Core Points - The company Shanghai Bairun Investment Holding Group Co., Ltd. will pay the fourth-year interest on its convertible bonds on September 29, 2025, at a rate of 1.5% [2][10] - The interest payment will be RMB 15.00 per 10 bonds (face value of RMB 1,000), which is subject to a 20% withholding tax for individual investors [10][13] - The bond's credit rating remains stable at AA, as assessed by United Ratings [8][9] Summary by Sections Bond Payment Details - The bond code is 127046, and the total issuance is 1,128 million RMB (11.28 million bonds) [3][4] - The interest payment date is September 29, 2025, with a record date of September 26, 2025 [2][14] - The interest rates for the bond are structured to increase over the years, starting from 0.3% in the first year to 2.0% in the sixth year [4][10] Tax Implications - Individual bondholders will have a 20% tax withheld on interest payments, resulting in a net payment of RMB 12.00 per 10 bonds [10][13] - Qualified foreign institutional investors (QFII and RQFII) are exempt from corporate income tax and value-added tax on interest income [10][15] Bond Characteristics - The bonds were issued on September 29, 2021, and will mature on September 28, 2027 [3][4] - The bonds are listed on the Shenzhen Stock Exchange and do not have any guarantees [8]

Core Viewpoint - The company announces the payment of the fifth-year interest for its convertible bonds, "Kehua Convertible Bonds," scheduled for July 28, 2025, with a face value interest payment of 15.00 RMB per 10 bonds [1][2][4]. Summary by Sections Basic Information of "Kehua Convertible Bonds" - The fifth-year interest payment period is from July 28, 2024, to July 27, 2025, with a coupon rate of 1.50% [2][4]. - The total number of convertible bonds issued is 7.38 million, with a face value of 1,000 RMB each [1][2]. Interest Payment Calculation - The annual interest is calculated using the formula: I = B × i, where I is the annual interest amount, B is the total face value of the bonds held, and i is the coupon rate for the year [2][3]. - The interest payment method is annual, with the first interest payment starting from the bond issuance date [2][3]. Payment Dates and Taxation - The bondholder registration date for interest payment is July 25, 2025, and the interest will be paid within five trading days after the payment date [3][4]. - Individual bondholders are subject to a 20% withholding tax on interest income, which will be deducted by the payment agency [4][5]. Payment Method - The company will entrust China Securities Depository and Clearing Corporation Limited (Shenzhen Branch) to handle the interest payment, which will be distributed to the designated securities firms or recognized institutions [5][6]. Tax Exemption for Non-Resident Enterprises - Non-resident enterprises (including QFII and RQFII) are temporarily exempt from corporate income tax on the interest earned from these bonds, effective from November 7, 2021, until 2025 [6].

Summary of Key Points Core Viewpoint - The announcement details the interest payment for the convertible bonds "北港转债" issued by Beibu Gulf Port Co., Ltd., highlighting the interest rates and payment schedule for investors [1][4]. Group 1: Bond Details - The "北港转债" has a face value of 1,000 RMB per bond, with an interest payment of 15.00 RMB for every 10 bonds held, inclusive of tax [1][4]. - The interest rates for the subsequent years are set at 1.00% for the third year, 1.50% for the fourth year, 1.80% for the fifth year, and 2.00% for the sixth year [1][4]. Group 2: Interest Payment Schedule - The interest payment period for this announcement is from June 29, 2024, to June 28, 2025, with the payment date scheduled for June 30, 2025, due to the previous day being a holiday [4][5]. - Investors who purchase and hold the bonds until June 27, 2025, will be eligible for the interest payment, while those selling before this date will not receive the interest [1][5]. Group 3: Tax Implications - Individual bondholders are subject to a 20% withholding tax on interest income, which will be deducted by the payment agency [4][6]. - Qualified foreign institutional investors (QFII and RQFII) are exempt from corporate income tax and value-added tax on the interest income from these bonds until December 31, 2025 [6][4]. Group 4: Payment Process - The company will entrust China Securities Depository and Clearing Corporation Limited to handle the interest payments, which will be distributed to the designated accounts of bondholders [5][6]. - The payment will be made within five trading days following the interest payment date [2][5].