Feymer(SH:688350) Shang Hai Zheng Quan Bao·2026-01-30 21:04Core Viewpoint - Jiangsu Fumiao Technology Co., Ltd. is implementing the early redemption of its convertible bonds ("Fumiao Convertible Bonds") and will delist them from the Shanghai Stock Exchange on February 6, 2026 [1][4][17]. Redemption Details - The last trading day for "Fumiao Convertible Bonds" is February 2, 2026, and the last conversion day is February 5, 2026 [2][3][16]. - The redemption price is set at 100.2178 CNY per bond, which includes the face value and accrued interest [4][10][15]. - The redemption will occur on February 6, 2026, with the redemption registration date being February 5, 2026 [6][9][12]. Conditions for Redemption - The conditional redemption clause has been triggered as the company's stock price has been above 130% of the conversion price for at least 15 trading days within a 30-day period [5][9]. - The company has the right to redeem all or part of the unconverted bonds if the remaining balance is less than 30 million CNY [7][9]. Interest Calculation - The accrued interest for the bonds is calculated using the formula: IA = B × i × t / 365, where IA is the accrued interest, B is the total face value, i is the annual coupon rate, and t is the number of days [8][11][14]. - For this period, the coupon rate is 1.50%, and the total days from the last interest payment to the redemption date is 53 days [12][13]. Tax Implications - Individual investors are subject to a 20% tax on the interest income from the bonds, resulting in a net redemption amount of 100.1742 CNY per bond after tax [18]. - For qualified foreign institutional investors, the redemption amount remains at 100.2178 CNY per bond as they are exempt from certain taxes during the specified period [19].