证券代码：300725 证券简称：药石科技 公告编号：2025-075 一、可转换公司债券基本情况 （一）可转债发行情况 债券代码：123145 债券简称：药石转债 南京药石科技股份有限公司 关于药石转债转股数额累计达到转股前公司已发行股份总额 10%的 公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 下简称"公司"）发行的可转换公司债券（以下简称"可转债"）"药石转债" 累 计转股 数量为 20,717,967 股 ，占可转债开 始转股前公 司已发行 股份总 额 转债"未转股，占可转债发行总量 11,500,000 张的 39.41%。 经中国证券监督管理委员会《关于同意南京药石科技股份有限公司向不特 定对象发行可转换公司债券注册的批复》（证监许可[2022]622 号）同意，公司 于 2022 年 4 月 20 日向不特定对象发行可转换公司债券 1150 万张，发行价格为 每张面值 100 元人民币，按面值发行，募集资金共计人民币 1,150,000,000.00 元。 （二）可转债上市情况 经深圳证券交易所同意，公司本次可转换公司债券于 ...

人民财讯8月29日电，兴业银行（601166）行长陈信健在该行2025年半年度业绩说明会上表示，对兴业 银行股价继续修复，实现500亿元可转债转股，总体是比较乐观的。一方面，从银行板块来讲，基于风 险边际改善、中长期增量资金入市等积极因素，板块估值在显著修复；从兴业银行自身来看，整体业绩 稳中向好，分红政策也将更加积极，中期分红方案即将出炉，下阶段还将积极推动现有股东、新投资者 通过二级市场进行增持，或通过收购可转债进行转股等方式入股，进一步提升长期稳定的投资者持股比 例。 ...

Group 1 - The company will stop the conversion of "Changyin Convertible Bonds" during the implementation of the 2025 mid-term profit distribution plan, with resumption of conversion on the first trading day after the equity registration date [1][2] - The 2025 mid-term profit distribution plan includes a cash dividend of 1.50 yuan (before tax) for every 10 shares held by registered ordinary shareholders, based on the total share capital as of the equity registration date [1][2] - The company will announce the implementation of the 2025 mid-term profit distribution and the adjustment of the conversion price for "Changyin Convertible Bonds" on September 2, 2025 [2] Group 2 - The suspension of the conversion of "Changyin Convertible Bonds" will occur from September 1, 2025, until the equity registration date, with the last day for bondholders to convert being August 29, 2025 [2] - The board of directors has been authorized to determine the specific profit distribution plan in accordance with the profit distribution conditions [1]

Group 1 - The company announced that the cumulative number of shares converted from its convertible bonds, known as "应急转债," has reached 100,246,105 shares, accounting for 10.97% of the total shares issued before the conversion began, which was 913,808,115 shares [1][4] - The total amount of the convertible bonds issued was 818,931,200 yuan, with a total of 8,189,312 bonds issued at a face value of 100 yuan each, and the bonds have a term of 6 years [1][2] - The conversion period for the bonds started on October 16, 2020, and will last until the maturity date on April 9, 2026 [2][4] Group 2 - The conversion price for the bonds was adjusted downward to 7.06 yuan per share, effective from May 16, 2024, based on the average trading price of the company's stock prior to the annual shareholders' meeting [3][4] - As of August 22, 2025, the total share capital of the company is 1,014,054,220 shares, with 202,079 bonds remaining unconverted, which is 2.47% of the total bonds issued [4][5] - The company has conducted bond buyback sessions, with the latest session resulting in no bonds being repurchased, indicating low investor interest in the buyback option [4]

