Core Points - The company announces that the "Qizheng Convertible Bonds" will stop conversion and be redeemed after the trading session on September 2, 2025, at a price of 101.701 CNY per bond, including accrued interest [1][9][10] - Investors are advised to convert their bonds before the deadline to avoid potential losses due to forced redemption [1][2][6] Summary by Sections Important Announcement - The company confirms that there is only half a trading day left for the conversion of "Qizheng Convertible Bonds" before they are redeemed [1] - The redemption price is set at 101.701 CNY per bond, which includes the accrued interest calculated based on the bond's face value and interest rate [1][9] Bond Issuance Details - The company issued 8 million convertible bonds at a face value of 100 CNY each, totaling 800 million CNY, approved by the China Securities Regulatory Commission [2][3] - The bonds were listed on the Shenzhen Stock Exchange on October 27, 2020 [2] Conversion and Redemption Terms - The conversion period for the bonds started on March 29, 2021, and will end on September 21, 2026 [3] - The company has the right to redeem the bonds early if the stock price exceeds 130% of the conversion price for a specified period [7][9] Redemption Process - The redemption will be executed for all unconverted bonds after the close of trading on September 2, 2025, and the bonds will be delisted from the Shenzhen Stock Exchange [10] - The redemption amount will be credited to the bondholders' accounts on September 10, 2025 [10] Shareholder Transactions - The company discloses that there were no significant transactions involving the bonds by major shareholders or executives in the six months leading up to the redemption conditions being met [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].

Core Viewpoint - The article discusses the status of various convertible bonds, highlighting which bonds are subject to strong redemption, which are not, and the upcoming trading and conversion dates for specific bonds [1][2]. Group 1: Convertible Bonds Status - Huayou Convertible Bond is subject to strong redemption [1][2]. - Both Tianneng Convertible Bond and Tianci Convertible Bond are not subject to down adjustment [1][2]. - Shentong Convertible Bond and Bo23 Convertible Bond are not subject to strong redemption [1][2]. Group 2: Trading and Conversion Dates - The last trading day for Zhongzhuang Convertible Bond is September 3, 2025 [1][2]. - The last trading day for various other convertible bonds ranges from August 27, 2025, to September 24, 2025, with specific conversion dates following shortly after [4][6]. Group 3: Pricing and Valuation - Current prices for several convertible bonds are listed, with notable examples including: - Kaineng Convertible Bond at 124.657 with a strong redemption price of 100.118 [4]. - Qizheng Convertible Bond at 145.298 with a strong redemption price of 101.701 [4]. - The conversion values and remaining scales for these bonds indicate their market performance and investor interest [4][6].

Key Points - The company has announced the early redemption of its convertible bonds "Qizheng Convertible Bonds" due to the current market conditions and the company's situation [2][7] - The last conversion date for the "Qizheng Convertible Bonds" is September 2, 2025, after which unconverted bonds will be redeemed [1][10] - The redemption price for the bonds is set at 101.701 CNY per bond, which includes accrued interest [9][10] - The total issuance of the convertible bonds was 800 million CNY, with each bond having a face value of 100 CNY [2][3] - The conversion period for the bonds started on March 29, 2021, and will end on September 21, 2026 [3] - The conversion price has been adjusted multiple times, with the latest adjustment setting it at 19.01 CNY per share as of July 10, 2025 [7][9] - The company has triggered the conditional redemption clause, as the stock price has been above 130% of the conversion price for a specified period [7][9] - Bondholders must convert their bonds through the securities company that holds their bonds before the deadline to avoid forced redemption [11][12]

Core Points - The company announces that the trading of "Qizheng Convertible Bonds" will cease after the last half trading day on August 28, 2025, with the bond name changed to "Z Zheng Convertible Bonds" on that day [1][2] - Investors can still convert their bonds into shares until the close of trading on September 2, 2025, after which unconverted bonds will be redeemed [1][2] - The redemption price for "Qizheng Convertible Bonds" is set at 101.701 CNY per bond, including accrued interest, with the annual interest rate being 1.80% [1][9] Summary of Convertible Bonds - The company issued 8 million convertible bonds at a face value of 100 CNY each, totaling 800 million CNY, approved by the China Securities Regulatory Commission [2][3] - The bonds were listed on the Shenzhen Stock Exchange on October 27, 2020, with a maturity date of September 21, 2026 [3] - The conversion period for the bonds started on March 29, 2021, and will end on the maturity date [3][4] Redemption Conditions - The company has the right to redeem the bonds if the stock price has been at least 130% of the conversion price for 15 out of 30 consecutive trading days [7][8] - The redemption was approved by the board on August 11, 2025, based on current market conditions and the company's situation [2][8] Redemption Process - The redemption will be executed for all unconverted bonds at the specified price, with the redemption date set for September 2, 2025 [9][10] - The redemption funds will be transferred to the bondholders' accounts on September 10, 2025 [10] Share Conversion - Bondholders must apply for conversion through the securities company that holds their bonds, and the conversion must be in whole shares [12] - Any remaining balance that cannot be converted into a whole share will be paid in cash along with accrued interest [12]

