Summary of Key Points Core Viewpoint The announcement details the early redemption of the "Huitong Convertible Bonds" by Huitong New Materials Co., Ltd., including important dates and conditions for bondholders to take action before the bonds are redeemed and delisted. Redemption Details - Redemption registration date is set for July 24, 2025, with a redemption price of 100.633 CNY per bond [1][4] - The last trading day for the bonds will be July 21, 2025, and trading will cease from July 22, 2025 [1][6] - The last conversion date for the bonds is also July 24, 2025 [1][6] Conditions for Redemption - The redemption was triggered as the company's stock price was above 130% of the conversion price for 15 out of 30 consecutive trading days from June 13 to July 3, 2025 [2][4] - The company’s board approved the early redemption on July 3, 2025 [2] Interest Calculation - The current interest rate for the bonds is 1.00%, and the interest accrued from December 6, 2024, to July 25, 2025, is calculated to be 0.633 CNY per bond [5][4] - The total redemption price includes the face value plus accrued interest [5][4] Redemption Process - The company will notify bondholders of the redemption details before the redemption period ends [5] - On the redemption registration date, all registered bonds will be frozen, and the redemption amount will be distributed on July 25, 2025 [5][6] Tax Implications - Individual investors are subject to a 20% tax on interest income, which will be withheld by the payment agency [6][7] - For qualified foreign institutional investors, the redemption amount will be distributed without corporate income tax and value-added tax until December 31, 2025 [7] Trading and Conversion - Trading of the bonds will stop on July 22, 2025, and the bonds will be delisted from the Shanghai Stock Exchange on July 25, 2025 [6][1] - Bondholders are advised to convert or sell their bonds before the last trading day to avoid forced redemption [2][8]

New Stock Listings - Huadian New Energy (600930) listed at an issue price of 3.18 on July 16, 2025[1] - Zhongcheng Tui (300208) has 2 trading days remaining until the last trading day[1] - Tui Shi Jin Gang (600190) also has 2 trading days remaining until the last trading day[1] Abnormal Fluctuations - Huayin Power (600744) reported severe abnormal fluctuations on July 15, 2025[1] - Changcheng Military Industry (601606) announced abnormal fluctuations on July 15, 2025[1] - ST Yanzhen (603389) reported abnormal fluctuations on July 16, 2025[1] Other Notable Announcements - ST Ya Zhen (000627) reported significant fluctuations with a value of 7189 on July 16, 2025[3] - Guosheng Technology (603778) reported fluctuations with a value of 3370 on July 15, 2025[3] - ST Xin Chao (600777) reported fluctuations with a value of 1008 on July 11, 2025[3]

Core Viewpoint - The company is implementing the early redemption of its convertible bonds, "Huitong Convertible Bonds," due to the stock price meeting the redemption conditions outlined in the offering prospectus [2][4]. Redemption Details - Redemption registration date is set for July 24, 2025 [1]. - The redemption price is 100.633 CNY per bond [1][5]. - Redemption payment date is July 25, 2025 [1]. - The last trading day for the bonds is July 21, 2025 [1][6]. - The last conversion day for the bonds is also July 24, 2025 [1][6]. Conditions for Redemption - The stock price of the company has met the condition of being at least 130% of the conversion price for 15 out of the last 30 trading days from June 13 to July 3, 2025 [2][4]. - The company’s board approved the early redemption at a meeting on July 3, 2025 [2]. Interest Calculation - The interest for the current period is calculated as follows: IA = B × i × t / 365, where B is the total face value of the bonds held, i is the annual coupon rate, and t is the number of days from the last interest payment to the redemption date [3][5]. - For the current interest period (December 6, 2024, to December 5, 2025), the coupon rate is 1.00%, and the total days counted for interest is 231 [5]. Redemption Process - The company will notify bondholders of the redemption details before the redemption period ends [5]. - All bonds registered with the Shanghai Branch of China Securities Depository and Clearing Corporation will be frozen after the redemption registration date [5]. - The redemption amount will be distributed through the designated trading institutions on the redemption payment date [5][6]. Tax Implications - Individual investors are subject to a 20% tax on interest income from the bonds, which will be withheld by the payment agency [6][7]. - For qualified foreign institutional investors, the redemption amount will be distributed without withholding corporate income tax and value-added tax until December 31, 2025 [7]. Important Reminders - Bondholders are advised to convert or sell their bonds before the last trading day to avoid forced redemption at a lower price [2][8]. - The current market price of the bonds (as of July 15, 2025, at 122.916 CNY) is significantly higher than the redemption price, indicating potential losses for those who do not act in time [8].

