Core Viewpoint - The company, Shenzhen Autel Technology Co., Ltd., has announced that its convertible bonds ("道通转债") are expected to meet the redemption conditions based on the stock price performance, which may trigger the conditional redemption clause outlined in the offering prospectus [2][10]. Group 1: Convertible Bond Issuance Overview - The company issued 12.8 million convertible bonds with a total value of 1.28 billion yuan, each with a face value of 100 yuan, approved by the China Securities Regulatory Commission [3]. - The bonds are set to mature in six years, from July 8, 2022, to July 7, 2028, and began trading on the Shanghai Stock Exchange on July 28, 2022 [3]. - The initial conversion price was set at 34.73 yuan per share, which was adjusted to 34.71 yuan per share on August 16, 2023, and further adjustments are scheduled based on annual equity distributions [3][4][5]. Group 2: Redemption Terms and Expected Trigger Conditions - The redemption terms include a mandatory redemption at 115% of the face value upon maturity and a conditional redemption if the stock price meets certain criteria during the conversion period [7][8]. - The conditional redemption can be triggered if the stock price remains at or above 130% of the conversion price for at least five trading days within a consecutive twenty-day period [8][10]. - As of January 5, 2026, the stock price has been above 28.58 yuan (130% of the current conversion price of 21.98 yuan), indicating a potential for triggering the redemption clause [10].