Group 1 - The company issued 330,000 convertible bonds with a total amount of 33 million yuan, with a maturity of 6 years and a tiered interest rate starting from 0.4% in the first year to 3.0% in the sixth year [2] - The initial conversion price was set at 13.88 yuan per share, which has been adjusted multiple times due to profit distribution and capital reserve conversion [2][3] - The latest adjustment of the conversion price is from 7.68 yuan to 7.45 yuan, effective from June 7, 2024 [3] Group 2 - The company has a conditional redemption clause for the convertible bonds, which can be triggered if the stock price exceeds 130% of the conversion price for at least 15 out of 30 consecutive trading days [4] - The company has the right to redeem all or part of the unconverted bonds at face value plus accrued interest if the redemption conditions are met [4][6] - As of May 20, 2025, the stock price has met the condition for triggering the redemption clause, with 10 trading days above the threshold [6]

Group 1 - The company has issued a total of 4,678,889 convertible bonds with a face value of RMB 100 each, raising a total of RMB 467.8889 million, netting RMB 460.6697 million after expenses [1][2] - The convertible bonds were listed on the Shenzhen Stock Exchange on July 26, 2024, under the name "Yanpai Convertible Bonds" with the code "123243" [2] - The initial conversion price for the bonds was set at RMB 7.58 per share, which has been adjusted to RMB 7.57 per share due to an increase in the company's total share capital [3][2] Group 2 - The company has a conditional redemption clause for the convertible bonds, which can be triggered if the company's stock price remains above 130% of the conversion price for at least 15 out of 30 consecutive trading days [3][5] - As of May 6, 2025, the company's stock price has been above RMB 9.84 (130% of the conversion price) for ten consecutive trading days, indicating a potential trigger for the redemption clause [5][6] - The company will convene a board meeting to decide on the redemption of the bonds if the conditional redemption clause is triggered, ensuring compliance with relevant regulations [5][6]

Core Viewpoint - Zhejiang Hongchang Electric Technology Co., Ltd. has announced that its stock price has remained above 130% of the current conversion price of its convertible bonds, potentially triggering the conditional redemption clause of the "Hongchang Convertible Bonds" [1][6]. Group 1: Convertible Bond Basic Information - The company issued 3.8 million convertible bonds with a total value of 380 million yuan, netting 374.16 million yuan after expenses [2]. - The bonds were listed on the Shenzhen Stock Exchange on August 30, 2023, under the name "Hongchang Convertible Bonds" and code "123218" [2]. - The conversion period for the bonds is from February 19, 2024, until the maturity date [2]. Group 2: Conversion Price Adjustment - The board of directors has approved a downward adjustment of the conversion price to 28.00 yuan per share, effective from March 12, 2024 [3]. - The board decided not to further adjust the conversion price for six months following the recent decision, with a potential review after October 14, 2024 [3]. Group 3: Conditional Redemption Clause - The conditional redemption clause allows the company to redeem the bonds if the stock price remains above 130% of the conversion price for at least 15 out of 30 consecutive trading days [6]. - As of May 16, 2025, the stock price has met this condition for 10 trading days, indicating a possibility of triggering the redemption clause if the trend continues [6].

Core Viewpoint - The announcement details the implementation of the redemption of the convertible bond "Xing Shuai Zuan 2" and emphasizes the importance for bondholders to convert their bonds within the specified period to avoid potential losses [1][4]. Summary by Sections Convertible Bond Basic Information - The company issued 4,629,000 convertible bonds on June 14, 2023, with a total value of 462.90 million yuan, each with a face value of 100 yuan [1]. - The bonds were listed on the Shenzhen Stock Exchange on July 17, 2023, under the code "127087" [2]. - The conversion period for the bonds is from December 20, 2023, to June 13, 2029 [2]. - The initial conversion price was set at 13.35 yuan per share, which was adjusted to 13.36 yuan per share on September 26, 2023, due to the repurchase of restricted shares [2][3]. Redemption Overview - The redemption was triggered as the stock price exceeded 130% of the conversion price (8.10 yuan) for 15 trading days from February 20, 2025, to March 18, 2025 [4]. - The board approved the early redemption of the bonds on March 18, 2025, based on market conditions [4]. Redemption Terms - The redemption price is set at 100.41 yuan per bond, which includes accrued interest calculated based on a 0.5% annual interest rate [5]. - The accrued interest for the period from June 14, 2024, to April 10, 2025, is calculated to be 0.41 yuan per bond [5]. Redemption Implementation Arrangements - The redemption will be executed for all bondholders registered by the close of trading on April 9, 2025 [6]. - After the redemption, "Xing Shuai Zuan 2" will be delisted from the Shenzhen Stock Exchange [6]. Other Important Notes - The company advises bondholders to consult their brokerage firms for specific conversion operations and to be aware of the regulations regarding the conversion of bonds into shares [7].