Core Points - The report discusses the issuance of convertible bonds by Huitong New Materials Co., Ltd, with a total amount of RMB 830 million [3][5] - The bonds have a maturity period of six years, from December 6, 2022, to December 5, 2028, with a tiered interest rate structure [5][6] - The conversion period for the bonds is from June 12, 2023, to December 5, 2028, allowing bondholders to convert their bonds into A-shares [6][7] Summary by Sections Issuance Details - The convertible bonds are approved by the China Securities Regulatory Commission and are set to be listed on the Shanghai Stock Exchange [3][4] - Each bond has a face value of RMB 100, with a total issuance of 8.3 million bonds [5][6] Interest and Repayment - The interest rates are structured as follows: Year 1: 0.3%, Year 2: 0.5%, Year 3: 1.0%, Year 4: 1.5%, Year 5: 2.0%, Year 6: 3.0% [5][6] - Interest payments will be made annually, with the principal repaid at maturity [6][7] Conversion and Share Impact - As of July 9, 2025, 28,790,321 shares have been converted, representing 10.3666% of the total shares before conversion [7][8] - The remaining unconverted bond amount is RMB 395.854 million, accounting for 47.6933% of the total issuance [7][8] Company Impact - The bond issuance and conversion activities are in line with the prospectus and do not adversely affect the company's operations or debt repayment capacity [8]

Core Points - The company will redeem its convertible bonds ("会通转债") and delist them from the Shanghai Stock Exchange on July 25, 2025 [1][2][6] - The redemption price is set at 100.633 CNY per bond, which includes accrued interest [5][7] - The last trading day for the bonds is July 21, 2025, and the last conversion day is July 24, 2025 [2][6] Redemption Details - The redemption registration date is July 24, 2025, and the redemption payment date is July 25, 2025 [1][5] - The company has triggered the redemption clause as the stock price has been above 130% of the conversion price for at least 15 trading days within a 30-day period [3][4] - Investors can either convert their bonds at a conversion price of 9.06 CNY per share or redeem them at the specified price [2][8] Financial Implications - The accrued interest for the current interest year (December 6, 2024, to December 5, 2025) is calculated at a rate of 1.00%, resulting in an interest of 0.633 CNY per bond [5][7] - After tax, individual investors will receive 100.506 CNY per bond due to a 20% tax on interest income [7][8] - The company will notify bondholders of the redemption process and results through designated media [5][6]

Summary of Key Points Core Viewpoint - The announcement details the cumulative conversion of "Huitong Convertible Bonds" into shares of Huitong New Materials Co., Ltd., indicating significant shareholder engagement and the impact on the company's equity structure [1][4]. Convertible Bond Issuance Overview - The company issued 8,300,000 convertible bonds on December 6, 2022, totaling 830 million yuan, with a maturity of six years and a tiered interest rate starting from 0.30% in the first year to 3.00% in the sixth year [1][2]. Conversion Status - As of July 9, 2025, a total of 434,146,000 yuan (4,341,460 bonds) have been converted into 47,612,048 shares, representing 10.3666% of the company's total shares before conversion [1][4]. - The remaining unconverted bonds amount to 395,854,000 yuan, which is 47.6933% of the total issuance [1][4]. Share Capital Changes - The total share capital increased from 478,105,359 shares to 506,895,680 shares due to the conversion of bonds, with the number of unrestricted circulating shares rising accordingly [4]. Adjustment of Conversion Price - The initial conversion price of 9.33 yuan per share has been adjusted multiple times due to annual profit distribution, with the latest adjustment bringing it down to 9.06 yuan per share [2][3].

