Zhuzhou Kibing (SH:601636) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-11-27 02:36Core Points - The company has announced the early redemption of its convertible bonds, "Qibin Convertible Bonds," with a redemption price of 101.1737 CNY per bond, effective from December 3, 2025 [1][2][6] - The last trading day for the bonds is November 27, 2025, and the last conversion day is December 2, 2025 [1][12] - The early redemption was triggered as the stock price met the condition of being at least 130% of the conversion price for 15 out of 30 consecutive trading days [3][4] Redemption Details - Redemption registration date is December 2, 2025, and the redemption payment date is December 3, 2025 [1][11] - Investors can either trade the bonds in the secondary market or convert them at a price of 5.43 CNY per share before the last trading day [2][3] - The company will freeze all unconverted bonds after the redemption registration date [9][14] Financial Calculations - The accrued interest for the bonds is calculated using the formula: IA = B × i × t ÷ 365, where B is the total face value, i is the annual coupon rate of 1.8%, and t is the number of days from the last interest payment to the redemption date [6][5] - The total accrued interest amounts to 1.1737 CNY per bond, leading to a total redemption price of 101.1737 CNY [6][5] Tax Implications - Individual investors are subject to a 20% tax on the interest income, resulting in a net redemption amount of 100.9390 CNY per bond after tax [6][7] - For qualified foreign institutional investors, the company will distribute the gross redemption amount of 101.1737 CNY per bond [8][7] Trading and Listing - The "Qibin Convertible Bonds" will be delisted from the Shanghai Stock Exchange on December 3, 2025 [13][10] - Investors are advised to convert or sell their bonds within the specified time frame to avoid forced redemption [15][14]