Summary of Key Points Core Viewpoint - The company, Jiangxi Zhite New Materials Co., Ltd., has announced the early redemption of its convertible bonds, "Zhite Convertible Bonds," due to the stock price meeting the conditions for redemption as outlined in the bond issuance terms [1][2]. Group 1: Convertible Bond Issuance and Redemption - The company issued 6.14033 million convertible bonds at a face value of 100 RMB each, raising a total of 614.033 million RMB on March 31, 2023 [1]. - The redemption was triggered as the company's stock price was at least 130% of the conversion price for 15 out of 30 consecutive trading days [1][2]. - The board approved the early redemption of the bonds during a meeting on July 9, 2025 [1]. Group 2: Redemption Implementation Details - The redemption price will be based on the closing price on the redemption registration date, August 7, 2025 [2]. - Key dates include: - Trading halt on August 5, 2025 - Redemption registration on August 7, 2025 - Redemption date on August 8, 2025 - Funds to be credited to investors' accounts by August 15, 2025 [2]. - A total of 18,102 bonds will be redeemed, amounting to 1,816,716.72 RMB [2]. Group 3: Impact of Redemption - The total face value of the redeemed bonds is 1,810,200 RMB, representing 0.29% of the total issuance, which will not significantly impact the company's financial status or cash flow [3]. - The conversion of the bonds has resulted in an increase of 62,630,823 shares, which may dilute earnings per share in the short term [4]. Group 4: Stock Structure Changes - Following the conversion and redemption, the total share capital will increase to 411,973,975 shares, with the proportion of unrestricted shares rising significantly [4]. - The convertible bonds will be delisted from the Shenzhen Stock Exchange on August 18, 2025 [4].

Core Viewpoint - Jiangxi Zhite New Materials Co., Ltd. has fully redeemed its convertible bonds "Zhite Convertible Bonds" and will delist them from the Shenzhen Stock Exchange on August 18, 2025 [1][6]. Convertible Bond Basic Information - The company issued convertible bonds amounting to RMB 614.03 million on March 31, 2023, with the bonds listed on April 21, 2023, under the name "Zhite Convertible Bonds" and code "123186" [1]. - The initial conversion price was set at RMB 41.08 per share, which has been adjusted multiple times, with the latest adjustment bringing it down to RMB 8.86 per share as of the announcement date [2]. Conversion Period and Price Adjustments - The conversion period for the bonds started on October 9, 2023, and will end on March 30, 2029 [2]. - The conversion price has undergone several adjustments, including a reduction to RMB 40.99 per share on July 3, 2023, and further adjustments planned for future dates [2][3]. Redemption and Delisting - As of the redemption registration date on August 7, 2025, there were 18,102 bonds remaining unconverted, which were fully redeemed at a total cost of RMB 1,816,716.72 [5][6]. - Following the complete redemption, the "Zhite Convertible Bonds" will no longer be traded and will be delisted from the Shenzhen Stock Exchange on August 18, 2025 [6].

Core Viewpoint - The company announced the full redemption of its "Zhite Convertible Bonds" and the complete payment of the redemption amount, with the bonds set to be delisted on August 18, 2025 [1] Group 1 - The company received a report from China Securities Depository and Clearing Corporation Limited Shenzhen Branch regarding the redemption results of the bonds [1] - The "Zhite Convertible Bonds" were fully redeemed as of August 15, 2025 [1] - The delisting of the bonds is scheduled for August 18, 2025, in accordance with the relevant business rules of the Shenzhen Stock Exchange [1]

Group 1: New Stock Issuances - China Heavy Industry (601989) has a cash option declaration period from August 13, 2025[1] - China Shipbuilding (600150) has a buyback request period from August 13 to August 15, 2025[1] - Shenkai Co. (002633) has a tender offer period from July 29 to August 27, 2025[1] Group 2: Tender Offers and Mergers - ST Kelly (300326) has a tender offer period from July 17 to August 15, 2025[1] - Fushun Special Steel (600399) has a tender offer period from August 12 to September 10, 2025[1] - China Heavy Industry (601989) is involved in an absorption merger[1] Group 3: Abnormal Fluctuations - Tianlu Convertible Bond (110060) reported severe abnormal fluctuations on July 30, 2025[2] - Henghe Precision (300539) reported abnormal fluctuations on July 29, 2025[2] - ST Suwu (600200) reported abnormal fluctuations on August 6, 2025[2]

