Core Points - The company announced an adjustment to the conversion price of its convertible bonds, reducing it from 168.11 yuan per share to 129.00 yuan per share, effective from June 16, 2025 [1][6] - The adjustment is based on the company's profit distribution plan approved at the 2024 annual shareholders' meeting, which includes a cash dividend distribution and a stock increase [2][4] - The cash dividend per share is set at 0.44957 yuan, and the stock increase ratio is 0.29971 shares per share [5] Summary by Sections Conversion Price Adjustment Basis - The adjustment of the conversion price is in accordance with the company's profit distribution plan, which was approved during the 2024 annual shareholders' meeting [2] - The plan involves a cash dividend distribution and a stock increase, which necessitates the adjustment of the conversion price for the convertible bonds [4] Conversion Price Adjustment Details - The formula for adjusting the conversion price is defined in the prospectus, taking into account cash dividends and stock increases [4] - The new conversion price is calculated as P1 = (P0 - D) / (1 + n), where P0 is the previous conversion price, D is the cash dividend per share, and n is the stock increase ratio [5] - The final adjusted conversion price is approximately 129.00 yuan per share, effective from June 16, 2025 [6] Other Information - Investors seeking more details about the convertible bonds can refer to the prospectus disclosed on the Shanghai Stock Exchange website [6]

二、董事会会议审议情况 证券代码：002120 证券简称：韵达股份 公告编号：2025-036 债券代码：127085 债券简称：韵达转债 韵达控股集团股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 韵达控股集团股份有限公司（以下简称"公司"）第八届董事会第十九次会 议于 2025 年 5 月 30 日以电子邮件和书面方式通知各位董事，会议于 2025 年 6 月 5 日召开，本次会议以通讯表决的方式进行。会议应出席的董事 8 人，实际出 席的董事 8 人。会议由董事长聂腾云先生召集，本次会议的出席人数、召集、召 开程序和审议内容均符合《中华人民共和国公司法》等有关法律、行政法规、部 门性规章、规范性文件及《韵达控股集团股份有限公司章程》等有关规定。 债转股价格的议案》。 交易日中至少十五个交易日的收盘价低于当期转股价格 85.00%的情形，触发"韵 达转债"转股价格向下修正条件。公司董事会决定本次不向下修正"韵达转债" 的转股价格，且在未来六个月内，如再次触发"韵达转债"转股价格向下修正条 款，亦不提出向下修正方案。 具 ...

Group 1 - The company will stop the conversion of "New 23 Convertible Bonds" from June 11, 2025, until the equity registration date due to the implementation of the 2024 annual profit distribution [1][2] - The profit distribution plan includes a cash dividend of 3.00 yuan (including tax) for every 10 shares held, with no capital reserve fund conversion or bonus shares issued [1][2] - Holders of the convertible bonds can convert their bonds into shares until June 10, 2025, to enjoy the profit distribution [2] Group 2 - The company assures that the announcement contains no false records, misleading statements, or significant omissions, and takes legal responsibility for its authenticity, accuracy, and completeness [1] - The company will adjust the total cash distribution amount if there are changes in the total share capital before the equity registration date, while maintaining the cash distribution per share [1] - The resumption of the bond conversion will occur on the first trading day after the equity registration date [2]

证券代码：601229 证券简称：上海银行 公告编号：临 2025-031 优先股代码：360029 优先股简称：上银优 1 可转债代码：113042 可转债简称：上银转债 上海银行股份有限公司 关于根据 2024 年度利润分配方案 调整 A 股可转换公司债券转股价格的公告 ? 调整前转股价格：人民币 9.09 元/股 ? 调整后转股价格：人民币 8.87 元/股 ? 本次转股价格调整实施日期：2025 年 6 月 12 日 ? 证券停复牌情况：适用 因实施 2024 年度普通股权益分派,公司的相关证券停复牌情况如下： 停牌 停牌 起始日 期间 证券代码 证券简称 停复牌类型 停牌终止日 复牌日 上海银行股份有限公司（以下简称"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。 重要内容提示： 配方案，决定以届时实施权益分派股权登记日登记的普通股总股本为基数，向登 记在册的全体普通股股东每 10 股派发现金股利 2.20 元（含税）。2024 年度，公 司不实施资本公积金转增股本方案。本次权益分派具体实施情况详见同日发布于 上 ...