Core Viewpoint - Qizheng Tibetan Medicine (002287) announced that its convertible bond, "Qizheng Convertible Bond," will cease trading after the afternoon session on August 28, with the last conversion day on September 2 [1] Summary by Relevant Sections - **Trading Status** - "Qizheng Convertible Bond" will stop trading after the close of the market on August 28, leaving only half a trading day for transactions [1] - There are only three trading days left before the bond stops conversion and is redeemed after the close on September 2 [1] - **Conversion Details** - Investors holding "Qizheng Convertible Bond" can still convert their bonds until the market closes on September 2 [1]

Group 1 - The company announced the early redemption of "Qizheng Convertible Bonds" and the upcoming cessation of trading [1] - The last trading day for the bonds is set for August 28, 2025, and the last conversion day is September 2, 2025 [1] - The redemption price is 101.701 yuan per bond, including accrued interest, with the redemption date on September 3, 2025 [1] Group 2 - The board of directors decided to exercise the early redemption rights due to the company's stock price triggering conditional redemption clauses [1] - Investors are reminded to pay attention to the conversion deadline to avoid potential losses, especially those with pledged or frozen shares [1]

Core Viewpoint - The company has decided to exercise the early redemption of its convertible bonds "奇正转债" due to current market conditions and its own situation, with the redemption process set to take place shortly [2][6]. Group 1: Convertible Bond Details - The company issued 8 million convertible bonds at a face value of 100 RMB each, totaling 800 million RMB, which began trading on October 27, 2020 [2]. - The bond's conversion period started on March 29, 2021, and will end on September 21, 2026 [2]. - The current redemption price for "奇正转债" is set at 101.701 RMB per bond, which includes accrued interest [8]. Group 2: 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 trading days within a 30-day period [6]. - The redemption will occur on September 2, 2025, after which the bonds will be delisted from the Shenzhen Stock Exchange [9]. Group 3: Shareholder Transactions - The company's major shareholders, including the actual controller and those holding over 5% of shares, did not engage in any transactions involving "奇正转债" in the six months leading up to the redemption conditions being met [9]. Group 4: Redemption Process - Bondholders must submit their conversion requests through the securities company that holds their bonds, and the conversion must be in whole shares [10]. - The redemption funds will be credited to the bondholders' accounts on September 10, 2025 [9].

Core Viewpoint - The company has triggered the conditional redemption clause for its convertible bonds, "Qizheng Convertible Bonds," due to the stock price exceeding 130% of the conversion price for fifteen consecutive trading days, leading to a decision for early redemption [2][7]. Group 1: Convertible Bond Redemption Details - The redemption price for "Qizheng Convertible Bonds" is set at 101.701 CNY per bond, which includes accrued interest [9]. - The total issuance of the convertible bonds was 800 million CNY, with each bond having a face value of 100 CNY [2][3]. - The redemption will occur on September 10, 2025, with the redemption registration date being September 2, 2025 [10]. Group 2: Conditions for Redemption - The company can redeem the bonds if the stock price remains above 130% of the conversion price for at least fifteen trading days or if the remaining unconverted bonds are less than 30 million CNY [7][8]. - The conversion price has been adjusted multiple times, with the latest adjustment setting it at 19.01 CNY per share as of July 10, 2025 [7][10]. Group 3: Shareholder Information - The company has confirmed that major shareholders, including the actual controller and significant stakeholders, did not engage in trading the convertible bonds in the six months leading up to the redemption conditions being met [10]. - Shareholders wishing to convert their bonds must do so through the securities company that holds their bonds [11].

Core Viewpoint - The last trading day for the Emergency Convertible Bond and Youzu Convertible Bond is August 22, with significant potential losses for investors who do not act in time [2][3][5]. Group 1: Important Dates and Actions - Investors are reminded that August 22 is the last trading day for both Emergency Convertible Bond and Youzu Convertible Bond, with August 27 being the final conversion day [3][5]. - After August 27, unconverted convertible bonds will be frozen and cease trading and conversion [3][4]. - The conversion prices for the Emergency Convertible Bond and Youzu Convertible Bond are set at 7.06 CNY/share and 10.10 CNY/share, respectively, during the conversion period from August 25 to 27 [3][4]. Group 2: Financial Implications - As of August 21, the closing prices for Emergency Convertible Bond and Youzu Convertible Bond were 126.099 CNY and 163.240 CNY per bond, respectively, indicating potential losses of over 20% and 37% if investors fail to act [5]. - There are still 143 million CNY and 59 million CNY of Emergency Convertible Bond and Youzu Convertible Bond, respectively, that have not been traded or converted, representing over 17% and 5% of their total [5]. - Other convertible bonds, including Hongfeng Convertible Bond, Haopeng Convertible Bond, and others, are also approaching their last trading days, with various balances remaining [5]. Group 3: Redemption Mechanism - The forced redemption of convertible bonds occurs when the underlying stock price exceeds 130% of the conversion price for at least 15 out of 30 trading days [7]. - Investors are advised to either sell the convertible bonds or convert them within the specified period to avoid losses, as the company will redeem unconverted bonds at a price slightly above face value [7]. - New regulations have introduced a "Z" identifier for the last trading day of convertible bonds to alert investors of the associated risks [7].