Shandong Kaisheng New Materials (SZ:301069) Xin Lang Cai Jing·2026-01-08 23:14Core Viewpoint - The last trading day for Kaisheng Convertible Bonds is January 9, with a closing price of 141.60 CNY per bond as of January 8. Investors who fail to trade or convert in time may face losses exceeding 29% due to forced redemption [1][3][7]. Group 1: Trading and Redemption Information - Investors can continue trading Kaisheng Convertible Bonds until the market closes on January 9, and can convert bonds into shares at a price of 19.96 CNY per share from January 9 to January 14 [5][13]. - After the market closes on January 14, unconverted bonds will be forcibly redeemed at a price of 100.10 CNY per bond, which is the face value plus accrued interest [5][13]. - As of January 8, the price of Kaisheng Convertible Bonds was 141.60 CNY per bond, indicating a potential loss of over 29% if investors do not act in time [5][13]. Group 2: Forced Redemption Mechanism - The forced redemption of convertible bonds occurs when the underlying stock price meets specific criteria, including being at least 130% of the conversion price for at least 15 out of 30 trading days [14]. - Investors are advised to either sell their convertible bonds or convert them within the specified timeframe to avoid losses, as the company will redeem unconverted bonds at a price slightly above face value [14]. - New regulations have introduced a "Z" designation for the last trading day of convertible bonds to alert investors to the associated risks [6][14].