| 证券代码：002541 | 证券简称：鸿路钢构 | 公告编号：2025-074 | | --- | --- | --- | | 债券代码：128134 | 债券简称：鸿路转债 | | 安徽鸿路钢结构（集团）股份有限公司 关于"鸿路转债"回售的第二次提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、投资者回售选择权：根据《安徽鸿路钢结构（集团）股份有限公司公开 发行可转换公司债券募集说明书》（以下简称《募集说明书》）的约定，"鸿路 转债"持有人可回售部分或者全部未转股的"鸿路转债"。"鸿路转债"持有人 有权选择是否进行回售，本次回售不具有强制性。 2、回售价格：100.312 元/张（含息税） 3、回售条件触发日：2025 年 11 月 19 日 4、回售申报期：2025 年 12 月 5 日至 2025 年 12 月 11 日 5、发行人资金到账日：2025 年 12 月 16 日 （一）回售条款 公司在《募集说明书》中约定的有条件回售条款具体如下： 本次发行的可转换公司债券最后两个计息年度，如果公司股票在任何连续 30 个交易日 ...

Core Viewpoint - Honglu Steel Structure announced that its stock price has been below 70% of the conversion price of its convertible bonds for 30 consecutive trading days, triggering the conditional redemption clause for the bonds [2] Summary by Sections Company Announcement - Honglu Steel Structure's stock price has been below the conversion price of 32.08 yuan per share for 30 consecutive trading days from October 9, 2025, to November 19, 2025 [2] - The conditional redemption clause for the "Honglu Convertible Bonds" has been activated due to the stock price situation and the bonds being in the last two interest payment years [2] - Bondholders have the option to redeem part or all of their unconverted "Honglu Convertible Bonds" based on the terms outlined in the prospectus [2]

Investment Rating - The report maintains an investment rating of "Outperform" for the construction and decoration industry [3]. Core Viewpoints - The report highlights a continued decline in fixed asset investment in October, with a focus on the positive impact of moderately loose monetary policy and the acceleration of strategic project implementation [14][20]. - It emphasizes the increase in net financing of special bonds and rapid deployment of special government bonds, indicating a supportive funding environment for infrastructure projects [21][19]. Summary by Sections Industry Perspective and Investment Recommendations - The construction and decoration index rose by 0.35%, outperforming the overall A-share index by 0.53 percentage points, with notable performances in landscaping engineering and decoration sectors [13][30]. - Fixed asset investment from January to October 2025 reached CNY 408,914 billion, down 1.7% year-on-year, with infrastructure investment at CNY 203,809 billion, growing by 1.5% [14][16]. Key Company Dynamics - China Construction reported a new contract total of CNY 33,194 billion from January to October 2025, up 2.0% year-on-year [37]. - China Metallurgical Group announced a new contract amount of CNY 8,451 billion, down 11.8% year-on-year [37]. Valuation Status - As of November 14, 2025, the price-to-earnings (PE) ratios for various construction sub-sectors were as follows: housing construction at 6.64x, decoration at -24.37x, and municipal engineering at 8.14x [40].

| 证券代码：002541 | 证券简称：鸿路钢构 | 公告编号：2025-073 | | --- | --- | --- | | 债券代码:128134 | 债券简称：鸿路转债 | | 安徽鸿路钢结构（集团）股份有限公司 关于"鸿路转债"回售的第一次提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、投资者回售选择权：根据《安徽鸿路钢结构（集团）股份有限公司公开 发行可转换公司债券募集说明书》（以下简称《募集说明书》）的约定，"鸿路 转债"持有人可回售部分或者全部未转股的"鸿路转债"。"鸿路转债"持有人 有权选择是否进行回售，本次回售不具有强制性。 8、在回售资金发放日之前，如持有的本期债券发生司法冻结或划扣等情形， 债券持有人本次回售申报业务失效。 安徽鸿路钢结构（集团）股份有限公司（以下简称"公司"或"本公司"） 的股票自 2025 年 10 月 9 日至 2025 年 11 月 19 日连续三十个交易日的收盘价低 于当期"鸿路转债"转股价格（32.08 元/股）的 70%，且"鸿路转债"处于最后 两个计息年度，根据《募集说明书》 ...

