Summary of Key Points Group 1: Convertible Bond Issuance - The company issued a total of 26,971,000 CNY in convertible bonds on August 19, 2024, with a face value of 100 CNY per bond, totaling 2,697,100 bonds [1] - The net proceeds from the issuance, after deducting issuance costs of 7,074,189.65 CNY, amounted to 262,635,810.35 CNY [1] Group 2: Listing and Conversion Details - The convertible bonds, named "伟隆转债" (Wei Long Convertible Bonds), were listed on the Shenzhen Stock Exchange starting August 28, 2024 [2] - The initial conversion price was set at 8.60 CNY per share, which will be adjusted to 8.26 CNY per share effective May 29, 2025, due to the company's profit distribution plan [2] Group 3: Redemption Conditions - The company has the right to redeem the bonds if the stock price exceeds 10.74 CNY (130% of the conversion price) for 15 consecutive trading days, which has been triggered [3] - The redemption price is set at 100.485 CNY per bond, including accrued interest, with the interest calculated based on a 0.5% annual rate [4][5] Group 4: Redemption Implementation - As of July 31, 2025, there were 8,919 bonds remaining unconverted, and the total redemption amount will be 896,225.71 CNY [5] - The bonds will be delisted from the Shenzhen Stock Exchange on August 11, 2025, following the redemption [6] Group 5: Impact on Share Capital - The total share capital increased by 32,542,158 shares due to the conversion of the bonds, which may dilute earnings per share in the short term [5][7] - The updated share structure reflects the changes post-redemption, with a significant portion of shares now being unrestricted [7]

Group 1 - The company issued convertible bonds totaling RMB 269.71 million, with a face value of RMB 100 per bond, on August 19, 2024 [1] - The bonds will be listed on the Shenzhen Stock Exchange starting August 28, 2024, under the name "伟隆转债" and code "127106" [2] - The initial conversion price for the bonds is set at RMB 8.60 per share, which will be adjusted to RMB 8.26 per share effective May 29, 2025 [2] Group 2 - The company has a conditional redemption clause for the bonds, which can be triggered if the stock price exceeds 130% of the conversion price for 15 consecutive trading days [3] - The redemption price is calculated to be RMB 100.485 per bond, including accrued interest [4][5] - The total amount to be paid for the redemption of 8,919 bonds is RMB 896,225.71, excluding redemption fees [5] Group 3 - Following the redemption, the bonds will be delisted from the Shenzhen Stock Exchange on August 11, 2025, as there will be no remaining bonds in circulation [6]

New Stock Issuance - Guangdong JianKe issued new shares at a price of 6.56 on August 1, 2025[1] - ShenKe Co., Ltd. has a tender offer period from July 29 to August 27, 2025[1] - ST Kelly's tender offer period is from July 17 to August 15, 2025[1] Market Alerts - ST Zitian reported significant abnormal fluctuations on July 21, 2025[1] - ST Suwu experienced abnormal fluctuations on July 30, 2025[1] - ST Xizang Tianlu reported significant abnormal fluctuations on August 1, 2025[1] Other Notable Announcements - Huaneng Electric's announcement was made on August 1, 2025, regarding its stock code 603063[1] - ST Sai Long's announcement was made on August 1, 2025, with stock code 002898[1] - ST Green Kang's announcement was made on July 31, 2025, with stock code 002868[1]

Core Viewpoint - Qingdao Weilon Valve Co., Ltd. is set to stop the conversion of its convertible bonds ("Weilon Convertible Bonds") and redeem them at a price of 100.485 CNY per bond after the market closes on July 31, 2025, which may lead to potential losses for investors who do not convert their bonds in time [1][2][3]. Group 1: Convertible Bond Details - The total amount of the convertible bonds issued was 269.71 million CNY, with a face value of 100 CNY per bond, and a total of 2,697,100 bonds issued [2][3]. - The initial conversion price was set at 8.60 CNY per share, which was later adjusted to 8.26 CNY per share effective from May 29, 2025 [4][5]. - The redemption of the convertible bonds was triggered as the stock price had been above 10.74 CNY (130% of the conversion price) for fifteen trading days [4][5]. Group 2: Redemption Process - The redemption price is calculated to be 100.485 CNY per bond, which includes accrued interest [6][7]. - The redemption will be executed for all unconverted bonds as of the close of trading on July 31, 2025, and the bonds will be delisted from the Shenzhen Stock Exchange thereafter [2][7]. - Holders of the convertible bonds must process their conversion through the securities company that holds their bonds, with a minimum conversion unit of 1 bond [8][9].

Group 1 - Shenglan Co., Ltd. has received approval from the China Securities Regulatory Commission for the issuance of convertible bonds to unspecified objects [1] - Yipin Hong's wholly-owned subsidiary, Guangzhou Yipin Pharmaceutical, has obtained the registration certificate for Compound Polyethylene Glycol Electrolyte Powder (III), qualifying it to sell this specification of drug in the domestic market [1] - Zhejiang Jiaokao disclosed its second-quarter construction industry operating situation, reporting that its subsidiary, Zhejiang Jiaogong, won and signed 207 new projects in the second quarter, amounting to 4.783 billion yuan; for the first half of the year, a total of 539 new projects were won and signed, totaling 21.355 billion yuan [1] Group 2 - Weilon Co., Ltd. is approaching the final half trading day before the "Weilon Convertible Bonds" stop conversion and redemption; after the market closes on July 31, unconverted "Weilon Convertible Bonds" will cease conversion, and the remaining convertible bonds will be forcibly redeemed at a price of 100.485 yuan per bond, which may result in losses for investors [1]

