ECOVACS(SH:603486) Shang Hai Zheng Quan Bao·2026-01-21 20:13Core Viewpoint - The announcement details the conditional redemption rights for the "Kewo Convertible Bonds" (科沃转债), allowing bondholders to sell their bonds back to the company at a specified price if certain conditions are met [1][2]. Group 1: Redemption Terms - The redemption price for the "Kewo Convertible Bonds" is set at 100.26 RMB per bond, including accrued interest and tax [4][11]. - The redemption period is from January 21, 2026, to January 27, 2026, during which the bonds will stop converting into shares [4][10]. - Bondholders can choose to redeem either part or all of their unconverted bonds, and the redemption is not mandatory [7][8]. Group 2: Conditions for Redemption - The conditional redemption clause is activated if the company's stock price falls below 70% of the current conversion price for thirty consecutive trading days during the last two interest years of the bonds [2][3]. - If bondholders do not exercise their redemption rights during the specified period after the first occurrence of the redemption condition, they will lose the right to redeem for that interest year [3]. Group 3: Interest Calculation - The interest rate for the fifth year (from November 30, 2025, to November 29, 2026) is 1.8%, with the accrued interest calculated to be approximately 0.26 RMB per bond [6]. - The formula for calculating accrued interest is provided, ensuring transparency in how the redemption price is derived [5]. Group 4: Redemption Process - Bondholders must submit their redemption requests through the Shanghai Stock Exchange trading system during the redemption period, and once confirmed, these requests cannot be revoked [8][9]. - If a redemption request is not successful on the first day, bondholders can continue to submit requests on subsequent days within the redemption period [9]. Group 5: Post-Redemption Trading - The "Kewo Convertible Bonds" will continue to trade during the redemption period but will not be convertible into shares [14]. - If the total face value of the bonds in circulation falls below 30 million RMB due to redemptions, trading will still continue until the end of the redemption period [14]. Group 6: Company Contact Information - For further inquiries, bondholders can contact the company's securities department at the provided phone number [15].