Core Viewpoint - The announcement details the results of the buyback of "Dio Convertible Bonds" and the impact on the company's financial structure, indicating that the buyback will not materially affect the company's financial status or operational capabilities [4][5]. Group 1: Buyback Results - The buyback price for "Dio Convertible Bonds" was set at 101.284 CNY per bond, including accrued interest and tax [2]. - The buyback period was from August 14 to August 20, 2025, with a total of 311 bonds submitted for buyback, amounting to 31,500.89 CNY [4][5]. - The funds from the buyback will be transferred to the designated account of the Shenzhen branch of China Securities Depository and Clearing Co., Ltd. by August 25, 2025, with investors receiving their funds by August 27, 2025 [5]. Group 2: Impact on Company - The buyback will not have a substantial impact on the company's financial condition, operational results, cash flow, or capital structure [5]. - The remaining "Dio Convertible Bonds" will continue to be traded on the Shenzhen Stock Exchange [5]. Group 3: Conversion Status - As of August 21, 2025, a total of 123,110,019 shares have been converted from "Dio Convertible Bonds," representing 31.82% of the company's total shares before conversion [6][15]. - There are still 8,719,101 bonds unconverted, which is 58.13% of the total issued convertible bonds [6][15]. Group 4: Shareholder Dilution - The conversion of "Dio Convertible Bonds" has led to a passive dilution of the shareholding percentage of major shareholders, with the controlling shareholder's stake decreasing from 29.60% to 27.89% [20][21]. - This dilution does not affect the control of the company or its governance structure [21]. Group 5: Share Buyback Progress - As of August 22, 2025, the company has repurchased 8,377,907 shares, accounting for 1.66% of the total share capital, with a total expenditure of 51,318,224.49 CNY [27][28]. - The buyback is in accordance with the company's previously approved plan and complies with relevant regulations [28][29].

Core Viewpoint - The company reported a revenue growth in the first half of 2025 but experienced a decline in net profit, indicating challenges in maintaining profitability amidst rising raw material costs [1] Group 1: Financial Performance - In the first half of 2025, the company achieved a revenue of 3.533 billion yuan, representing a year-on-year growth of 20.73% [1] - The net profit attributable to shareholders was 222 million yuan, showing a year-on-year decline of 6.19% [1] - The gross profit margin was 21.51%, down 3.57 percentage points from the same period last year, primarily due to rising prices of precious metal raw materials, particularly a 36.57% increase in the average price of gold salts [1] Group 2: Profitability Improvement Measures - The company is optimizing its sales structure by eliminating loss-making orders and reducing the proportion of low-margin orders, while enhancing joint product development with key customers [2] - Efforts to improve sales capabilities include expanding and optimizing the overseas sales team and establishing a scientific performance evaluation and incentive mechanism [2] - Cost control measures involve constructing a cost analysis model, precise cost management, and optimizing procurement strategies [2] Group 3: Capacity and Production - The overall capacity utilization rate is around 85%, with ongoing efforts to release capacity in the PCB production facilities in Zhuhai and accelerate the construction of the Thailand production base [5] - The company plans to establish a new HDI factory in Jiangmen to meet market demand and enhance operational performance [5] Group 4: Subsidiary Performance - The subsidiary, San De Guan, is facing challenges in the FPC sector with price declines and low profit margins, but has reduced losses by 14.03 million yuan in 2024 [6] - There is potential for San De Guan to turn profitable in the second half of 2025 as FPC product prices stabilize and demand recovers [6] Group 5: Market Dynamics - The company's revenue from the U.S. market accounts for approximately 10%, with current sales orders and shipments remaining stable and unaffected by significant impacts [7] - Future strategies include deepening market diversification, optimizing customer cooperation strategies, and accelerating the layout of overseas production bases to respond to changes in tariff policies [7]

Company Overview - The company has not made any adjustments or restatements to previous accounting data [2] - The number of shareholders and their holdings are not disclosed in detail [2] Financial Highlights - The company plans to distribute a cash dividend of 0.500000 RMB for every 10 shares, with a total share base of 187,837,001 shares after excluding repurchased shares [4] - The company has approved a share repurchase plan with a budget between 40 million RMB and 70 million RMB, with a maximum repurchase price set at 28.11 RMB per share [5][6] - As of June 30, 2025, the company repurchased 2,500,500 shares, accounting for 1.1417% of the total share capital, with a total transaction amount of approximately 38.73 million RMB [6] Shareholder Information - There have been no changes in the controlling shareholder or actual controller during the reporting period [3][4] Convertible Bonds - The conversion price of the company's convertible bonds was adjusted from 14.98 RMB to 14.93 RMB following the annual equity distribution [8] - As of June 30, 2025, a total of 5,738,549 convertible bonds were converted into 38,356,626 shares, with 1,261,451 bonds remaining [9] - The company decided to exercise the early redemption of its convertible bonds, which were fully redeemed by July 21, 2025 [10]

