Zhuzhou Kibing (SH:601636) Shang Hai Zheng Quan Bao·2025-12-01 19:13Summary of Key Points Core Viewpoint The company, Zhuzhou Qibin Group Co., Ltd., has announced that the total face value of its unconverted convertible bonds, "Qibin Convertible Bonds," has fallen below 30 million yuan, leading to a mandatory redemption process. Group 1: Convertible Bond Status - As of November 28, 2025, the amount of unconverted convertible bonds is 5,763,000 yuan, accounting for 0.3842% of the total issuance [2][9] - The unconverted "Qibin Convertible Bonds" will be frozen after the close of trading on the redemption registration date (December 2, 2025), ceasing trading and conversion, and will be forcibly redeemed at a price of 101.1737 yuan per bond [2][10] - The last trading day for "Qibin Convertible Bonds" was November 28, 2025, and they can still be converted until the redemption registration date [2][10] Group 2: Redemption Details - The redemption price for the bonds is set at 101.1737 yuan per bond, which includes the face value and accrued interest [2][10] - Investors are advised to convert their bonds before the close of trading on December 2, 2025, to avoid forced redemption [2][10] - The bonds will be delisted from the Shanghai Stock Exchange after the redemption is completed on December 3, 2025 [2][10] Group 3: Conversion and Share Capital Changes - The total amount of "Qibin Convertible Bonds" converted into company A-shares as of November 28, 2025, is 1,494,233,000 yuan, resulting in 275,009,589 shares, which is 10.2378% of the total shares before conversion [15][22] - The company's total share capital increased from 2,929,539,887 shares to 2,958,402,937 shares due to the conversion of bonds [24][25] Group 4: Future Considerations - The company will continue to monitor the situation and provide updates as necessary regarding the convertible bonds and any potential impacts on its operations [26][50]