证券代码：603568 证券简称：伟明环保 公告编号：临2025-063 转债代码：113652 转债简称：伟22转债 转债代码：113683 转债简称：伟24转债 浙江伟明环保股份有限公司可转债转股结果暨股份变动公告 公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的 真实性、准确性和完整性承担法律责任。 重要内容提示: ● 累计转股情况：截至2025年9月30日，累计已有人民币181,000元"伟22转债"转换为浙江伟明环保股份 有限公司（以下简称"公司"）A股普通股，累计转股数为5,662股，占"伟22转债"转股前公司已发行普通 股股份总额的0.00033%；累计已有人民币258,000元"伟24转债"转换为公司A股普通股，累计转股数为 14,312股，占"伟24转债"转股前公司已发行普通股股份总额的0.00084%。 ● 未转股可转债情况：截至2025年9月30日，尚未转股的"伟22转债"金额为人民币1,476,819,000元， 占"伟22转债"发行总量的比例为99.98775%；尚未转股的"伟24转债"金额为人民币284,742,000元，占"伟 24转债" ...

Core Viewpoint - The announcement from Zhejiang Weiming Environmental Co., Ltd. corrects the date of a significant equity change involving major shareholders, indicating a reduction in their combined shareholding from 74.84% to 70.00% due to various trading activities and the impact of convertible bonds [1][3][4]. Summary by Sections Equity Change Notification - The initial notification regarding the equity change mistakenly stated the start date as May 9, 2022, which has been corrected to May 9, 2020 [1][3]. - The equity change period is from May 9, 2020, to September 18, 2025, during which major shareholders reduced their holdings through various trading methods [3][4]. - The combined shareholding of major shareholders decreased from 74.84% to 70.00%, triggering a 5% threshold change [4]. Convertible Bonds Impact - The company issued 12 million convertible bonds (referred to as "Wei 20 Convertible Bonds") on November 2, 2020, with a total value of 120 million yuan [4]. - The bonds entered the conversion period on May 6, 2021, and were fully redeemed on December 6, 2021, leading to an increase in the total share capital by 46,698,549 shares [4]. - The conversion of these bonds resulted in a passive decrease in the shareholding percentage of the information disclosure obligors [4]. Employee Stock Ownership Plan Extension - The board approved an extension of the 2021 employee stock ownership plan by an additional 24 months, now set to expire on December 5, 2027 [6][11]. - The original duration of the plan was 24 months, from December 6, 2021, to December 5, 2023 [7]. - As of the announcement date, the employee stock ownership plan holds 13,789,772 shares, representing 0.81% of the current total share capital [9][11].

Core Viewpoint - Zhejiang Weiming Environmental Protection Co., Ltd. has decided not to exercise the downward adjustment of the conversion price for the "Wei 22 Convertible Bond" despite triggering the conditions for such an adjustment due to stock price performance [2][8]. Group 1: Convertible Bond Details - The "Wei 22 Convertible Bond" was issued on July 22, 2022, with a total amount of 1,477,000 bonds, each with a face value of 100 yuan, totaling 1,477 million yuan [3]. - The bond has a term of 6 years with a tiered interest rate starting from 0.20% in the first year to 2.00% in the sixth year [3]. - The initial conversion price was set at 32.85 yuan per share, which has been adjusted multiple times, with the latest price being 27.27 yuan per share [3][5]. Group 2: Downward Adjustment Conditions - The downward adjustment clause is triggered when the stock price closes below 90% of the conversion price for at least 15 out of 30 consecutive trading days [6]. - The company’s board of directors has the authority to propose a downward adjustment, which requires a two-thirds majority approval from shareholders [6][7]. Group 3: Recent Board Decision - On September 2, 2025, the board held a meeting and unanimously decided not to adjust the conversion price downward, considering various factors including the company's fundamentals and market conditions [2][8]. - The decision was made with 6 votes in favor and no opposition, with certain related directors abstaining from the vote [8].

