USISH(SH:601231) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2026-01-07 22:59Core Viewpoint - The company has triggered the conditional redemption clause for its convertible bonds due to the stock price exceeding the specified threshold, leading to a decision to redeem all outstanding bonds at face value plus accrued interest [1][4][6]. Group 1: Convertible Bond Issuance Overview - The company issued 34.5 million convertible bonds on March 4, 2021, with a total amount of RMB 345 million and a maturity period of six years [2]. - The coupon rates for the bonds are structured to increase over the years, starting from 0.10% in the first year to 2.00% in the sixth year [2]. Group 2: Listing and Trading of Convertible Bonds - The convertible bonds were listed on the Shanghai Stock Exchange on April 2, 2021, under the name "环旭转债" and code "113045" [3]. Group 3: Redemption Terms and Trigger Conditions - The company has the right to redeem the bonds if the stock price remains above 130% of the conversion price for at least 20 out of 30 trading days [4][5]. - The redemption clause was triggered as of January 7, 2026, when the stock price was above RMB 24.154, which is 130% of the conversion price of RMB 18.58 [1][4]. Group 4: Decision on Early Redemption - The board of directors approved the early redemption of the convertible bonds on January 7, 2026, and authorized management to handle all related matters [6]. Group 5: Shareholder Trading Activity - There were no transactions of the convertible bonds by major shareholders or executives in the six months leading up to the redemption condition being met [7].