Core Points - The actual controller and concerted action person, Ms. Gao Lei, reduced her shareholding in the company by 2.2597 million shares from September 2, 2025, to October 17, 2025, through centralized bidding, with no shares sold via block trading [1] - The company's convertible bonds had a conversion deadline on September 5, 2025, leading to the conversion of 2.1314 million shares, increasing the total share capital from 241 million shares to 243 million shares [1] - As a result of these changes, the combined equity ratio of the controlling shareholder, Mr. Lü Jie, and his concerted action persons, Mr. Lü Baozhong and Ms. Gao Lei, decreased from 41.68% to 40.39%, touching the 1% integer threshold [1]

Group 1 - The core point of the announcement is that "Xince Convertible Bonds" have ceased trading, and investors are reminded to convert their bonds within the specified period [2] - The last conversion date for "Xince Convertible Bonds" is September 5, 2025, and investors can still convert their bonds before the market closes on that day [2] - After the market closes on September 5, 2025, any unconverted "Xince Convertible Bonds" will be forcibly redeemed at a price of 100.42 yuan per bond (including tax) [2]

Core Viewpoint - The company announces the mandatory redemption of its convertible bonds, "信测转债," and urges investors to convert their bonds into shares before the deadline to avoid potential losses [1][2][3] Group 1: Convertible Bond Redemption Details - The last conversion date for "信测转债" is September 5, 2025, after which unconverted bonds will be redeemed at a price of 100.42 CNY per bond, including tax [1][2] - The company has triggered the conditional redemption clause due to the stock price being above 130% of the conversion price for 15 out of 30 trading days [2][8] - The board of directors approved the early redemption of "信测转债" on August 8, 2025, based on current market conditions [3] Group 2: Financial Information - The total amount raised from the issuance of "信测转债" was 545 million CNY, with a net amount of approximately 533.56 million CNY after deducting issuance costs [4] - The initial conversion price was set at 36.89 CNY per share, which will be adjusted to 25.76 CNY per share effective May 27, 2024, due to capital increases and cash dividends [5][6] - The bond's annual interest rate is 0.50%, and the accrued interest for redemption is calculated to be approximately 0.42 CNY per bond [7][8] Group 3: Redemption Process - The redemption will be executed on September 15, 2025, with funds transferred directly to the bondholders' accounts [9] - Bondholders are advised to consult their brokerage firms for the conversion process and to ensure they meet the conversion deadline [10]

Summary of Key Points Core Viewpoint - Several shareholders of companies are planning to reduce their stakes, indicating potential shifts in ownership dynamics within the market [1]. Group 1: Shareholder Reductions - Fangyuan Co., Ltd. plans to reduce its shareholding by no more than 3% [1]. - Shengtai Group intends to reduce its shareholding by no more than 3% [1]. - Jusa Long is looking to reduce its shareholding by no more than 1% [1]. Group 2: Convertible Bonds - Huayang Convertible Bond and Tianye Convertible Bond have announced adjustments to their terms [2]. - The following convertible bonds have specific details regarding their current prices, redemption prices, last trading dates, last conversion dates, conversion values, remaining scales, and the proportion of convertible bonds to the underlying stocks [4][6]. - For example, the Kaien Convertible Bond has a current price of 124.657, a strong redemption price of 100.118, and a conversion value of 125.19 with a remaining scale of 0.041 billion [4]. - The Dongcai Convertible Bond has a current price of 160.105, a strong redemption price of 100.805, and a conversion value of 160.19 with a remaining scale of 0.921 billion [4].

Group 1 - Huayang International Engineering Design Co., Ltd. has adjusted the conversion price of "Huayang Convertible Bond" from 18.04 CNY/share to 14.39 CNY/share, effective from September 2, 2025, due to the stock price being below 85% of the conversion price for 15 out of the last 30 trading days [1] - Xinjiang Tianye Co., Ltd. has lowered the conversion price of "Tianye Convertible Bond" from 6.78 CNY/share to 5.60 CNY/share, effective from September 3, 2025, following a similar trigger of the downward adjustment clause [3] - The "Xince Convertible Bond" has entered the redemption period, with the last trading day on September 2, 2025, and the redemption price set at 100.42 CNY per bond, triggered by the stock price being above 130% of the conversion price for 15 out of the last 30 trading days [5] Group 2 - The "Dongcai Convertible Bond" has initiated redemption, with the last trading day on September 2, 2025, and a redemption price of 100.8055 CNY per bond, due to the stock price exceeding 130% of the conversion price for 15 out of the last 30 trading days [6] - The "Mingdian Convertible Bond" has also entered the redemption phase, with a redemption price of 101.83 CNY per bond, triggered by the same condition as above [7] - Several convertible bonds are nearing their redemption deadlines, with "Fuchun Convertible Bond" and "He 21 Convertible Bond" having only one trading day left [8]

