Group 1 - The company announced the completion of the issuance of A-shares to specific targets for the year 2024, increasing the total share capital from 200,362,704 shares to 211,411,684 shares [1] - The conversion price of "Yirui Convertible Bonds" will be adjusted from 115.46 CNY per share to 114.98 CNY per share, effective from October 22, 2025 [1] - "Yirui Convertible Bonds" will be suspended from conversion on October 21, 2025, and will resume conversion on October 22, 2025 [1]

Core Points - The company will pay interest on its convertible bonds on October 24, 2025, for the period from October 24, 2024, to October 23, 2025 [1][11] - The total amount raised from the issuance of convertible bonds is RMB 143,501 million, with a face value of RMB 100 per bond [1][2] - The initial conversion price for the bonds was adjusted from RMB 499.89 to RMB 354.54 due to the company's annual equity distribution [3][4] Convertible Bond Issuance Overview - The company issued a total of 14,350,100 convertible bonds on October 24, 2022, with a maturity period of six years [1] - The bonds were listed on the Shanghai Stock Exchange on November 18, 2022, under the name "奕瑞转债" and code "118025" [2] Conversion and Adjustment Details - The bonds can be converted into shares from April 28, 2023, to October 23, 2028, with an initial conversion price of RMB 499.89 per share [3] - The conversion price has been adjusted multiple times, with the latest adjustment setting it at RMB 162.81 per share effective June 17, 2024 [5][6] Interest Payment Details - The annual interest rate for the bonds is set at 0.8%, resulting in an interest payment of RMB 0.80 per bond (before tax) [11][14] - The interest payment date is October 24, 2025, with the record date for interest payment being October 23, 2025 [4][15] Tax Implications - Individual investors are subject to a 20% tax on interest income, resulting in a net payment of RMB 0.64 per bond after tax [14][16] - Non-resident enterprises are exempt from corporate income tax on interest income from these bonds until December 31, 2025 [16] Contact Information - The company is located at 999 Huanqiao Road, Pudong New District, Shanghai, and can be contacted via email at ir@iraygroup.com [17]

Core Viewpoint - The announcement details the adjustment of the conversion price for "Yirui Convertible Bonds" following the completion of the second vesting of the first grant under the 2021 Restricted Stock Incentive Plan, resulting in an increase in the company's total share capital. Group 1: Conversion Price Adjustment - The conversion price for "Yirui Convertible Bonds" has been adjusted from 115.50 CNY per share to 115.46 CNY per share, effective from October 16, 2025 [5][8]. - The adjustment is based on the completion of the vesting registration of 144,334 shares at a price of 62.34 CNY per share, increasing the total share capital from 200,218,370 shares to 200,362,704 shares [7][28]. Group 2: Regulatory Compliance - The adjustment of the conversion price complies with the relevant regulations set forth by the China Securities Regulatory Commission and the terms outlined in the prospectus for the issuance of convertible bonds [3][4]. - The company will publish further announcements regarding any future adjustments to the conversion price in accordance with applicable laws and regulations [6][8]. Group 3: Impact on Financials - The newly vested shares represent approximately 0.07% of the total share capital prior to the adjustment and are not expected to have a significant impact on the company's recent financial performance [28].

Core Points - The company completed the registration procedures for the second vesting period of the first grant under the 2021 restricted stock incentive plan, granting 144,334 shares at a price of 62.34 yuan per share [2] - The total share capital increased from 200,218,370 shares to 200,362,704 shares due to this stock incentive registration [2] - The conversion price of the company's convertible bonds has been adjusted to 115.46 yuan per share, effective from October 16, 2025 [2]

Core Viewpoint - The company has adjusted the upper limit of A-share stock issuance to specific targets due to changes in total share capital resulting from various corporate actions, increasing the limit from 21,418,292 shares to 30,032,755 shares [1][4]. Group 1: A-Share Issuance Adjustment - The company’s board approved the adjustment of the upper limit for A-share issuance to not exceed 30,032,755 shares, which is 15% of the total share capital prior to the issuance [1][4]. - The adjustment is a result of the company's annual profit distribution, convertible bond conversions, and stock incentive plans, which have altered the total share capital [2][3]. Group 2: Share Capital Changes - The total share capital increased from 143,062,824 shares to 200,218,370 shares after the profit distribution, which included a cash dividend of 1.00 yuan per share and a capital increase of 0.40 shares per share [3][4]. - The company completed the registration of shares related to the stock incentive plan, contributing to the increase in total share capital [2].