Core Viewpoint - The article discusses the status of various convertible bonds, indicating whether they will be forcibly redeemed or adjusted, with specific focus on the "鹤21转债," "伟22转债," and "百畅转债" [1][2]. Summary by Relevant Sections Convertible Bonds Status - "鹤21转债" will not be forcibly redeemed, with a last trading date set for September 3, 2025 [2]. - "伟22转债" will not undergo a downward adjustment, also announced on September 3, 2025 [2]. - "百畅转债" will not undergo a downward adjustment, with the announcement made on September 2, 2025 [2]. Convertible Bonds Pricing and Trading Information - "奇正转债" current price is 145.298, with a strong redemption price of 101.701, and a last trading date of August 28, 2025 [4]. - "Z东材转" current price is 142.667, strong redemption price of 100.805, last trading date on September 2, 2025 [4]. - "Z电转债" current price is 149.750, strong redemption price of 101.830, last trading date on September 2, 2025 [4]. - "Z测转债" current price is 139.750, strong redemption price of 100.420, last trading date on September 2, 2025 [4]. - "高测转债" current price is 151.730, strong redemption price of 100.174, last trading date on September 3, 2025 [4]. - "设研转债" current price is 112.531, strong redemption price of 101.250, last trading date on September 8, 2025 [4]. - "荣泰转债" current price is 170.922, strong redemption price of 102.171, last trading date on September 8, 2025 [4]. - "崇达转2" current price is 153.900, strong redemption price of 100.049, last trading date on September 11, 2025 [4]. - "华宏转债" current price is 142.359, strong redemption price of 100.790, last trading date on September 11, 2025 [4]. - "大元转债" current price is 225.981, strong redemption price of 100.784, last trading date on September 11, 2025 [4]. - "药石转债" current price is 131.151, strong redemption price of 100.620, last trading date on September 12, 2025 [4]. - "正海转债" current price is 138.331, strong redemption price of 100.500, last trading date on September 16, 2025 [4]. - "西子转债" current price is 121.200, strong redemption price of 101.120, last trading date on September 16, 2025 [4]. - "交建转债" current price is 150.500, strong redemption price of 100.044, last trading date on September 17, 2025 [4]. - "金现转债" current price is 123.258, strong redemption price of 100.410, last trading date on September 18, 2025 [4]. - "东杰转债" current price is 302.500, strong redemption price of 100.950, last trading date on September 22, 2025 [4]. - "海亮转债" current price is 128.870, strong redemption price of 101.710, last trading date on September 23, 2025 [4]. - "海泰转债" current price is 155.830, strong redemption price of 100.260, last trading date on September 24, 2025 [4]. - "永和转债" current price is 145.139, with a pending announcement for redemption price [6]. - "华友转债" current price is 138.751, with a pending announcement for redemption price [6]. - "宏辉转债" current price is 152.909, with a pending announcement for redemption price [6].

Core Points - The company, Weiming Environmental Protection, announced that it will not exercise the right to lower the conversion price of the "Wei 22 Convertible Bonds" during the upcoming month from September 3, 2025, to October 2, 2025 [2] - If the conversion price adjustment clause is triggered again after October 3, 2025, the board will hold another meeting to decide whether to exercise the right to lower the conversion price [2] Summary by Sections - **Company Decision**: The board of Weiming Environmental Protection has decided not to lower the conversion price of the "Wei 22 Convertible Bonds" [2] - **Future Considerations**: The company will reassess the situation after October 3, 2025, if the conversion price adjustment clause is triggered again [2]

Summary of Key Points Core Viewpoint - Zhejiang Weiming Environmental Co., Ltd. announces the interest payment details for its convertible bonds "Wei 22 Convertible Bonds" which will start on July 22, 2025, for the interest period from July 22, 2024, to July 21, 2025 [1][4]. Group 1: Convertible Bond Issuance Overview - The "Wei 22 Convertible Bonds" were issued on July 22, 2022, with a face value of 100 RMB per bond [1]. - The bonds have an annual interest payment structure, with the first interest payment due on July 22, 2025 [2][3]. Group 2: Interest Payment Details - The interest rate for the third year is set at 0.80% (including tax), resulting in an interest payment of 0.80 RMB per bond [4]. - The interest payment dates include the record date on July 21, 2025, and the payment date on July 22, 2025 [1][4]. Group 3: Taxation on Interest Income - Individual investors are responsible for paying a 20% tax on the interest income, leading to a net payment of 0.64 RMB per bond after tax [5]. - Non-resident enterprises are exempt from corporate income tax on the interest income from these bonds [5]. Group 4: Contact Information - The company provides contact details for inquiries related to the bond interest payments, including addresses and phone numbers for their legal and securities departments [6].

