证券代码：603089 证券简称：正裕工业 公告编号：2025-037 债券代码：113561 债券简称：正裕转债 浙江正裕工业股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： ? 浙江正裕工业股份有限公司（以下简称"公司"）股票自 2025 年 5 月 6 日至 2025 年 5 月 26 日，已有十五个交易日的收盘价格不低于当期转股价格 公开发行可转换公司债券募集说明书》 （以下简称《可转换公司债券募集说明书》） 的相关约定，已触发"正裕转债"的有条件赎回条款。 ? 公司于 2025 年 5 月 26 日召开第五届董事会第十九次会议，审议通过 《关 于提前赎回"正裕转债"的议案》，公司董事会决定行使"正裕转债"的提前赎 回权利，对赎回登记日登记在册的"正裕转债"按照债券面值加当期应计利息的 价格全部赎回。 ? 投资者所持可转债除在规定时限内通过二级市场继续交易或按照 8.50 元的转股价格进行转股外，仅能选 100 元/张的票面价格加当期应计利息被强制 赎回。若被强制赎回，可能面临较大投资 ...

广发证券股份有限公司 关于浙江正裕工业股份有限公司 提前赎回"正裕转债"的核查意见 广发证券股份有限公司（以下简称"广发证券"或"保荐机构"）作为浙江 正裕工业股份有限公司（以下简称"正裕工业"或"公司"）公开发行可转换公 司债券的保荐机构，根据《证券发行上市保荐业务管理办法》《可转换公司债券 管理办法》 《上海证券交易所股票上市规则》 《上海证券交易所上市公司自律监管 （以下简称《可转换公司债券募集说明书》）的约定，公司本 次发行的"正裕转债"自发行结束之日（2020 年 1 月 7 日）满六个月后的第一 个交易日，即 2020 年 7 月 7 日起可转换为公司股份。 （一）可转债发行情况 经中国证券监督管理委员会《关于核准浙江正裕工业股份有限公司公开发行 （证监许可20192308 号）核准，正裕工业于 2019 年 12 可转换公司债券的批复》 月 31 日向社会公开发行可转换公司债券 290 万张，每张面值为人民币 100 元， 按面值发行，发行总额为人民币 2.9 亿元，期限 6 年。本次发行的可转换公司债 券票面利率为：第一年 0.5%、第二年 0.8%、第三年 1.2%、第四年 1.8%、第五 ...

Core Viewpoint - The banking convertible bond market is likely to experience a new wave of early redemption as several bank convertible bonds approach their redemption thresholds, highlighting the scarcity of blue-chip convertible bonds in the market [1][3]. Group 1: Early Redemption Triggers - Hangzhou Bank's convertible bond (杭银转债) is on the verge of triggering early redemption, with its stock price consistently above the required threshold [2]. - Nanjing Bank's convertible bond (南银转债) is also nearing its early redemption phase, as its stock price has surpassed the redemption price [3]. - The overall performance of bank stocks has been strong, with the China Securities Banking Index rising by 44.84% in 2024, contributing to the upward trend in bank convertible bond prices [3]. Group 2: Market Dynamics - The issuance of new convertible bonds this year is only 17 billion yuan, significantly lower than the amount being delisted, leading to a supply-demand imbalance [1]. - The scarcity of blue-chip convertible bonds is expected to increase as more bank convertible bonds are redeemed, while the supply of smaller convertible bonds remains high, potentially increasing market volatility [1][4]. - The market is anticipated to shrink due to natural expirations of convertible bonds, with a notable reduction in available supply as 50 billion yuan of Shanghai Pudong Development Bank's convertible bonds approach maturity [3]. Group 3: Investment Strategies - The strategy of investing in low-priced convertible bonds is facing challenges as the market shifts, with many bank convertible bonds now in the mid to high price range [5]. - Analysts suggest that the current market has about 10 bank convertible bonds, with total outstanding amounts potentially decreasing from 170 billion yuan to around 100 billion yuan, increasing the scarcity of large bank convertible bonds [5]. - Public funds are expected to adjust their performance evaluation mechanisms, leading to a potential increase in the allocation of high-rated, undervalued bank convertible bonds, which may present opportunities for excess returns [5].

