CFT(SH:603685) Shang Hai Zheng Quan Bao·2025-11-11 20:31Core Viewpoint - Zhejiang Chenfeng Technology Co., Ltd. has announced the early redemption of its convertible bonds ("Chenfeng Convertible Bonds") due to the stock price meeting the redemption conditions, with the last trading day set for November 17, 2025, and the bonds to be delisted from the Shanghai Stock Exchange on November 21, 2025 [2][4][17]. Redemption Details - The last trading day for the "Chenfeng Convertible Bonds" is November 17, 2025, with only 4 trading days remaining as of November 11, 2025 [2][16]. - The last conversion date for the bonds is November 20, 2025, with 7 trading days left as of November 11, 2025 [3][16]. - The redemption price is set at 100.6164 CNY per bond, which includes accrued interest of 0.6164 CNY [4][10][13]. - The redemption registration date is November 20, 2025, and the redemption payment date is November 21, 2025 [6][15]. Conditions for Redemption - The redemption conditions were met as the stock price was above 130% of the conversion price (16.601 CNY) for 30 consecutive trading days from August 25, 2025, to October 13, 2025 [5][9]. - The company has the right to redeem all or part of the unconverted bonds if the stock price conditions are met or if the remaining unconverted bonds are less than 30 million CNY [7][9]. Investor Guidance - Investors are advised to convert or sell their bonds within the specified time frame to avoid forced redemption at the set price [21]. - The bonds will be frozen after the redemption registration date, and trading will cease, leading to forced redemption for unconverted bonds [20]. Tax Implications - Individual investors are subject to a 20% tax on interest income from the bonds, resulting in a net redemption amount of 100.4931 CNY per bond after tax [18]. - For qualified foreign institutional investors, the redemption amount will be 100.6164 CNY per bond, tax-exempt [19].