Wellhope(SH:603609) Shang Hai Zheng Quan Bao·2025-11-25 18:49Core Viewpoint - He Feng Food Co., Ltd. plans to change the source of conversion for its convertible bonds from "newly issued shares" to "priority use of repurchased shares for conversion, with any shortfall covered by newly issued shares" [2][6]. Group 1: Convertible Bond Issuance Overview - The company issued 15 million convertible bonds with a total value of 1.5 billion yuan, each with a face value of 100 yuan, approved by the China Securities Regulatory Commission on April 22, 2022 [3]. - The bonds have a term of 6 years, from April 22, 2022, to April 21, 2028, with a tiered interest rate starting at 0.3% in the first year and reaching 2.0% in the sixth year [3]. - The initial conversion price was set at 10.22 yuan per share, with the latest conversion price adjusted to 10.09 yuan per share [3]. Group 2: Conversion Status - As of September 30, 2025, a total of 33,133,000 yuan of "He Feng Convertible Bonds" has been converted into 3,229,417 shares, representing 0.35% of the company's total shares before conversion [4]. - The remaining amount of unconverted "He Feng Convertible Bonds" is 1,466,863,000 yuan, accounting for 97.79% of the total issuance [4]. Group 3: Share Buyback and Conversion Source Change - The company approved a share buyback plan on October 28, 2024, with a total buyback amount not exceeding 200 million yuan and a minimum of 100 million yuan, at a maximum price of 10.90 yuan per share [5]. - The buyback period is set to last for up to 12 months from the board's approval date [5]. - The effective date for using repurchased shares as the source for conversion will be November 26, 2025 [6].