Core Viewpoint - The company announces a temporary suspension of the conversion of its convertible bonds, effective from June 9, 2025, until the equity registration date for the 2024 annual equity distribution, to ensure the smooth implementation of the distribution [1] Group 1: Convertible Bonds Information - The convertible bonds (code: 123214; name: Dongbao Convertible Bonds) will be suspended for conversion during the specified period but will continue to trade normally [1] - The company will adjust the conversion price of the bonds in the event of stock dividends, capital increases, new share issuances, rights issues, or cash dividends, following a specific formula [1][2] - The adjustment formulas for the conversion price are detailed, including variables for stock dividends, new share prices, and cash dividends [1] Group 2: Price Adjustment Procedures - The company will publish announcements regarding the adjustment of the conversion price on the Shenzhen Stock Exchange website or other designated media, including the adjustment date and method [2] - In cases of share buybacks, mergers, splits, or other events affecting share categories or quantities, the company will adjust the conversion price to protect the rights of bondholders [2]

Core Viewpoint - The report discusses the adjustment of the conversion prices for the convertible bonds "Wei 22" and "Wei 24" issued by Zhejiang Weiming Environmental Co., Ltd, highlighting the impact of profit distribution on these adjustments [1][2][6]. Group 1: Convertible Bond Basic Information - "Wei 22" convertible bonds were issued on July 22, 2022, with a total of 14.77 million bonds and a total issuance amount of 1,477 million yuan. The bonds have a maturity of 6 years and a coupon rate that increases from 0.20% in the first year to 2.00% in the sixth year [1][2]. - "Wei 24" convertible bonds were issued on March 28, 2024, with a total of 2.85 million bonds and a total issuance amount of 285 million yuan, also with a similar coupon rate structure as "Wei 22" [4][5]. Group 2: Conversion Price Adjustments - The initial conversion price for "Wei 22" was set at 32.85 yuan per share, which has been adjusted to 27.75 yuan per share due to profit distribution adjustments [2][3]. - The initial conversion price for "Wei 24" was set at 18.28 yuan per share, which has been adjusted to 18.03 yuan per share following the company's profit distribution plan [5][6]. - The conversion prices for both bonds will be further adjusted due to the company's 2024 annual profit distribution plan, with "Wei 22" adjusted to 27.27 yuan per share and "Wei 24" adjusted to 17.55 yuan per share, effective from June 6, 2025 [7]. Group 3: Impact Analysis - The adjustments to the conversion prices for "Wei 22" and "Wei 24" are in accordance with the terms outlined in their respective prospectuses and do not adversely affect the company's daily operations or debt repayment capabilities [8].

Group 1 - The banking sector has seen a significant trend of convertible bonds being converted into shares since the second quarter, with Nanjing Bank and Hangzhou Bank being notable examples [1][2] - The strong performance of bank stocks has created favorable conditions for the conversion of convertible bonds, with several banks triggering redemption clauses [2][5] - Analysts predict that approximately 100 billion yuan of bank convertible bonds may complete conversion this year, leading to a reduction in the overall market size [4][5] Group 2 - The acceleration of convertible bond conversions poses challenges for bank wealth management subsidiaries and fund companies, as the scarcity of convertible bonds increases the difficulty of asset allocation [3] - The market currently has around 10 bank convertible bonds, with predictions that the total market size may shrink to about 100 billion yuan as several bonds complete conversion or reach maturity [5][6] - There are ongoing developments in the issuance of new convertible bonds, with banks like Changsha Bank and Minsheng Bank having their applications accepted for new issuances [6]

