registered "Qibin Convertible Bonds" at face value plus accrued interest, as authorized by the board to ensure the smooth execution of the redemption process [17]. Group 3: Convertible Bond Issuance and Terms - The "Qibin Convertible Bonds" were issued on April 9, 2021, with a total of 15 million bonds at a face value of 100 CNY each, amounting to a total issuance of 1.5 billion CNY, with a maturity of 6 years and a tiered interest rate structure [7][8]. - The conversion price has been adjusted multiple times, with the latest adjustment setting it at 5.43 CNY/share, effective from July 8, 2025 [9][12]. Group 4: Compliance and Verification - The early redemption decision has been verified by the sponsor, Yongxing Securities, confirming that the necessary approval procedures were followed and that the decision complies with relevant regulations and the terms outlined in the offering prospectus [18].