MJNY(SZ:000723) Shang Hai Zheng Quan Bao·2025-12-03 19:25Core Viewpoint - Shanxi Meijin Energy Co., Ltd. has announced the third reminder regarding the repurchase of its convertible bonds, "Meijin Convertible Bonds," due to the termination of certain fundraising investment projects and the decision to permanently supplement remaining funds into working capital [3][4][5]. Summary by Sections Repurchase Terms - The repurchase price is set at 100.986 CNY per bond (including interest and tax) [2][8]. - The repurchase application period is from December 1, 2025, to December 5, 2025 [2]. - The funds will be credited to the issuer on December 10, 2025, with the payment to investors on December 12, 2025 [2][11]. Reasons for Repurchase Clause Activation - The board meeting on November 7, 2025, and the subsequent shareholder meeting on November 25, 2025, approved the termination of the hydrogen fuel cell project, leading to the activation of the repurchase clause [3][4][5]. - Remaining funds of 179.1783 million CNY (including investment income) will be permanently supplemented into working capital [3]. Repurchase Rights - Holders of "Meijin Convertible Bonds" have the right to choose whether to exercise the repurchase option, which is not mandatory [2][9]. - The repurchase rights are valid only during the specified application period, and failure to apply will result in the loss of this right [5][11]. Interest Calculation - The interest for the repurchase is calculated at 1.60% for the current period, resulting in an additional interest of 0.986 CNY per bond [6][7]. - The total repurchase price, including interest, is therefore 100.986 CNY per bond [8]. Trading During Repurchase Period - "Meijin Convertible Bonds" will continue to trade during the repurchase period but will be suspended from conversion [12][15]. - If bondholders submit multiple requests (trading, transfer, repurchase), they will be processed in the order of trading, repurchase, and transfer [12]. Resumption of Conversion - The conversion of "Meijin Convertible Bonds" will resume on December 8, 2025, after the repurchase application period ends [14][16].