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 company has announced the early redemption of its convertible bonds ("开能转债") due to the stock price exceeding the specified threshold, urging bondholders to convert their bonds before the deadline to avoid potential losses [1][2][6]. Group 1: Convertible Bond Details - The company issued 2.5 million convertible bonds with a total value of 250 million yuan, each with a face value of 100 yuan [2][5]. - The initial conversion price was set at 5.67 yuan per share, which has been adjusted multiple times due to dividend distributions, with the latest adjustment bringing it to 5.36 yuan per share [3][4][6]. - The bonds have a conditional redemption clause that allows the company to redeem them if the stock price remains above 130% of the conversion price for a specified period [5][6]. Group 2: Redemption Process - The redemption price for the bonds is confirmed at 100.118 yuan per bond, which includes accrued interest calculated based on the bond's face value and interest rate [6][7]. - The redemption will occur on September 2, 2025, with bondholders needing to ensure their holdings are not pledged or frozen to avoid complications [1][7]. - The company will publish the redemption results and the delisting announcement for the bonds following the completion of the redemption process [7][8].

Core Viewpoint - The company is announcing the forced redemption of its convertible bonds ("开能转债") at a price of 100.118 yuan per bond, urging bondholders to convert their bonds into shares before the deadline to avoid potential losses [1][2]. Summary by Sections Convertible Bond Basic Information - The company issued 2.5 million convertible bonds on July 20, 2023, with a total value of 250 million yuan [3]. - The initial conversion price was set at 5.67 yuan per share, which has been adjusted multiple times due to dividend distributions, with the latest adjustment bringing it to 5.36 yuan per share [3][4][5]. Conditional Redemption Terms and Triggering Events - The conditional redemption clause allows the company to redeem the bonds if the stock price exceeds 130% of the conversion price for at least 15 out of 30 consecutive trading days [5][6]. - The stock price reached the threshold of 6.968 yuan per share, triggering the redemption clause between July 21, 2025, and August 11, 2025 [6]. Redemption Implementation Arrangements - The redemption price is confirmed at 100.118 yuan per bond, which includes accrued interest calculated based on a 1.00% coupon rate [6][7]. - The redemption will be executed for all bondholders registered by the close of trading on September 1, 2025, with the redemption funds expected to reach the bondholders' accounts by September 9, 2025 [7][8]. Other Relevant Information - The company has confirmed that there were no transactions of the convertible bonds by major stakeholders in the six months leading up to the redemption conditions being met [8].

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].

Core Points - The company announced a rights change due to the conversion of convertible bonds, resulting in a dilution of the controlling shareholder's equity from 33.90% to 32.96% without a change in the number of shares held [1][2][3] - The company issued 2.5 million convertible bonds with a total value of 250 million yuan, approved by the China Securities Regulatory Commission, with a maturity of 6 years [1][2] - The initial conversion price of the bonds was set at 5.67 yuan per share, which has been adjusted to 5.36 yuan per share effective from May 30, 2025 [2] Rights Change Details - The total share capital of the company increased from 593,716,404 shares to 610,783,218 shares due to the conversion of bonds, resulting in a total of 17,066,814 shares being converted [2][3] - The controlling shareholder, Mr. Qu Jianguo, and his concerted actors, Mr. Qu Yaming and Ms. Wei Jia, held a total of 201,288,403 shares before the change, which remained unchanged after the conversion [2][3] - The equity dilution was a result of the bond conversion process, which does not affect the stability of the company's control or its governance structure [3][4]

Core Viewpoint - The company is announcing the forced redemption of its convertible bonds ("开能转债") at a price of 100.118 yuan per bond, urging bondholders to convert their bonds into shares before the deadline to avoid potential losses [1][2]. Group 1: Convertible Bond Details - The company issued 2.5 million convertible bonds with a total value of 250 million yuan, with an initial conversion price of 5.67 yuan per share [3]. - The conversion price has been adjusted multiple times due to dividend distributions, with the latest adjustment bringing it to 5.36 yuan per share [4][5]. - The conditional redemption clause was triggered as the stock price was above 130% of the conversion price for at least 15 trading days within a specified period [6]. Group 2: Redemption Process - The redemption price is set at 100.118 yuan per bond, which includes accrued interest calculated based on the bond's face value and interest rate [7]. - The redemption will be executed for all bondholders registered by the redemption date, with the redemption funds expected to be transferred to their accounts shortly after [7][8]. - The company will publish announcements regarding the redemption results and the delisting of the bonds from the Shenzhen Stock Exchange [8].