Core Viewpoint - The announcement from Zhite New Materials highlights a significant discrepancy between the redemption price of "Zhite Convertible Bonds" and their market price prior to suspension of trading and conversion, warning bondholders of potential losses if they do not convert in time [1] Group 1 - Zhite New Materials announced the redemption price of "Zhite Convertible Bonds" is significantly different from the market price before trading suspension [1] - The company emphasizes the importance for bondholders to convert their bonds within the specified timeframe to avoid forced redemption losses [1] - Investors are advised to be cautious regarding investment risks associated with the "Zhite Convertible Bonds" [1]

Core Viewpoint - The company has triggered the conditional redemption of its convertible bonds due to the stock price meeting specific criteria, leading to a mandatory redemption at a price of 100.36 CNY per bond on August 8, 2025 [1][2][7]. Group 1: Convertible Bond Redemption - The company announced that investors can still convert their bonds until the market close on August 7, 2025, after which unconverted bonds will be forcibly redeemed [1][2]. - The conditional redemption was triggered as the stock price met the requirement of being at least 130% of the conversion price (11.52 CNY) for at least 15 out of 30 trading days [2][7]. - The redemption price is set at 100.36 CNY per bond, which includes accrued interest calculated based on the bond's face value and interest rate [1][8]. Group 2: Bond Issuance and Terms - The company issued convertible bonds worth 614.03 million CNY on March 31, 2023, with a conversion period from October 9, 2023, to March 30, 2029 [2][3]. - The initial conversion price was set at 41.08 CNY per share, which has been adjusted to 8.86 CNY per share as of the announcement date [3][4]. - The company has the right to redeem the bonds if the unconverted balance falls below 30 million CNY or if the stock price conditions are met [6][7]. Group 3: Redemption Process and Investor Guidance - The redemption process will involve notifying bondholders and ensuring that the redemption amount is transferred to their accounts through the bond custodians [8][9]. - Investors are advised to convert their bonds before the deadline to avoid forced redemption, which could lead to potential losses [1][2].

New Stock Issuance - Guangdong JianKe issued new shares at a price of 6.56 on August 1, 2025[1] - ShenKe Co., Ltd. has a tender offer period from July 29 to August 27, 2025[1] - ST Kelly's tender offer period is from July 17 to August 15, 2025[1] Market Alerts - ST Zitian reported significant abnormal fluctuations on July 21, 2025[1] - ST Suwu experienced abnormal fluctuations on July 30, 2025[1] - ST Xizang Tianlu reported significant abnormal fluctuations on August 1, 2025[1] Other Notable Announcements - Huaneng Electric's announcement was made on August 1, 2025, regarding its stock code 603063[1] - ST Sai Long's announcement was made on August 1, 2025, with stock code 002898[1] - ST Green Kang's announcement was made on July 31, 2025, with stock code 002868[1]

Key Points - The company announced that the "Z Special Convertible Bond" will stop trading after the market closes on August 4, 2025, and will be forcibly redeemed at a price of 100.36 CNY per bond after the market closes on August 7, 2025, for those not converted into shares [1][2] - The bondholders are advised to convert their bonds into shares within the remaining five trading days to avoid forced redemption [1][2] - The company’s stock price has met the condition for early redemption of the convertible bonds, as it has been above 130% of the conversion price (11.52 CNY) for at least 15 out of 30 trading days from June 19 to July 9, 2025 [2][7] - The total amount of convertible bonds issued was 614.03 million CNY, with a conversion period from April 7, 2023, to March 30, 2029 [2][3] - The initial conversion price was set at 41.08 CNY per share, which has been adjusted to 8.86 CNY per share as of the announcement date [3][4] - The company has the right to redeem the bonds if the remaining unconverted bonds are less than 30 million CNY or if the stock price conditions are met [6][7] - The redemption price includes accrued interest calculated based on a 1% annual interest rate for 130 days, resulting in a total redemption price of approximately 100.36 CNY per bond [8][9] - The redemption process will be completed after the announcement, and the bonds will be delisted from the Shenzhen Stock Exchange [9][10] - The company’s major shareholders and executives have not traded the convertible bonds in the six months leading up to the redemption condition being met [9]

（文章来源：证券日报） 证券日报网讯 7月29日晚间，志特新材发布公告称，本次"志特转债"的赎回价格可能与其停止交易和停 止转股前的市场价格存在较大差异，若持有人未及时转股而被强制赎回，可能面临损失，特别提醒"志 特转债"持有人注意在限期内转股，敬请投资者注意投资风险。 ...

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