Investment Rating - The report maintains a "Positive" investment rating for the environmental protection and testing sector [9] Core Insights - As of June 28, 2025, there are 23 convertible bonds listed in the environmental protection and testing sector, with a total issuance scale of approximately 233.9 billion yuan and a latest balance of 192.0 billion yuan. The sector features several low-price and low-premium convertible bonds, suggesting potential investment opportunities driven by profitability and conversion [2][4][20] - The report recommends focusing on convertible bonds such as Wei 22, Wei 24, Green Power, Yingfeng, Hongcheng, Wangneng, and Guojian, highlighting their potential for price appreciation due to underlying stock performance [6][30] Summary by Sections Convertible Bonds Overview - The environmental protection and testing sector has 23 convertible bonds currently trading, with a total remaining scale of 192 billion yuan. Among these, 1 bond is from a central enterprise, 3 from local state-owned enterprises, and 19 from private enterprises [4][20] - There is 1 convertible bond currently in the issuance application stage, with a scale of 4.93 billion yuan from Shengjian Technology [24] Issued and Delisted Convertible Bonds - As of June 28, 2025, 21 convertible bonds have been delisted from the environmental protection and testing sector, with a total issuance scale of 152.9 billion yuan. Five bonds were delisted in 2024, with an average time to maturity of 1.08 years [5][26] Investment Strategy - The report emphasizes two main drivers for investment: profitability and conversion. Profitability can be enhanced through capacity expansion and exploring new growth avenues, which may lead to stock price increases and higher conversion values. If the premium rate of convertible bonds remains stable or decreases slightly, their prices are expected to rise [30][32] - Conversion may be driven by increased capital expenditures for new projects or weakened cash flow from existing projects, potentially leading to adjustments in conversion prices and indirectly boosting bond prices [30][32] Financial Projections - The report includes financial forecasts for several companies in the sector, indicating expected growth in net profits and corresponding price-to-earnings (PE) ratios for the years 2024 to 2027 [31]

Group 1 - The report outlines the management of the convertible bonds issued by Zhejiang Weiming Environmental Co., Ltd, including the "Wei 22 Convertible Bonds" and "Wei 24 Convertible Bonds" [1][2] - The total amount approved for the "Wei 22 Convertible Bonds" is up to 1.477 billion RMB, with a net fundraising amount of approximately 1.465 billion RMB after deducting fees [3][4] - The "Wei 22 Convertible Bonds" have a maturity period from July 22, 2022, to July 21, 2028, with annual interest rates starting at 1.80% in the fifth year and 2.00% in the sixth year [4][5] Group 2 - The "Wei 24 Convertible Bonds" are approved for issuance up to 285 million RMB, with a net fundraising amount of approximately 282.17 million RMB after deducting fees [13][14] - The initial conversion price for the "Wei 24 Convertible Bonds" is set at 18.28 RMB per share, with a maturity period of six years starting from the issuance date [15][16] - The report specifies that the funds raised from both bond issuances will be used for specific investment projects, with a total investment amount of 171.15 million RMB for "Wei 22" and 33.01 million RMB for "Wei 24" [12][23]

Core Viewpoint - Zhejiang Weiming Environmental Protection Co., Ltd. has completed the repurchase and cancellation of restricted stock, and the conversion prices for its convertible bonds "Wei 22" and "Wei 24" will remain unchanged despite this action [1][3][5]. Summary by Sections Section 1: Convertible Bond "Wei 22" - The company issued 14.77 million convertible bonds with a total amount of 1.477 billion yuan, with an initial conversion price of 32.85 yuan per share, which has been adjusted to 27.27 yuan per share [1][2]. - The conversion price has undergone several adjustments due to profit distribution and other factors, with the latest adjustment being from 28.00 yuan to 27.27 yuan per share [2][4]. Section 2: Convertible Bond "Wei 24" - The company issued 2.85 million convertible bonds with a total amount of 285 million yuan, with an initial conversion price of 18.28 yuan per share, which has been adjusted to 17.55 yuan per share [2][4]. - Similar to "Wei 22," the conversion price for "Wei 24" has also been adjusted multiple times, with the latest adjustment being from 18.03 yuan to 17.55 yuan per share [2][4]. Section 3: Stock Repurchase and Cancellation - The company has decided to repurchase and cancel 90,000 shares of restricted stock due to the departure of one incentive plan participant, which will not significantly affect the overall share structure [3][5]. - Following the cancellation, the total number of shares will decrease from 1,704,648,119 to 1,704,558,119, with limited impact on the conversion prices of the convertible bonds [5][6].

Core Viewpoint - Zhejiang Weiming Environmental Co., Ltd. maintains its credit rating of "AA" with a stable outlook for both its convertible bonds and the company itself, as confirmed by the tracking credit rating report issued by China Chengxin International Credit Rating Co., Ltd. [2][3] Group 1: Credit Rating Details - The previous credit rating for the company and its convertible bonds ("Wei 22 Convertible Bond" and "Wei 24 Convertible Bond") was "AA" with a stable outlook [2][3] - The current credit rating results show no change, with the company and both convertible bonds retaining the "AA" rating and stable outlook [3] Group 2: Rating Agency and Report - The credit rating was conducted by China Chengxin International Credit Rating Co., Ltd., based on a comprehensive analysis of the company's operational status and industry conditions [2] - The tracking rating report for 2025 was issued on June 12, 2025, and is available on the Shanghai Stock Exchange website [2]