Core Viewpoint - A number of convertible bonds are approaching their last trading and conversion days, and investors must act promptly to avoid significant losses due to forced redemption [1][2][6]. Group 1: Specific Convertible Bonds - The last trading day for Daon Convertible Bond is May 7, 2025, after which it will stop trading [3][4]. - If investors do not sell or convert their Daon Convertible Bonds by the deadlines, they may incur losses exceeding 25% due to forced redemption at a price of 101.73 yuan [4][5]. - The latest price of Daon Convertible Bond is 135.855 yuan, while its conversion value is 136.565 yuan, indicating that timely conversion can mitigate losses [4][5]. Group 2: Other Convertible Bonds - Huisheng Biological's Huisheng Convertible Bond will stop trading on May 16, 2025, and stop conversion on May 21, 2025, with a forced redemption price of 100.64 yuan [6]. - The latest price of Huisheng Convertible Bond is 159.999 yuan, and failure to act could result in a loss of 37.1% [6]. - Feikai Materials' Feikai Convertible Bond will stop trading on May 19, 2025, and stop conversion on May 22, 2025, with a forced redemption price of 100.87 yuan [7][8]. - The latest price of Feikai Convertible Bond is 133.400 yuan, and not converting could lead to a loss of 24.39% [8].

Core Viewpoint - A number of convertible bonds are approaching their early redemption clauses, and investors risk significant losses if they do not sell or convert their holdings in time [1][2][3]. Group 1: Specific Convertible Bonds - The last trading day for Daon Convertible Bond is May 7, and failure to sell or convert by this date could result in losses exceeding 25% [2][4]. - Daon Convertible Bond will stop trading after May 7, and the last conversion date is May 12, 2025. If investors do not convert by then, they will face forced redemption at a price of 101.73 yuan, leading to a potential loss of 25.12% [5][6]. - The current price of Daon Convertible Bond is 135.855 yuan, while its conversion value is 136.565 yuan, indicating that timely conversion can help avoid significant losses [6]. - Other convertible bonds, such as Huisheng and Feikai, are also approaching their last trading and conversion dates, requiring investor attention to these deadlines [3][8]. Group 2: Redemption Details - Huisheng Convertible Bond will stop trading on May 16 and stop conversion on May 21, with a forced redemption price of 100.64 yuan, leading to a potential loss of 37.1% if not converted [9]. - Feikai Convertible Bond will stop trading on May 19 and stop conversion on May 22, with a forced redemption price of 100.87 yuan, resulting in a potential loss of 24.39% if investors do not act in time [10].

Core Viewpoint - The company announces the early redemption of "Bojie Convertible Bonds" at a price of 100.70 CNY per bond, urging bondholders to convert their bonds into shares before the deadline to avoid potential losses [1][12][14]. Summary by Sections Convertible Bond Basic Information - The company issued 5.26 million convertible bonds on November 17, 2021, with a total amount of 52.6 million CNY, and each bond has a face value of 100 CNY [1][2]. - The initial conversion price was set at 62.17 CNY per share, which was later adjusted to 61.82 CNY and subsequently to 61.85 CNY due to equity distribution [2][4][6]. Conversion Price Adjustments - The conversion price was adjusted to 61.87 CNY on August 1, 2023, and further adjusted to 61.89 CNY on May 7, 2024, following the company's stock performance and share repurchase actions [6][7][11]. Early Redemption Conditions - The company has the right to redeem the convertible bonds if the stock price exceeds 130% of the conversion price for a specified period. The redemption price is set at 100.70 CNY per bond, including accrued interest [12][13]. - The redemption will occur on April 25, 2025, and all bondholders registered by April 24, 2025, will be eligible for redemption [13][14]. Redemption Implementation - The accrued interest for the bonds is calculated based on the formula provided, resulting in an approximate interest of 0.70 CNY per bond for the current period [12][13]. - The company will notify bondholders of the redemption results and the delisting of the bonds from the Shenzhen Stock Exchange [13][14]. Shareholder Transactions - The company confirms that major shareholders and executives did not trade "Bojie Convertible Bonds" in the six months leading up to the redemption conditions being met [13][14].