Core Points - The company announced the conditional redemption of its convertible bonds, "Honglu Convertible Bonds," allowing bondholders to sell back part or all of their unconverted bonds [2][3][12] - The redemption price is set at 100.312 CNY per bond, including interest and tax [3][8] - The redemption conditions were triggered due to the company's stock price being below 70% of the conversion price for 30 consecutive trading days [3][18] Redemption Details - Redemption Price: 100.312 CNY per bond, which includes accrued interest calculated at a rate of 2.0% for the current interest period [7][8] - Redemption Period: Bondholders can submit their redemption requests from December 5, 2025, to December 11, 2025 [5][10] - Payment Dates: Funds will be credited to the company on December 16, 2025, with payments to bondholders on December 18, 2025 [5][11] Trading and Conversion Suspension - The company will suspend the conversion of "Honglu Convertible Bonds" during the redemption period from December 5, 2025, to December 11, 2025, but trading will continue [19][17] - Conversion will resume on December 12, 2025, after the redemption period ends [19][17] Legal and Regulatory Compliance - The company has ensured compliance with relevant regulations and will publish announcements regarding the redemption process in specified financial newspapers and platforms [9][12]

Core Points - Honglu Steel Structure announced the suspension of the conversion of its convertible bonds, "Honglu Convertible Bonds," starting from December 5, 2025, for a period of five trading days until December 11, 2025 [2] - The conversion will resume on December 12, 2025, the trading day following the end of the repurchase application period [2] - During the suspension period, the company's convertible bonds will continue to trade normally, and bondholders are advised to pay attention [2]

Group 1 - The core point of the article is that Honglu Steel Structure announced the right for holders of its convertible bonds to sell back part or all of their unconverted bonds, providing flexibility for investors [2] - The buyback period for the convertible bonds, referred to as "Honglu Convertible Bonds," is set from December 5, 2025, to December 11, 2025 [2] - The buyback option is not mandatory, allowing bondholders to choose whether to exercise this right [2]

| 证券代码：002541 | 证券简称：鸿路钢构 | 公告编号：2025-071 | | --- | --- | --- | | 债券代码：128134 | 债券简称：鸿路转债 | | 安徽鸿路钢结构（集团）股份有限公司 关于"鸿路转债"回售的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、投资者回售选择权：根据《安徽鸿路钢结构（集团）股份有限公司公开 发行可转换公司债券募集说明书》（以下简称《募集说明书》）的约定，"鸿路 转债"持有人可回售部分或者全部未转股的"鸿路转债"。"鸿路转债"持有人 有权选择是否进行回售，本次回售不具有强制性。 2、回售价格：100.312 元/张（含息税） 3、回售条件触发日：2025 年 11 月 19 日 4、回售申报期：2025 年 12 月 5 日至 2025 年 12 月 11 日 5、发行人资金到账日：2025 年 12 月 16 日 6、回售款划拨日：2025 年 12 月 17 日 若在前述 30 个交易日内发生过转股价格因发生送股票股利、转增股本、增 发新股（不包括因本次发行的可转换公司债 ...

| | | 安徽鸿路钢结构（集团）股份有限公司 关于"鸿路转债"回售期间暂停转股的公告 （一）可转债发行情况 经中国证券监督管理委员会"证监许可[2020]1983 号"文核准，安徽鸿路 钢结构（集团）股份有限公司（以下简称"公司"）于 2020 年 10 月 9 日公开发 行 1,880 万张可转换公司转债，每张面值为人民币 100 元，发行总额 18.80 亿元， 期限为六年。 （二）可转债上市情况 经深圳证券交易所 "深证上[2020]971号"文同意，公司本次公开发行的可 转换公司债券于2020年11月2日在深圳证券交易所挂牌交易，债券简称"鸿路转 债"，债券代码"128134"。目前公司可转债处于转股期。 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 债券代码：128134 债券简称：鸿路转债 转股起止时间：2021 年 4 月 15 日至 2026 年 10 月 8 日 暂停转股时间：2025 年 12 月 5 日至 2025 年 12 月 11 日 恢复转股时间：2025 年 12 月 12 日 一、可转债上市发行概况 二、公司可转 ...

上海天衍禾律师事务所 法律意见书 上海天衍禾律师事务所 关于 安徽鸿路钢结构（集团）股份有限公司 可转换公司债券回售的 法律意见书 地址：上海市普陀区云岭东路 89 号长风国际大厦 2006 室 电话：（021）52830657 传真：（021）52895562 上海天衍禾律师事务所 法律意见书 上海天衍禾律师事务所 为出具本法律意见书，本所及本所律师特作如下声明： （一）本所及本所律师根据《证券法》《律师事务所从事证券法律业务管理 办法》和《律师事务所证券法律业务执业规则（试行）》等我国现行法律、法规 和规范性文件的规定及本法律意见书出具之日以前已经发生或者存在的事实，严 格履行了法定职责，遵循了勤勉尽责和诚实信用原则，进行了充分的核查、验证， 保证本法律意见书所认定的事实真实、准确、完整，所发表的结论性意见合法、 准确，不存在虚假记载、误导性陈述或者重大遗漏，并愿意承担相应的法律责任。 （二）本法律意见书依据中国现行有效的或者公司的行为、有关事实发生或 存在时有效的法律、法规和规范性文件，并基于本所律师对该等法律、法规和规 范性文件的理解而出具。 （三）本法律意见书仅就与本次回售有关的中国境内法律问题发表 ...