Shandong Kaisheng New Materials (SZ:301069) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2026-01-09 23:02Summary of Key Points Core Viewpoint The announcement from Shandong Kaisheng New Materials Co., Ltd. highlights the imminent cessation of trading and conversion for its convertible bonds, "Kaisheng Convertible Bonds," urging investors to act before the deadlines to avoid forced redemption. Group 1: Important Dates and Actions - The last trading day for "Kaisheng Convertible Bonds" is January 9, 2026, with the bond's name changed to "Z Sheng Convertible Bonds" [2][22] - The final conversion date is January 14, 2026, after which unconverted bonds will cease to be convertible [3][21] - The redemption price is set at 100.10 yuan per bond, including interest and tax [4][22] Group 2: Redemption and Trading Details - The bonds will stop trading on January 12, 2026, and the redemption date is January 15, 2026 [5][22] - Investors must ensure that any pledged or frozen bonds are released before the trading halt to avoid forced redemption [4][23] - The company will complete the redemption process and the bonds will be delisted from the Shenzhen Stock Exchange after the redemption [4][23] Group 3: Bond Issuance and Conditions - The company issued 6.5 million convertible bonds with a total fundraising amount of 650 million yuan [25][26] - The bonds were listed on the Shenzhen Stock Exchange starting December 15, 2023 [26] - The conversion period for the bonds runs from June 5, 2024, to November 28, 2029, with an initial conversion price of 20.26 yuan per share [27][28] Group 4: Conversion Price Adjustments - The conversion price will be adjusted based on dividend distributions, with the first adjustment reducing the price to 20.11 yuan per share effective April 25, 2024 [28] - Subsequent adjustments will continue to lower the conversion price based on future dividend distributions [29][30][31] Group 5: Conditional Redemption Clauses - The company has the right to redeem the bonds if the stock price exceeds 130% of the conversion price for a specified number of trading days [32][33] - The board has decided to exercise the redemption rights based on current market conditions and the bond's performance [34]