Group 1 - The company has announced the early redemption of its convertible bonds, "伟隆转债," with the last conversion date set for July 31, 2025 [1][2][4] - The initial conversion price of the bonds was adjusted from RMB 8.60 to RMB 8.26 per share, effective from May 29, 2025 [3][4] - The total amount of convertible bonds issued was RMB 269.71 million, with a net amount of RMB 262.64 million after deducting issuance costs [2][3] Group 2 - The company’s board of directors approved the early redemption of the bonds on July 7, 2025, based on market conditions and the company's situation [2][4] - The redemption price is set at RMB 100.485 per bond, which includes accrued interest [6][7] - The bonds will be delisted from the Shenzhen Stock Exchange after the redemption is completed [1][7] Group 3 - Holders of the convertible bonds must convert their bonds through the securities company that holds the bonds before the deadline [8] - The minimum conversion unit for the bonds is one bond, and any remaining balance that cannot be converted will be paid in cash [8][9] - The company has not received any plans for the major shareholders to reduce their holdings in the bonds within the next six months [8]

Core Points - The announcement details a passive dilution of shareholding percentages for the controlling shareholder and related parties of Qingdao Weilon Valve Co., Ltd. due to the conversion of convertible bonds into shares [1] - The total share capital of the company increased from 243,891,027 shares to 251,062,971 shares as a result of the conversion, with a total of 31,751,284 shares converted during the specified period [1] - The controlling shareholder, Fan Qingwei, and his concerted actors maintained their total shareholding quantity, but their combined holding percentage decreased from 57.97% to 56.32%, reflecting a dilution of 1.65% [1] Summary by Sections Basic Information - The announcement is made by Qingdao Weilon Valve Co., Ltd. regarding the passive dilution of shareholding percentages of its controlling shareholder and related parties [1] - The equity change occurred between July 23, 2025, and July 29, 2025 [1] Equity Change Details - The shareholding percentage of Fan Qingwei and his concerted parties was diluted from 57.97% to 56.32% due to the conversion of convertible bonds [1] - The total number of shares held by these shareholders remained unchanged [1] Shareholding Structure Before and After - Before the equity change, Fan Qingwei held 122,460,000 shares (50.21%), which decreased to 122,460,000 shares (48.78%) after the change [2] - Qingdao Huilong Enterprise Management Co., Ltd. held 10,756,980 shares (4.41%) before the change, which decreased to 4.28% after the change [2] - Fan Yulong's shareholding decreased from 3.35% to 3.25% [2]

Group 1 - The last trading day for Quan Feng convertible bonds is July 24, along with other convertible bonds such as Jing Zhuang, Heng Hui, Wei Long, and Bei Lu [1] - Industry insiders believe that without a significant increase in new bond supply, the scale of the convertible bond market may gradually shrink to below 600 billion yuan in the second half of the year [1] - Looking ahead, the convertible bond market is expected to continue to rise due to the support from underlying stocks and the influx of new capital [1]

Core Viewpoint - The convertible bond market is expected to gradually shrink to below 600 billion yuan in the second half of the year due to a lack of new issuance, despite potential positive market movements driven by underlying stocks and new capital inflows [1][2][3]. Group 1: Market Trends - The last trading day for several convertible bonds, including Quan Feng Convertible Bond, is approaching, with significant losses for investors who do not act in time [1][2]. - As of July 24, the total outstanding amount of convertible bonds in the market is 659.085 billion yuan, a decrease of 74.537 billion yuan since the beginning of the year [3]. - The China Convertible Bond Index rose by 0.79% on July 24, with a cumulative increase of 4.37% since July [3]. Group 2: Redemption and Investor Actions - Quan Feng Convertible Bond will be forcibly redeemed at a price of 101.3110 yuan per bond if investors do not convert their bonds by the deadline, leading to potential losses exceeding 13% for those who fail to act [1][2]. - Other convertible bonds, such as Jingzhuang, Henghui, Weilon, and Beilu, will also face redemption soon, with potential losses ranging from approximately 19.97% to 32.67% for investors who do not sell or convert in time [2]. - New regulations have introduced a "Z" identifier for the last trading day of convertible bonds to alert investors to the associated risks [2]. Group 3: Future Outlook - Analysts predict that the convertible bond market will see accelerated exits in the second half of the year, with a focus on high-quality existing bonds and mid-to-large market cap new issuances [2][3]. - There is an increasing opportunity for downshift speculation as the remaining maturity of convertible bonds is decreasing, with expectations of over 100 bonds maturing by the end of 2026 [3]. - Positive feedback mechanisms are forming in the equity market, which may support the convertible bond market's upward movement [4].

Group 1 - The total amount of shares converted from the "Weilong Convertible Bonds" has reached 23,052,933 shares, accounting for 10.51% of the company's total issued shares before conversion, which is 219,311,687 shares [1][3] - The company issued a total of 2,697,100 "Weilong Convertible Bonds" with a face value of 100 RMB each, raising a total of 269.71 million RMB, after deducting issuance costs of approximately 7.07 million RMB, the net amount raised is about 262.64 million RMB [1][2] - The initial conversion price for the bonds was set at 8.60 RMB per share, which will be adjusted to 8.26 RMB per share effective from May 29, 2025, due to the company's 2024 profit distribution plan [2][3] Group 2 - The "Weilong Convertible Bonds" began their conversion period on February 19, 2025, and as of July 22, 2025, a total of 1,904,328 bonds have been converted into company stock [2][3] - As of July 22, 2025, there are still 792,772 "Weilong Convertible Bonds" that have not been converted, which represents 29.39% of the total issued bonds [3]