Core Viewpoint - Tianchuang Fashion announced that holders of "Tianchuang Convertible Bonds" can choose to sell their bonds at a price of RMB 100.27 per bond, including interest and tax, which may lead to potential losses for those opting for the buyback as the market price is currently higher than the buyback price [1] Summary by Category - **Company Announcement** - Tianchuang Fashion released a notice regarding the buyback option for "Tianchuang Convertible Bonds" [1] - **Market Conditions** - The closing price of "Tianchuang Convertible Bonds" is currently above the buyback price, indicating a potential loss for holders who choose to sell [1]

Core Viewpoint - Zhejiang Yitian Intelligent Kitchen Appliances Co., Ltd. has decided to terminate the fundraising investment project and permanently supplement the remaining raised funds into working capital, as approved in recent board and shareholder meetings [1][2]. Group 1 - The company held its 20th board meeting and 13th supervisory meeting on July 15, 2025, and convened the third temporary shareholders' meeting on July 31, 2025, where the proposal to terminate the fundraising investment project was approved [1]. - The company has disclosed that the remaining funds will be used to supplement working capital, which indicates a strategic shift in financial management [1]. - According to relevant regulations, the company is required to grant convertible bondholders a repurchase right within twenty trading days after the shareholders' meeting approval [1]. Group 2 - The implementation of the repurchase right for the "Yitian Convertible Bonds" will result in a suspension of the conversion of bonds into shares for a period of five trading days, from August 7, 2025, to August 13, 2025 [2]. - Trading of the "Yitian Convertible Bonds" will continue normally during the suspension period, ensuring liquidity for bondholders [2]. - The conversion rights will be restored on August 14, 2025, following the suspension period [2].

证券代码：002810 证券简称：山东赫达 公告编号：2025-059 债券代码：127088 债券简称：赫达转债 山东赫达集团股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、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： 划扣等情形，债券持有人本次回售申报业务失效。 风险提示：投资者选择回售等同于以 100.088 元/张（含息、税） 卖出持有的"赫达转债"。截至目前，"赫达转债"的收盘价格高于 本次回售价格，投资者选择回售可能会带来损失，敬请投资者注意 风险。 山东赫达集团股份有限公司（以下简称"公司"）于 2025 年 7 月 于 2025 年 7 月 23 日召开"赫达转债"2025 年第一次债券持有人会 证券代码：002810 证券简称：山东赫达 公告编号：2025-059 债券代码：127088 债券简称：赫达转债 议和 2025 年第二次临时股东大会，审议通过了《关于变更部分募集 资金用途的议案》。根据《深圳证券交易所股票上市规则》以及《山 东赫达集团股份有限公司向不特定对象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，"赫达转债"的附加回售 条款 ...

Key Points - The company announced a repurchase price of 100.22 RMB per bond, including accrued interest [1][5] - The repurchase period is set from August 12, 2025, to August 18, 2025 [1][5] - The payment date for repurchase funds is August 21, 2025 [1][5] - The repurchase is not mandatory for bondholders [1][5] - The company issued 6.94 million convertible bonds on June 23, 2022 [1][3] - A bondholder meeting will be held on August 1, 2025, to discuss the termination of a specific fundraising project and the reallocation of remaining funds to a new project [1][3] - The new project involves the construction of a 2 million square meter PDLC light control film production line [1][3] Repurchase Terms - The repurchase clause is activated due to significant changes in the use of raised funds compared to the commitments in the prospectus [2][3] - Bondholders can sell back all or part of their convertible bonds at face value plus accrued interest [3][4] - The accrued interest calculation is based on a 1.60% annual interest rate for 50 days [4][5] Repurchase Process - Bondholders must submit their repurchase requests through the Shanghai Stock Exchange trading system during the specified period [5][6] - The repurchase price includes accrued interest, totaling 100.22 RMB per bond [5][6] - The bonds will continue to trade during the repurchase period, but conversion to shares will be halted [5][6]

Core Viewpoint - The announcement details the conditions and procedures for the redemption of "Tian Chuang Convertible Bonds" (天创转债) due to the triggering of the repurchase clause, allowing bondholders to sell their bonds back to the company at a specified price during a designated period [2][5][10]. Group 1: Bond Details - The company issued 6 million convertible bonds with a total value of RMB 600 million, each with a face value of RMB 100, on June 24, 2020, with a maturity period of 6 years [3][4]. - The bond has a tiered interest rate structure, starting from 0.40% in the first year and increasing to 2.00% in the sixth year [3][4]. - The current conversion price is RMB 12.29 per share, adjusted from the initial price of RMB 12.64 due to profit distribution [4]. Group 2: Redemption Terms - The redemption price for the bonds is set at RMB 100.27 per bond, which includes accrued interest [5][9]. - The redemption period is from August 12, 2025, to August 18, 2025, with funds to be disbursed on August 21, 2025 [5][13]. - Bondholders have the option to redeem their bonds but are not obligated to do so [10][12]. Group 3: Trading and Market Impact - During the redemption period, the bonds will continue to trade but will not be convertible into shares [14]. - If the total face value of the bonds in circulation falls below RMB 30 million due to redemptions, trading will continue until the end of the redemption period [14].