Summary of Key Points Core Viewpoint - The article discusses recent developments in convertible bonds, including shareholder reduction plans, strong redemptions, and new listings on the North Exchange. Group 1: Shareholder Actions - Lino Pharmaceutical's shareholders plan to reduce their holdings by no more than 3.61% of the company's shares [1]. Group 2: Convertible Bonds - Strong redemptions are noted for Haopeng Convertible Bond and Dongcai Convertible Bond, while Zhongqi Convertible Bond will not undergo strong redemption [1]. - Several convertible bonds, including Yirui, Jiayuan, and Jinggong, will not undergo adjustments [1]. - The last trading day for Hexing Convertible Bond is set for August 12, 2025 [1]. Group 3: New Listings - Hongyuan Co., Ltd. will have its new shares available for subscription on August 11, 2023, on the North Exchange [1]. - Youli Intelligent and two South Data Center REITs have been listed [1]. Group 4: Convertible Bond Data - A detailed table of convertible bonds includes information such as current price, redemption price, last trading day, conversion value, remaining scale, and the proportion of convertible bonds to the underlying stock [1][4][6]. - For example, the current price of Hexing Convertible Bond is 111.701, with a redemption price of 110.000 and a last trading day of August 12, 2025 [4].

Core Viewpoint - The company, Yirui Technology, announced that it will not adjust the conversion price of its convertible bonds downward, even if the conditions for downward adjustment are triggered again within the next six months [1] Summary by Sections - **Company Decision**: The board of directors of Yirui Technology decided not to propose a downward adjustment to the conversion price of the "Yirui Convertible Bonds" [1] - **Time Frame**: This decision is effective until February 7, 2026, and applies to any future triggers of the downward adjustment clause within the next six months from the announcement date [1]

Core Viewpoint - The company has decided not to adjust the conversion price of its convertible bonds, despite triggering conditions for a downward adjustment due to stock price performance [1][7]. Summary by Sections Convertible Bond Basic Information - The company issued a total of 14,350,100 convertible bonds at a face value of 100 RMB each, raising a total of 1,435.01 million RMB [1]. - The bonds have been trading on the Shanghai Stock Exchange since November 18, 2022, under the name "Yirui Convertible Bonds" and code "118025" [1]. Conversion Price Adjustments - The conversion price was adjusted from 499.89 RMB/share to 499.26 RMB/share in 2023 due to the company's stock incentive plan [2]. - Following the 2022 annual profit distribution, the conversion price was further adjusted to 354.54 RMB/share starting April 24, 2023 [2]. - A downward adjustment to 230.00 RMB/share is set to take effect on November 28, 2023, due to stock price performance [3]. - Subsequent adjustments will occur based on further corporate actions, including profit distributions and stock incentive plans, with the conversion price reaching 115.50 RMB/share by June 19, 2025 [4][5]. Downward Adjustment Conditions - The company triggered the condition for a downward adjustment when its stock price was below 85% of the conversion price for at least 15 trading days within a 30-day period [6][7]. - The board of directors decided not to propose a downward adjustment for the conversion price, even if the conditions are met again within the next six months [7].

Group 1 - The company issued convertible bonds totaling RMB 1,435.01 million, with a net amount of RMB 1,421.31 million after deducting issuance costs [1][2] - The convertible bonds were listed on the Shanghai Stock Exchange on November 18, 2022, with an initial conversion price of RMB 499.89 per share, currently adjusted to RMB 115.50 per share [2] - The conversion price can be adjusted downwards if the company's stock price closes below 85% of the current conversion price for at least 15 out of 30 consecutive trading days [3] Group 2 - The adjustment proposal for the conversion price must be approved by more than two-thirds of the voting rights at the shareholders' meeting, excluding bondholders from voting [3] - If the conversion price is adjusted, the new price will not be lower than the average trading price of the company's stock over the 20 trading days prior to the shareholders' meeting [3] - There is a potential trigger for the conversion price adjustment, as the company's stock has closed below 85% of the current conversion price for ten trading days from July 18 to July 31, 2025 [4]

Core Viewpoint - The credit rating for Yirui Technology Group Co., Ltd. and its convertible bonds remains stable at "AA" according to the recent tracking report by Dongfang Jincheng International Credit Assessment Co., Ltd. [1][2] Group 1 - The previous credit rating for the company was "AA" with a stable outlook, and this rating has been maintained in the latest assessment [1][2] - The credit rating for the "Yirui Convertible Bonds" is also confirmed at "AA" with a stable outlook [1][2] - The tracking credit rating report was disclosed on the Shanghai Stock Exchange website on the same day it was issued [2]