证券代码：002174 证券简称：游族网络 公告编号：2025-059 债券代码：128074 债券简称：游族转债 游族网络股份有限公司 关于"游族转债"转股数额累计达到转股前公司已发行股份 总额 10%的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 经中国证券监督管理委员会《关于核准游族网络股份有限公司公开发行可转 换公司债券的批复》（证监许可〔2019〕1560 号）核准，游族网络股份有限公 司（以下简称"公司"）于 2019 年 9 月 23 日公开发行了 11,500,000 张可转债， 每张面值 100 元，发行总额 115,000.00 万元，期限 6 年。本次公开发行的可转 债向公司在股权登记日收市后登记在册的原股东优先配售，原股东优先配售后余 额部分（含原股东放弃优先配售部分）采用网上向社会公众投资者通过深交所交 易系统发售的方式进行。对认购金额不足 115,000.00 万元的部分由主承销商包 销。 经深交所"深证上〔2019〕640 号"文同意，公司 1,150,000,000.00 元可 转债于 2019 年 10 月 21 日起 ...

Core Viewpoint - The announcement details the cumulative conversion of "Rongtai Convertible Bonds" into the company's common stock, indicating significant shareholder engagement and adjustments in conversion prices due to profit distribution plans [2][4][5][6][7][8]. Group 1: Convertible Bond Conversion Status - As of August 18, 2025, a total of RMB 338,153,000 worth of "Rongtai Convertible Bonds" has been converted into 14,654,387 shares, representing 10.4674% of the company's total shares before conversion [2][8]. - The remaining unconverted "Rongtai Convertible Bonds" amount to RMB 261,847,000, which is 43.6412% of the total issuance [2][8]. Group 2: Convertible Bond Issuance Overview - The company issued 6 million convertible bonds on October 30, 2020, with a total value of RMB 60 million and a maturity of 6 years, featuring a tiered interest rate structure [3]. - The bonds were listed on the Shanghai Stock Exchange on November 20, 2020, under the name "Rongtai Convertible Bonds" with the code "113606" [3]. Group 3: Conversion Price Adjustments - The initial conversion price was set at RMB 33.32 per share, which has been adjusted multiple times due to annual profit distribution plans, with the latest adjustment reducing the price to RMB 23.07 per share effective June 12, 2025 [4][5][6][7].

Core Viewpoint - The pace of convertible bond exits has accelerated significantly, with forced redemptions becoming the mainstream method of exit in the market [1][2][3]. Group 1: Market Trends - As of mid-August 2023, 91 convertible bonds have announced their exit, with 75 of these being early redemptions, surpassing the total for the entire year of 2024 [2][4]. - The number of forced redemptions in July reached 19, marking the second-highest monthly figure since 2021 [2]. - The proportion of convertible bonds exiting through forced redemptions and conversions has shifted from 96% in 2022 to 82% in 2024, while the proportion of maturity redemptions has increased to nearly 20% [3]. Group 2: Supply and Demand Dynamics - The total outstanding amount of convertible bonds as of August 17, 2023, is 646.016 billion, a decrease of 87.606 billion since the beginning of the year [4]. - The supply of convertible bonds is steadily increasing, with approvals for new issues significantly faster than last year, indicating a healthy pipeline for the remainder of the year [4]. - The "fixed income +" funds continue to play a crucial role in the demand for convertible bonds, with significant growth in fund sizes observed [4][5]. Group 3: Short-term Trading Opportunities - The convertible bond market is expected to remain active in the short term, driven by funds, but the sustainability of this trend depends on the stability of the equity market [6]. - The growth of convertible bond ETFs has become a core driver of the market, although there are concerns about potential volatility if the inflow of funds slows down [6]. - Despite the high valuations of some newly issued bonds, the overall market sentiment remains positive, supported by a "slow bull" market and the continued activity of small-cap stocks [6].