Recodeal(SH:688800) Shang Hai Zheng Quan Bao·2025-11-11 19:24Core Points - The company, Suzhou Ruikeda Connection System Co., Ltd., has approved a plan to issue convertible bonds to unspecified investors, with a total issuance amount of RMB 1 billion [3][63]. - The bonds will be convertible into A-shares and listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board [3][61]. - The bond issuance is authorized by the company's 2024 annual general meeting and does not require further shareholder approval [52][56]. Meeting Details - The fourth board meeting was held on November 11, 2025, with all seven directors present, including three via telecommunication [2][4]. - The meeting complied with the relevant laws and regulations of the People's Republic of China [2]. Bond Issuance Details - The bonds will have a face value of RMB 100 each, with a total of 10 million bonds to be issued [5][65]. - The bond term is set for six years, from November 14, 2025, to November 13, 2031 [10][67]. - The coupon rates are structured to increase over the years, starting at 0.20% in the first year and reaching 2.00% by the sixth year [11][70]. Conversion and Redemption Terms - The conversion period for the bonds will begin six months after issuance and last until maturity [19][78]. - The initial conversion price is set at RMB 73.85 per share, with provisions for adjustments based on stock dividends and other corporate actions [20][81]. - The company has the right to redeem the bonds at 112% of the face value after maturity or under certain conditions during the conversion period [28][90]. Priority Subscription and Issuance Method - Original shareholders will have priority in subscribing to the bonds, with the subscription period starting on November 14, 2025 [40][45]. - The remaining bonds will be offered to the public through the Shanghai Stock Exchange after the priority subscription [42][47]. Credit Rating and Regulatory Compliance - The bonds have been rated AA- by Zhongzheng Pengyuan Credit Rating Co., Ltd., with a stable outlook [37]. - The company will open a special account for the proceeds from the bond issuance and sign a fund supervision agreement [54].