Proya(SH:603605) Shang Hai Zheng Quan Bao·2025-12-01 19:58Core Points - The company will begin paying interest on its convertible bonds, "Pola Convertible Bonds," starting December 8, 2025, for the period from December 8, 2024, to December 7, 2025 [2][14] - The bond has a total issuance amount of RMB 751.713 million, with a maturity period of six years from December 8, 2021, to December 7, 2027 [4][12] Summary by Sections Bond Issuance Overview - The bond was issued on December 8, 2021, with a total issuance amount of RMB 751.713 million and a face value of RMB 100 per bond [4][12] - The bond has a fixed interest rate that increases over the years, starting from 0.30% in the first year to 2.00% in the sixth year [2][4] Interest Payment Details - The interest payment date is set for December 8, 2025, with a record date of December 5, 2025 [3][20] - The interest for the fourth year will be 1.50% (RMB 1.50 per bond) before tax, resulting in a net payment of RMB 1.20 after tax for individual investors [14][18] Conversion Terms - The conversion period for the bonds is from June 14, 2022, to December 7, 2027, with an initial conversion price of RMB 195.98 per share, adjusted to RMB 95.46 as of the latest update [6][12] - The conversion price has been adjusted multiple times due to various corporate actions, including equity distributions and stock incentive plans [6][7][10] Credit Rating - The company and the convertible bonds have been rated "AA" with a stable outlook by a credit rating agency [12][13] Tax Implications - Individual investors are subject to a 20% tax on interest income, while foreign institutional investors are exempt from corporate income tax on bond interest until December 31, 2025 [18][19]