Core Viewpoint - The company, Xtep International (01368), announced plans to repurchase its 2025 convertible bonds and issue new convertible bonds to extend its debt maturity structure and enhance its capital base [1] Group 1: Bond Repurchase - The company or its subsidiaries may purchase the 2025 convertible bonds at any price in the open market or other means, as per the terms of the bonds [1] - A transaction agent has been appointed to assist in the repurchase process, including collecting expressions of interest from bondholders willing to sell [1] Group 2: New Bond Issuance - The company plans to issue convertible bonds to institutional investors, with an agent coordinating the pricing of the bond issuance [1] - The final terms of the bond issuance, including size and pricing, will be established before signing a subscription agreement with the agent [1] Group 3: Strategic Benefits - The board believes that the repurchase and issuance of bonds will extend the debt maturity structure and provide additional funding at a lower cost for the repurchase, with the remainder for general corporate purposes [1] - The proposed bond issuance will not cause immediate dilution of existing shareholders' equity and will strengthen the company's capital base, promoting long-term development when the bonds convert into new shares [1]