Core Viewpoint - Shenzhen Xince Standard Technology Service Co., Ltd. has announced the forced redemption of its convertible bonds "Xince Convertible Bonds" (code: 123231) due to the triggering of conditional redemption clauses, with trading set to cease on September 2, 2025, and redemption occurring on September 8, 2025 [1][2][3]. Summary by Sections Important Content Reminder - "Xince Convertible Bonds" will stop trading after the market closes on September 2, 2025, and investors can still convert their bonds until September 5, 2025 [1][2]. - If conversion is not executed by the deadline, remaining bonds will be forcibly redeemed at a price of 100.42 CNY per bond, including tax [1][2]. Conditional Redemption Trigger - The conditional redemption clause was triggered as the closing price of the company's stock was at least 130% of the current conversion price (18.22 CNY) for 15 out of 30 consecutive trading days from July 17 to August 8, 2025 [2][8]. Redemption Implementation Arrangements - The redemption price is set at 100.42 CNY per bond, which includes accrued interest calculated based on a 0.50% annual interest rate [7][8]. - The redemption will affect all bondholders registered with the China Securities Depository and Clearing Corporation as of September 5, 2025 [9]. Company Actions and Financial Details - The company issued 5,450,000 convertible bonds with a total value of 545 million CNY, approved by the China Securities Regulatory Commission [3][4]. - The net amount raised after deducting issuance costs was approximately 533.56 million CNY [4]. Stock Price Adjustment - The initial conversion price of the bonds was set at 36.89 CNY per share, which will be adjusted to 25.76 CNY following a capital increase and cash dividend distribution [5][6]. Shareholder Transactions - The actual controller and major shareholders did not trade "Xince Convertible Bonds" in the six months leading up to the redemption condition being met [10].

Group 1 - The convertible bond of Xince Standard experienced a 2.0% decline, trading at 137.197 yuan per share, with a transaction volume of 96.2521 million yuan and a conversion premium of 0.57% [1] - Xince Standard's convertible bond has a credit rating of "AA-" and a maturity of 1.8329 years, with interest rates increasing from 0.20% in the first year to 2.50% in the sixth year [1] - The company, Shenzhen Xince Standard Technology Service Co., Ltd., was established in 2000 and is one of the earliest third-party testing institutions in China, providing services across various industries including automotive, electronics, and life sciences [1] Group 2 - For the first half of 2025, Xince Standard reported a revenue of 372.1 million yuan, a year-on-year increase of 1.35%, and a net profit attributable to shareholders of 95.0111 million yuan, up 2.4% year-on-year [2] - The company has a concentrated shareholder structure, with the top ten shareholders holding a combined 54.53% of shares, and the top ten circulating shareholders holding 36.04% [2] - As of June 2025, the number of shareholders is 17,800, with an average circulating shareholding of 8,601 shares and an average holding amount of 180,700 yuan [2]

Core Points - The company Xincheng Standard announced a mandatory redemption of its convertible bonds, "Xincheng Convertible Bonds," at a price of 100.42 yuan per bond, effective after the market closes on September 5, 2025 [2] - The current secondary market price of the "Xincheng Convertible Bonds" is significantly different from the redemption price, prompting the company to remind bondholders to convert their bonds within the specified period to avoid potential losses [2] Summary by Category - **Company Announcement** - Xincheng Standard has issued a notice regarding the mandatory redemption of its convertible bonds [2] - The redemption price is set at 100.42 yuan per bond, effective after September 5, 2025 [2] - **Market Implications** - There is a notable disparity between the secondary market price of the bonds and the redemption price [2] - Bondholders are advised to convert their bonds in a timely manner to mitigate potential financial losses [2]

证券代码：300938 证券简称：信测标准 公告编号：2025-149 债券代码：123231 债券简称：信测转债 深圳信测标准技术服务股份有限公司 关于提前赎回"信测转债"的第十二次提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 为 0.50%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任 公司深圳分公司（以下简称"中国结算"）核准的价格为准。 强制赎回，本次赎回完成后，"信测转债"将在深圳证券交易所（以下简称"深 交所"）摘牌，特提醒"信测转债"持券人注意在限期内转股。债券持有人持有 的"信测转债"如存在被质押或被冻结的，建议在停止转股日前解除质押或冻结， 以免出现因无法转股而被赎回的情形。 适当性管理要求的，不能将所持"信测转债"转换为股票，特提请投资者关注不 能转股的风险。 转债"，将按照 100.42 元/张的价格强制赎回，因目前"信测转债"二级市场价 格与赎回价格存在较大差异，特别提醒"信测转债"持有人注意在限期内转股， 如果投资者未及时转股，可能面临损失，敬请投资者注意投资风险。 （二）可转债上市情况 经深 ...

Group 1 - The core point of the news is the performance and characteristics of the convertible bond issued by Shenzhen Xince Standard Technology Service Co., Ltd., which has seen a price increase and has specific terms for conversion into equity [1][2] - The convertible bond, known as "Xince Convertible Bond," has a credit rating of "AA-" and a maturity of 1.8329 years, with a conversion price set at 18.22 yuan, starting from May 15, 2024 [1] - The company, established in 2000, is one of the earliest third-party testing institutions in China, providing services across various industries including automotive, electronics, consumer goods, and life sciences [1] Group 2 - For the first half of 2025, the company reported a revenue of 372.1 million yuan, reflecting a year-on-year increase of 1.35%, and a net profit attributable to shareholders of 95.01 million yuan, up by 2.4% [2] - The concentration of shareholding is relatively high, with the top ten shareholders holding a combined 54.53% of shares, and the top ten circulating shareholders holding 36.04% [2] - As of June 2025, the company has approximately 17,800 shareholders, with an average circulating shareholding of 8,601 shares and an average holding amount of 180,700 yuan [2]