WANNIANQING(SZ:000789) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-12-17 23:39Summary of Key Points Core Viewpoint - The company announces the conditional redemption of its convertible bonds ("万青转债") due to the stock price falling below a specified threshold, allowing bondholders to redeem their bonds at a predetermined price [2][3]. Group 1: Redemption Conditions - The redemption price is set at 101.235 RMB per bond, including interest and tax [1][6]. - The redemption condition is triggered when the company's stock price has been below 70% of the conversion price (5.97 RMB) for 30 consecutive trading days [2][3]. - The redemption period for bondholders is from December 16, 2025, to December 22, 2025 [1][8]. Group 2: Redemption Process - Bondholders must submit their redemption requests through the Shenzhen Stock Exchange during the specified period, and once submitted, requests cannot be canceled [8][9]. - The company will process the redemption payments on December 26, 2025, with funds reaching investors by December 29, 2025 [9][10]. - During the redemption period, the bonds will continue to trade, but conversion into shares will be suspended [11]. Group 3: Interest Calculation - The interest for the redemption is calculated based on the formula: IA = B × i × t / 365, where B is the total face value of the bonds, i is the annual coupon rate (2.30%), and t is the number of days [4][5]. - For the current interest period, the calculated interest amounts to 1.235 RMB per bond [6]. Group 4: Tax Implications - Individual investors will have a 20% tax withheld on interest income, resulting in a net redemption amount of 100.988 RMB per bond [6]. - Qualified foreign institutional investors (QFII and RQFII) are exempt from corporate income tax and value-added tax, receiving the full redemption amount [6]. Group 5: Announcement and Reporting - The company will publish daily reminders regarding the redemption process until the end of the redemption period [7]. - After the redemption period, the company will announce the results and the impact of the redemption on its financials [10].