Feymer(SH:688350) Shang Hai Zheng Quan Bao·2026-01-08 18:09Core Viewpoint - Jiangsu Fumei Technology Co., Ltd. has announced that its convertible bond "Fumei Convertible Bond" is expected to meet the redemption conditions based on stock price performance [1] Group 1: Convertible Bond Redemption Conditions - The company's stock has closed at or above 130% of the current conversion price (24.18 CNY/share) for 10 trading days from December 24, 2025, to January 8, 2026 [2] - If the stock price remains at or above 130% of the conversion price for 5 out of the next 20 trading days, it will trigger the conditional redemption clause as per the prospectus [2][11] - The company has the right to decide whether to redeem all or part of the unconverted "Fumei Convertible Bond" at face value plus accrued interest [11] Group 2: Convertible Bond Issuance Overview - The company issued 4.5 million convertible bonds at a face value of 100 CNY each, raising a total of 450 million CNY, with a maturity period from December 15, 2022, to December 14, 2028 [2][3] - The initial conversion price was set at 20.26 CNY/share, which has been adjusted to 18.60 CNY/share as of January 9, 2023 [3] Group 3: Adjustments to Conversion Price - The conversion price was adjusted from 20.26 CNY/share to 20.01 CNY/share due to the 2022 annual equity distribution, effective from June 5, 2023 [4] - Following the 2023 annual equity distribution, the conversion price was further adjusted from 20.01 CNY/share to 19.77 CNY/share, effective from May 27, 2024 [5] - A downward adjustment of the conversion price from 19.77 CNY/share to 18.43 CNY/share was approved on December 16, 2024, effective from December 18, 2024 [6] Group 4: Redemption Terms - The redemption terms state that the company can redeem the bonds at 110% of the face value plus the last interest payment after the bond's maturity [8] - Conditional redemption can occur if the stock price meets specific criteria, including a minimum of 15 out of 30 trading days at or above 130% of the conversion price or if the unconverted balance is below 30 million CNY [8]