Core Viewpoint - The company announces the forced redemption of its convertible bonds, "Kaineng Convertible Bonds," at a price of 100.118 yuan per bond, effective September 1, 2025, due to the significant difference between the market price and the redemption price, urging bondholders to convert their bonds before the deadline to avoid potential losses [1][2][3]. Group 1: Convertible Bond Details - The company issued 2.5 million convertible bonds with a total value of 250 million yuan, with an initial conversion price set at 5.67 yuan per share [3]. - The conversion price has been adjusted multiple times due to dividend distributions, with the latest adjustment bringing it to 5.36 yuan per share [5][6]. - The conditional redemption clause was triggered when the stock price exceeded 130% of the conversion price for at least 15 trading days within a 30-day period [2][5]. Group 2: Redemption Process - The redemption price is confirmed at 100.118 yuan per bond, which includes accrued interest calculated based on the bond's face value and interest rate [7]. - The redemption will be executed for all bondholders registered by the close of trading on September 1, 2025, with the redemption funds expected to reach the bondholders' accounts by September 9, 2025 [7][8]. - The company emphasizes the importance of timely conversion and provides contact information for inquiries regarding the redemption process [8][9].

证券简称：开能健康 证券代码：300272 债券简称：开能转债 债券代码：123206 开能健康科技集团股份有限公司 向不特定对象发行可转换公司债券 债券受托管理人 二零二五年八月 重要声明 本报告依据《可转换公司债券管理办法》（以下简称"管理办法"）、《公 司债券受托管理人执业行为准则》《开能健康科技集团股份有限公司向不特定对 象发行可转换公司债券募集说明书》（以下简称"《募集说明书》"）、《开能 健康科技集团股份有限公司与长江证券承销保荐有限公司之可转换公司债券受 托管理协议》（以下简称"《受托管理协议》"）等相关规定、公开信息披露文 件、开能健康科技集团股份有限公司（以下简称"公司"、"开能健康"或"发 行人"）出具的相关说明文件以及提供的相关资料等，由受托管理人长江证券承 销保荐有限公司（以下简称"受托管理人"或"长江保荐"）编制。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜做出独立判断，而不应将本报告中的任何内容据以作为长江保荐所作的承诺 或声明。在任何情况下，未经长江保荐书面许可，不得用作其他任何用途，投资 者依据本报告所进行的任何作为或不作为，长江保荐不承担任何责任 ...

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].

证券代码：300272 证券简称：开能健康 公告编号：2025-059 债券代码：123206 债券简称：开能转债 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。 重要提示： 司深圳分公司（以下简称"中国结算"）核准的价格为准。 摘牌。债券持有人持有的"开能转债"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。 票适当性管理要求的，不能将所持"开能转债"转换为股票，特提请投资者关 注不能转股的风险。 （2）2024 年 1 月 17 日，公司披露《关于可转换公司债券转股价格调整的 （公告编号：2024-003），因公司实施向全体股东每 10 股派发现金红利 0.55 公告》 元人民币（含税）的特别分红权益分派方案，根据《募集说明书》的相关规定， "开能转债"的转股价格由 5.67 元/股调整为 5.62 元/股。调整后的转股价格自 （3）2024 年 5 月 21 日，公司披露《关于可转换公司债券转股价格调整的 公告》（公告编号：2024-049），因公司实施向全体股东每 10 股派发现金红利 1 元人民币（含税） ...