Core Viewpoint - The approval of AIC licenses for major joint-stock banks marks the beginning of a new competitive era in the financial asset investment company sector, with three major players: Industrial Bank, CITIC Bank, and the upcoming China Merchants Bank, collectively holding a registered capital of 35 billion yuan [2][3]. Group 1: Company Developments - CITIC Bank has received approval from the National Financial Regulatory Administration to establish CITIC Financial Asset Investment Co., with a registered capital of 10 billion yuan, focusing on market-oriented debt-to-equity swaps and equity investment [2]. - Industrial Bank was the first joint-stock bank to obtain an AIC license on May 7, 2023, indicating a rapid expansion of joint-stock banks in this sector [3]. - China Merchants Bank plans to invest 15 billion yuan to establish its AIC, contributing to the competitive landscape among joint-stock banks [3]. Group 2: Market Dynamics - The establishment of AICs by joint-stock banks reflects regulatory support for diversified banking services aimed at supporting the real economy, indicating a shift in the competitive landscape previously dominated by state-owned banks [3][5]. - AICs are expected to focus on specific sectors such as technology finance and green industries, creating differentiated competition with state-owned banks [5][6]. - The initial scale of registered capital for joint-stock banks' AICs is comparable to that of state-owned banks, which may help them meet regulatory capital requirements while allowing for future business expansion [5]. Group 3: Business Strategy and Challenges - Both Industrial Bank and CITIC Bank aim to serve national strategic priorities, with a focus on supporting innovative and private enterprises through financial backing [6]. - The profitability of AICs remains a challenge due to the long project cycles and limited exit channels associated with debt-to-equity swaps, necessitating a balance between policy objectives and market returns [6][7]. - The competitive landscape is expected to intensify as joint-stock banks seek to leverage their flexible operational mechanisms and innovative service models to carve out their market positions [7].

据不完全统计，近期出险房企债务重组或重整的进程加快。其中，金科重整获法院批准；旭辉、融创等 房企境外债重组已基本获债权人通过；龙光、旭辉发布债务重组方案，力图推进债务优化工作。 自5月以来，房企债务重组持续释放积极信号，多家房企的债务重组进程取得积极进展。与此同时，多 地房地产市场成交回暖，房企融资也呈现出回暖趋势。 克而瑞数据显示，从债务到期情况来看，2024年房企债到期规模4828亿元，2025年债务到期更是达5257 亿元。在业内人士看来，鉴于今年仍是房企债务集中到期的时间点，预计房企化债工作在2025年将会进 一步提速。值得注意的是，债转股正在成为越来越多房企债务重组的主要方式之一。过去，房企债务重 组多以展期为主要手段，试图以时间换空间缓解资金压力。然而，在新一轮债务重组进程中，房企化债 策略也出现转变，折价赎回债券、强制转股等全面削债方式正逐渐取代传统展期方案。 近段时间以来，多地房地产市场成交回暖，房企融资也呈现出回暖趋势。中指研究院的最新监测数据显 示，今年5月，房地产企业债券融资总额为288.8亿元，同比增长23.5%。受上年低基数效应影响，5月单 月融资总额同比增长。从融资结构来看，房地产 ...

证券代码：002120 证券简称：韵达股份 公告编号：2025-035 债券代码：127085 债券简称：韵达转债 韵达控股集团股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、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：127085 债券简称：韵达转债 调整前"韵达转债"转股价格：人民币11.93元/股 调整后"韵达转债"转股价格：人民币11.73元/股 转股价格调整生效日期：2025年6月12日 一、关于可转换公司债券转股价格调整的相关规定 韵达控股集团股份有限公司（以下简称"公司"）于2023年4月11日向不特 定对象发行了2,450.00万张可转换公司债券（债券简称：韵达转债，债券代码： 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，本 次发行后，若公司发生派送红股、转增股本、增发新股（不包括因本次发行的可 转换公司债券转股而增加的股本）、配股以及派发现金股利等情况时，公司将按 上述条件出现的先后顺序，依次对转股价格进行累积调整，具体调整办法如下： 假设调整前转股价为Po，每股送股或转增股本率为N，每股增发新股或配股 率为K，增发新股价或配 ...