Hongfa(SH:600885) Shang Hai Zheng Quan Bao·2025-11-28 20:13Core Viewpoint - The announcement details the early redemption and delisting of "Hongfa Convertible Bonds" by Hongfa Technology Co., Ltd, highlighting the conditions and timeline for bondholders to act before the bonds are forcibly redeemed [1][4][14]. Redemption Details - The redemption registration date is set for December 11, 2025, with the last trading day for the bonds on December 8, 2025 [2][6]. - The last conversion date for the bonds is also December 11, 2025 [3][6]. - The redemption price is established at 100.2219 CNY per bond, which includes accrued interest of 0.2219 CNY [10][12]. Conditions for Early Redemption - The early redemption was triggered as the company's stock price exceeded 130% of the conversion price (22.72 CNY) for at least 15 trading days from October 31, 2025, to November 20, 2025 [5][8]. - The company’s board approved the early redemption on November 20, 2025, based on the conditions outlined in the bond issuance prospectus [5][8]. Redemption Process - The company will issue a notice regarding the redemption process before the end of the redemption period [11]. - All bonds registered with the China Securities Depository and Clearing Corporation will be frozen after the redemption registration date [11][18]. - The redemption funds will be distributed on December 12, 2025, through the designated trading institutions [12][18]. Tax Implications - Individual investors are subject to a 20% tax on interest income from the bonds, resulting in a net redemption amount of 100.1775 CNY per bond after tax [15][16]. - For qualified foreign institutional investors, the bonds will be redeemed at the gross amount of 100.2219 CNY per bond [16].