（文章来源：每日经济新闻） 每经AI快讯，10月10日，中证转债指数开盘下跌0.08%，报487.44点。其中，豫光转债、恩捷转债、欧 通转债、利扬转债、鹿山转债跌幅居前，分别跌4.13%、2.53%、2.36%、2.36%、2.24%。中环转2、利 民转债、立中转债、中辰转债、升24转债涨幅居前，分别涨20.00%、5.64%、3.80%、1.62%、1.56%。 ...

Core Viewpoint - The China Convertible Bond Index rose by 1.23% on September 11, closing at 480.25 points, indicating a positive trend in the convertible bond market [1] Group 1: Market Performance - The top performers in the convertible bond market included Fushi Convertible Bond, which increased by 20.00%, and Jing 23 Convertible Bond, also rising by 20.00% [1] - Other notable gains were seen in Jiaze Convertible Bond, which rose by 17.69%, and Outong Convertible Bond, which increased by 11.67% [1] - Conversely, Titan Convertible Bond experienced a decline of 2.69%, while Huicheng Convertible Bond fell by 2.04%, and Limin Convertible Bond decreased by 1.17% [1]

Core Viewpoint - Limin Holdings Group Co., Ltd. reported significant growth in its financial performance for the first half of 2025, with notable increases in revenue and net profit compared to the same period last year [2][3]. Financial Performance - The company's operating revenue for the reporting period reached approximately CNY 2.45 billion, representing a year-on-year increase of 6.69% from CNY 2.30 billion [2]. - The net profit attributable to shareholders surged to approximately CNY 268.85 million, marking a substantial increase of 747.13% compared to CNY 31.74 million in the previous year [2]. - The net profit after deducting non-recurring gains and losses was not specified in the provided data [2]. - The basic earnings per share rose to CNY 0.69, reflecting a 666.67% increase from CNY 0.09 [2]. - The diluted earnings per share also increased to CNY 0.60, up 566.67% from CNY 0.09 [2]. - The weighted average return on equity improved to 7.56%, compared to 6.39% in the previous year [2]. Cash Flow and Assets - The net cash flow from operating activities was negative at approximately CNY -114.18 million, which is a 180.08% decrease from CNY 91.44 million in the previous year [2]. - Total assets at the end of the reporting period were approximately CNY 6.78 billion, a 1.77% increase from CNY 6.66 billion at the end of the previous year [3]. - The net assets attributable to shareholders increased by 31.58% to approximately CNY 3.48 billion from CNY 2.64 billion [3]. Shareholder Information - The top shareholders include Li Ming and Li Xinsong, who hold 16.72% and 10.14% of the shares, respectively, with both having pledged their shares [3][4]. - The company did not experience any changes in its controlling shareholders or actual controllers during the reporting period [4]. Debt and Financial Ratios - The company's debt-to-asset ratio was reported at 47.78%, a decrease from 59.53% in the previous year [4]. - The EBITDA interest coverage ratio improved significantly to 16.29 from 6.89 in the previous year [4].

Group 1 - The actual controller of Huakang Clean, Mr. Tan Pingtao, is under investigation and has been placed under detention by the Guangdong Provincial Supervisory Committee [1] - The company received a notification regarding the investigation and detention of its chairman, which may impact its operations and investor confidence [1] Group 2 - Limin Convertible Bond and Xinhua Convertible Bond will not be forcibly redeemed [2][3] - Zhengfan Technology plans to acquire 62.23% of Hanjing Semiconductor for 1.12 billion [2] - Jialitu's controlling shareholder intends to reduce its stake by no more than 1% [2] - Yongji Co., Ltd. is planning to acquire control of Tena Fei Electronics Technology and will be suspended from trading starting August 14 [2] - Zhigao Machinery has listed new shares on the Beijing Stock Exchange [2] Group 3 - A detailed table of various convertible bonds is provided, including their current prices, redemption prices, last trading dates, conversion values, and remaining scales [5][7]

Group 1 - The company announced that its sixth session of the eighth board meeting was held on August 13, 2025 [2] - The meeting reviewed the proposal regarding the non-early redemption of "Limin Convertible Bonds" [2]