Summary of Key Points Core Viewpoint - The announcement details the shareholding changes of the major shareholder, Anqing Tong'an Industrial Investment Fund, which has reduced its stake in Huitong New Materials Co., Ltd. due to funding needs, impacting its ownership percentage significantly [1][2][3]. Shareholder Holding Situation - Prior to the reduction, Anqing Tong'an held 34,136,505 shares, representing 7.20% of the total share capital of the company [1][2]. - As of July 7, 2025, after the reduction, the fund's holdings decreased to 29,468,690 shares, accounting for 5.89% of the total share capital [2][3]. Reduction Plan Implementation - The reduction plan was initially disclosed on March 18, 2025, with a maximum intended reduction of 14,216,800 shares, or 3% of the total shares [1][2]. - The actual reduction was completed through centralized bidding and block trading, totaling 4,667,815 shares, which is 0.93% of the total shares [2][3]. Financial Details of the Reduction - The reduction occurred between April 2025 and July 2025, with a total amount of approximately 60.43 million yuan generated from the sales [2][3]. - The shares were sold at a price range of 12.50 to 13.11 yuan per share [2][3]. Impact of Convertible Bonds - The reduction in shareholding percentage was also influenced by the dilution effect from the conversion of convertible bonds, which increased the total share capital of the company [3][4]. Compliance and Governance - The company confirmed that the changes in shareholding do not significantly affect its governance structure or ongoing operations [4][5].

Group 1 - The China Convertible Bond Index opened up by 0.04% [1] - Electric Chemical Convertible Bonds and Anke Convertible Bonds surged by 30%, triggering a trading halt [1] - Several other convertible bonds, including Saili Convertible Bonds and Tianyang Convertible Bonds, saw increases of nearly 8% and 5% respectively [1] Group 2 - Jingao Convertible Bonds and Beilu Convertible Bonds rose over 3% [1] - On the downside, Jinguan Convertible Bonds fell by over 5%, while Yong'an Convertible Bonds and Huitong Convertible Bonds dropped by over 4% and 2.7% respectively [1]

Summary of Key Points Core Viewpoint - The company, Huitong New Materials Co., Ltd., has decided to exercise its right for early redemption of its convertible bonds, known as "Huitong Convertible Bonds," following the fulfillment of specific conditions outlined in the bond's terms [1][6]. Group 1: Convertible Bond Issuance Overview - The company issued 8,300,000 convertible bonds on December 6, 2022, with a total value of RMB 830 million, each with a face value of RMB 100 [1][2]. - The bonds are set to mature six years from the issuance date, specifically on December 5, 2028 [1]. Group 2: Conversion Price Adjustments - The conversion price for the bonds was adjusted from RMB 9.33 per share to RMB 9.31 per share on August 2, 2023, due to the company's annual equity distribution [2][3]. - Further adjustments are scheduled, with the conversion price expected to decrease to RMB 9.21 per share on June 28, 2024, and to RMB 9.06 per share on June 26, 2025, following subsequent equity distributions [3][4]. Group 3: Redemption Terms and Conditions - The redemption terms allow the company to redeem the bonds if the stock price exceeds 130% of the conversion price for at least 15 trading days within a 30-day period or if the remaining unconverted bonds are less than RMB 30 million [4][5]. - The company has confirmed that the conditions for early redemption have been met, as the stock price was above the required threshold during the specified periods [5][6]. Group 4: Decision on Early Redemption - The company's board of directors approved the early redemption of the "Huitong Convertible Bonds" on July 3, 2025, following the fulfillment of the redemption conditions [6][7]. - The company will issue a formal announcement detailing the redemption procedures, pricing, payment methods, and timelines [6]. Group 5: Sponsor's Opinion - The sponsor, CITIC Securities, has reviewed the early redemption decision and confirmed that it complies with relevant regulations and the company's bond issuance prospectus [6][7].

Group 1 - The core viewpoint of the article discusses various corporate actions related to convertible bonds and stock holdings, including proposals for adjustments and planned reductions in production [1] Group 2 - Jing'ao Convertible Bond: The board proposed a down adjustment [1] - Qizhuang Convertible Bond and Huitong Convertible Bond: Strong redemption [1] - Weitang Industrial: The controlling shareholder and concerted parties plan to reduce their holdings by no more than 1.95% of the company's shares [1] - Xianle Health: Shareholders plan to reduce their holdings by no more than 1.47% of the company's shares [1] - Wankai New Materials: The company plans to orderly reduce PET production and conduct equipment maintenance during the reduction period [1] - Lezhi Convertible Bond, Meijin Convertible Bond, Wentai Convertible Bond: No down adjustment [1] - Dianhua Convertible Bond and Anke Convertible Bond: Listed [1] - Jizhi Convertible Bond: No strong redemption [1] - US stock market: Closed [1]