Hongfa(SH:600885) Shang Hai Zheng Quan Bao·2025-12-04 19:59Core Viewpoint - The announcement details the early redemption and delisting of "Hongfa Convertible Bonds" (宏发转债), with specific dates and conditions for investors to be aware of [1][3][13]. Group 1: Redemption Details - The last trading day for "Hongfa Convertible Bonds" is December 8, 2025, and the last conversion day is December 11, 2025 [2][12]. - The redemption price is set at 100.2219 CNY per bond, which includes accrued interest of 0.2219 CNY [5][9]. - The redemption will take effect on December 12, 2025, when the bonds will be delisted from the Shanghai Stock Exchange [3][13]. Group 2: Conditions for Redemption - The conditional redemption clause was triggered as the stock price was above 130% of the conversion price (22.72 CNY) for 15 trading days from October 31 to November 20, 2025 [4][7]. - The company has the right to redeem all or part of the unconverted bonds if the balance is less than 30 million CNY or if the stock price condition is met [6][7]. Group 3: Investor Actions - Investors are advised to convert or sell their bonds within the specified time frame to avoid forced redemption [4][17]. - After the redemption registration date on December 11, 2025, unconverted bonds will be frozen and cease trading [8][17]. Group 4: Tax Implications - Individual investors are subject to a 20% tax on interest income, resulting in a net redemption amount of 100.1775 CNY per bond after tax [14][15].