Core Viewpoint - The company has decided not to exercise the early redemption rights for its convertible bonds, "Li Min Convertible Bonds," based on current market conditions and to protect investor interests [1][8]. Summary by Sections Convertible Bond Issuance Overview - The company issued a total of 980 million RMB in convertible bonds, with a face value of 100 RMB each, amounting to 9.8 million bonds, with a maturity of 6 years [1][2]. Listing and Conversion Details - The convertible bonds were listed on March 24, 2021, and the conversion period started on September 6, 2021, lasting until the maturity date on February 28, 2027 [2][3]. Conversion Price Adjustments - The conversion price has been adjusted multiple times due to profit distribution plans: - From 14.23 RMB to 13.98 RMB on June 2, 2021 [2] - From 13.98 RMB to 11.20 RMB on May 24, 2022 [3] - From 11.20 RMB to 10.95 RMB on June 16, 2023 [4] - From 10.75 RMB to 8.50 RMB on July 19, 2024 [5] - From 8.50 RMB to 8.35 RMB on October 18, 2024 [5] - From 8.35 RMB to 8.10 RMB on May 28, 2025 [6] Conditional Redemption Terms - The company has set conditional redemption terms, allowing for redemption if the stock price exceeds 130% of the conversion price for 15 out of 30 trading days or if the unconverted bond balance falls below 30 million RMB [6][7]. Current Redemption Status - As of July 24, 2025, the stock price has met the conditions for potential redemption, but the company has opted not to redeem the bonds early [8]. Board Decision and Future Considerations - The board has resolved not to exercise the early redemption rights for the next three months, even if the redemption conditions are met again [8][9]. The board will reconvene to decide on any future redemption actions after November 13, 2025 [8]. Shareholder Transactions - Key executives and board members have shown confidence in the company by purchasing convertible bonds, with specific amounts disclosed [9][10]. There are currently no plans for these individuals to reduce their holdings in the bonds [10].

Group 1 - The company held its sixth board meeting, with all 11 directors present, and the meeting was conducted in accordance with relevant regulations [1] - The board unanimously approved the proposal not to redeem the "Limin Convertible Bonds" in advance, with 11 votes in favor and no opposition or abstentions [1] - The details of the proposal are available in the announcements published in "Securities Times," "China Securities Journal," and on the Giant Tide Information website [1]

Core Viewpoint - The company announces that its convertible bonds, "Li Min Convertible Bonds," are expected to trigger redemption conditions due to the stock price being above the conversion price for 9 consecutive trading days from July 24, 2025, to August 5, 2025 [1][8]. Group 1: Convertible Bond Issuance Overview - The company issued a total of 980 million RMB in convertible bonds, with 9.8 million bonds at a face value of 100 RMB each, for a term of 6 years [1][2]. - The bonds were approved by the China Securities Regulatory Commission and began trading on March 24, 2021 [2]. Group 2: Conversion Price Adjustments - The initial conversion price was set at 14.23 RMB per share, which was adjusted to 13.98 RMB following a cash dividend distribution on June 2, 2021 [2]. - Subsequent adjustments were made to the conversion price, reducing it to 11.20 RMB on May 24, 2022, and further to 10.95 RMB on June 16, 2023 [3][4]. - The conversion price was further reduced to 10.75 RMB on June 12, 2024, and then to 8.50 RMB on July 19, 2024 [5][6]. Group 3: Redemption Conditions - The company has the right to redeem the bonds if the stock price remains above 130% of the conversion price for at least 15 out of 30 trading days or if the remaining balance of unconverted bonds is less than 30 million RMB [7]. - The redemption price will be the face value plus accrued interest, and the redemption period aligns with the conversion period [7][9].

Group 1 - The company announced that several directors and senior management personnel have completed the purchase of its convertible bonds, reflecting their confidence in the company's future development and intrinsic value [1] - The total amount invested by the directors and senior management in the convertible bonds is 2.2 million yuan, with individual contributions ranging from 400,000 to 500,000 yuan [1] - The completion of the bond purchase includes specific details such as the number of bonds acquired and the total amount spent, amounting to approximately 2.216 million yuan for 9,850 bonds [1] Group 2 - The company previously disclosed the intention of its directors and senior management to purchase convertible bonds on August 10, 2024, to protect the interests of bond investors and stabilize market expectations [1] - The announcement includes a detailed table listing the names, positions, and amounts invested by each participating director and senior management member [1] - The completion date for the bond purchases was reported as July 17, 2025, confirming that all commitments were fulfilled [1]

Group 1 - The China Securities Convertible Bond Index opened lower by 0.01% [1] - Bohui Convertible Bond increased by 7.4%, while Dongshi Convertible Bond and Hangxin Convertible Bond rose by 3% [1] - Quanfeng Convertible Bond declined by nearly 3%, and Limin Convertible Bond fell by nearly 2% [1]