Group 1 - The core viewpoint of the article is the verification opinion regarding the repurchase of "Haiyou Convertible Bonds" by Shanghai Haiyouwei New Materials Co., Ltd. [1] - The total amount of funds raised from the issuance of convertible bonds is RMB 694 million, with a net amount of RMB 691.4 million after deducting issuance costs [1][2] - The company has established a special account for the management and use of the raised funds to protect investors' rights [1] Group 2 - The repurchase clause of the "Haiyou Convertible Bonds" was triggered due to the termination of a specific fundraising project and the reallocation of remaining funds to a new project [2] - The additional repurchase clause allows bondholders to sell back their bonds at face value plus accrued interest if there are significant changes in the use of raised funds [2][3] - The repurchase period is set from August 12, 2025, to August 18, 2025, with a repurchase price of RMB 100.22 per bond [4] Group 3 - The company will continue to trade "Haiyou Convertible Bonds" during the repurchase period, but conversion to shares will be suspended [4][5] - If the total circulation value of the convertible bonds falls below RMB 30 million due to repurchases, trading will still continue until the end of the repurchase period [5] - The verification opinion from the sponsor institution confirms that the repurchase matters comply with relevant regulations and agreements [5]

Core Viewpoint - The company announces the conditional redemption terms for its convertible bonds, "长汽转债," due to the stock price falling below a specified threshold, allowing bondholders to redeem their bonds at a predetermined price [2][3]. Redemption Terms and Price - The redemption price for "长汽转债" is set at 100.20 RMB per bond, which includes accrued interest [10]. - The redemption period is from July 29, 2025, to August 4, 2025, with the payment date for redeemed bonds on August 7, 2025 [11][9]. - The company will stop the conversion of bonds during the redemption period [13]. Conditions for Redemption - The redemption clause is activated if the company's A-share stock price remains below 70% of the bond's conversion price for any consecutive thirty trading days [2][3]. - If bondholders do not exercise their redemption rights during the specified period, they will lose the opportunity to redeem for that interest year [2][3]. Interest Calculation - The interest rate for the fifth year (June 10, 2025, to June 9, 2026) is 1.5%, with the accrued interest calculated to be approximately 0.20 RMB per bond [5][4]. - The total redemption price is thus 100.20 RMB per bond, including the accrued interest [5][10]. Trading During Redemption Period - "长汽转债" will continue to trade during the redemption period but will not allow conversions [13]. - If the total face value of the bonds in circulation falls below 30 million RMB due to redemptions, trading will still continue until the end of the redemption period [13].

Core Viewpoint - The company announces the third reminder regarding the repurchase of "Zhengyuan Convertible Bond 02" (正元转 02), highlighting the potential risks for investors if they choose to sell their bonds at a price higher than the repurchase price [1][2]. Summary by Sections Repurchase Terms Overview - The repurchase rights for bondholders are activated due to significant changes in the implementation of the fundraising projects compared to the commitments made in the prospectus [1]. - Bondholders can sell their bonds at face value plus accrued interest, with the repurchase price calculated to be 100.168 CNY per bond, including tax [1][2]. Tax Implications - Individual investors and securities investment funds will have a 20% withholding tax on interest income, resulting in a net repurchase amount of 100.134 CNY per bond [2]. - Qualified foreign institutional investors (QFII and RQFII) are exempt from income tax, receiving the full repurchase amount of 100.168 CNY per bond [2]. Repurchase Procedure and Payment Method - The company must grant bondholders the right to repurchase within twenty trading days after the shareholders' meeting approves changes to the fundraising projects [2]. - The company will publish at least three announcements regarding the repurchase, including one within five trading days after the shareholders' meeting [2]. Repurchase Period Transactions and Conversion - "Zhengyuan Convertible Bond 02" will continue to trade during the repurchase period, but bondholders must follow a specific order for processing multiple requests [3]. - The conversion of bonds will be suspended during the repurchase period [3].

证券代码：601633 证券简称：长城汽车 公告编号：2025-100 转债代码：113049 转债简称：长汽转债 长城汽车股份有限公司 关于"长汽转债"可选择回售的第七次提示性公告 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法律责任。 ? 回售价格：100.20 元人民币/张（含当期利息、含税） ? 回售期：2025 年 7 月 29 日至 2025 年 8 月 4 日 ? 回售资金发放日：2025 年 8 月 7 日 ? 回售期内"长汽转债"停止转股 ? 本次回售不具有强制性 ? 本次满足回售条款而"长汽转债"持有人未在上述回售期内申报并实施 回售的，本计息年度（即 2025 年 6 月 10 日至 2026 年 6 月 9 日）不能再行 使回售权。 ? 风险提示：可转债持有人选择回售等同于以 100.20 元/张（含当期利息） 卖出持有的"长汽转债"。截至目前， "长汽转债"的收盘价格高于本次回售 价格，投资者选择回售可能会带来损失，敬请投资者注意风险。 长城汽车股份有限公司股份有限公司（以下简称"本公司"或"公司"）的 A ...

Core Viewpoint - Yubang Electric (688597) is experiencing a decline in expected net profit for the first half of 2025, primarily due to slower delivery of smart power products and a decrease in bidding prices affecting gross margins [1][3]. Performance Disclosure Highlights - Yubang Electric forecasts a net profit of 21.2 million to 25 million yuan for the first half of 2025, representing a year-on-year decrease of 35.47% to 45.28% - The non-recurring net profit is expected to be between 14.2 million and 16.8 million yuan, reflecting a year-on-year decline of 53.61% to 60.79% - The decline in performance is attributed to the slower-than-expected delivery of smart power products and a drop in bidding prices leading to reduced gross margins - Although the energy storage business shows revenue growth, some projects are operating at a loss due to low gross margins [1][3]. Company Announcements Summary - Yubang Electric announced a buyback period for "Yubang Convertible Bonds" from July 21 to July 25, 2025, with a buyback price of 100.00 yuan per bond (including current interest) - During the buyback period, the "Yubang Convertible Bonds" will stop converting into shares, and the buyback is not mandatory - The company held its third extraordinary general meeting of shareholders in 2025 and the first bondholders' meeting for "Yubang Convertible Bonds," where it approved the termination of certain fundraising project sub-items, project delays, and changes to the implementation entities and locations, triggering additional buyback clauses for the bonds [1].