Core Viewpoint - The article discusses the recent proposals and decisions regarding various convertible bonds, including adjustments and redemption statuses, indicating a mixed sentiment in the market for these financial instruments [1][3][5]. Summary by Categories Convertible Bond Proposals - Jingneng Convertible Bond has proposed a downward adjustment [1]. - Jizhi, Hangyu, and Songlin Convertible Bonds will not be forcibly redeemed [1]. - Aowei, Wei22, and Hengyi Convertible Bonds will not undergo downward adjustments [1]. - Qizhong Convertible Bond is set for subscription on November 3 [1]. - Funi Convertible Bond has been listed [1]. Current Prices and Redemption Information - The current price of Montai Convertible Bond is 141.799, with a redemption price of 101.190, and the last trading day is October 24, 2025 [3]. - New23 Convertible Bond is priced at 144.636, with a redemption price of 100.219, and the last trading day is also October 24, 2025 [3]. - Enjie Convertible Bond has a current price of 127.714 and a redemption price of 101.440, with the last trading day on October 27, 2025 [3]. - Zshi Convertible Bond is priced at 137.805, with a redemption price of 100.190, and the last trading day is October 29, 2025 [3]. - Zchang Convertible Bond has a current price of 117.358, with a redemption price of 101.151, and the last trading day is October 29, 2025 [3]. Market Capitalization and Conversion Ratios - The remaining scale of Zshi Convertible Bond is 0.598 billion, with a market cap ratio of 0.96% [3]. - The remaining scale of Zchang Convertible Bond is 0.638 billion, with a market cap ratio of 1.83% [3]. - The remaining scale of Niutai Convertible Bond is 0.745 billion, with a market cap ratio of 2.71% [3]. - The remaining scale of Chunqiu Convertible Bond is 0.653 billion, with a market cap ratio of 0.98% [3]. - The remaining scale of Sheng24 Convertible Bond is 10.035 billion, with a market cap ratio of 6.24% [3].

Core Viewpoint - Hengyi Petrochemical's subsidiary, Guangxi Hengyi New Materials, has successfully entered the trial production phase of its integrated caprolactam-nylon project, which has an annual production capacity of 1.2 million tons, marking a significant milestone for the company [1][2]. Project Overview - The project is located in the Qinzhou Port Petrochemical Park, covering an area of 1,717 acres, and includes production facilities for 2*300,000 tons/year of cyclohexanone, 2*400,000 tons/year of hydrogen peroxide, 300,000 tons/year of synthetic ammonia, 100,000 standard cubic meters/hour of hydrogen, 2*300,000 tons/year of caprolactam, and 2*300,000 tons/year of nylon polymerization, along with supporting infrastructure [2]. - The project leverages several proprietary technologies and advanced energy-saving techniques, which are expected to significantly reduce production costs [2]. - The integrated nature of the project optimizes energy and resource consumption, achieving industry-leading efficiency [2]. - The product range includes civilian fibers, engineering plastics, and films, with anticipated rapid growth in nylon demand due to industrial development and localization trends in China [2]. Project Significance - The Qinzhou project aligns with national industrial development goals and is expected to drive high-quality growth for the industry and the company [3]. - It will enable a leap in caprolactam production capacity, enhancing the company's market influence and competitiveness in the nylon sector [3]. - The project supports the deepening of the company's integration strategy, extending the aromatic downstream industrial chain and achieving efficient collaboration and resource optimization across the supply chain [3]. - Overall, the project is projected to significantly enhance the company's competitive strength and profitability, positively impacting its long-term operational performance [3].

证券日报网讯 10月22日晚间，恒逸石化发布公告称，2025年10月9日至2025年10月22日，公司股票已有 10个交易日的收盘价低于当期转股价格的85%，预计触发转股价格向下修正条件。若触发转股价格修正 条件，公司将按照募集说明书的约定及时履行后续审议程序和信息披露义务。敬请广大投资者注意投资 风险。 （文章来源：证券日报） ...

Core Viewpoint - The company, Hengyi Petrochemical, will pay the fifth-year interest on its convertible bonds on October 16, 2025, at a rate of 1.5% for the period from October 16, 2024, to October 15, 2025, with a total interest payment of 15.00 CNY for every 10 bonds held [2][12]. Summary by Sections Bond Basic Information - The convertible bonds, named "Hengyi Convertible Bonds," were issued with a total scale of 2 billion CNY, consisting of 20 million bonds, each with a face value of 100 CNY [2][8]. - The bonds have a maturity period of 6 years, from October 16, 2020, to October 15, 2026 [2][8]. Interest Payment Details - The interest rates for the bonds are structured as follows: 0.2% for the first year, 0.4% for the second year, 0.6% for the third year, 1.2% for the fourth year, 1.5% for the fifth year, and 2.0% for the sixth year [3][10]. - The interest payment will be made annually, with the next interest period starting on October 16, 2025 [2][6]. Taxation Information - Individual investors will have a 20% tax withheld on the interest income, resulting in a net payment of 12.00 CNY for every 10 bonds after tax [12][15]. - Qualified foreign institutional investors (QFII and RQFII) are exempt from corporate income tax and value-added tax, receiving the full interest amount of 15.00 CNY for every 10 bonds [12][15]. Bondholder Eligibility - The interest payment is applicable to all bondholders registered with the China Securities Depository and Clearing Corporation as of October 15, 2025 [13][14]. Contact Information - The company provides contact details for inquiries regarding the bonds, including the address and phone numbers for Hengyi Petrochemical and its underwriting institution, CITIC Securities [16].

Group 1 - The core point of the announcement is the adjustment of the conversion prices for the company's convertible bonds, "恒逸转债" and "恒逸转2", due to annual profit distribution plans and other corporate actions [1][2][3][4][5][6][7][8]. - The conversion price for "恒逸转债" has been adjusted multiple times: from 11.50 to 11.20 yuan/share on July 6, 2021, to 11.00 yuan/share on July 7, 2022, to 10.91 yuan/share on June 26, 2024, and finally to 10.41 yuan/share on November 19, 2024 [1][3][5]. - The conversion price for "恒逸转2" was initially set at 10.50 yuan/share and was adjusted to 10.41 yuan/share on June 26, 2024, and further adjusted to 10.15 yuan/share on June 20, 2025 [6][7][8]. Group 2 - The company has issued a total of 200,000 million yuan of "恒逸转债" which has been listed on the Shenzhen Stock Exchange since November 16, 2020 [2]. - The total share capital of the company before the recent adjustments was 3,666,321,336 shares, which increased to 3,666,321,624 shares after the adjustments [9]. - The company distributed cash dividends of 3.00 yuan per 10 shares for the 2020 fiscal year and 1.00 yuan per 10 shares for the 2023 fiscal year [3][4][8].

Group 1 - The board of directors of Hengyi Petrochemical held its 24th meeting on June 30, 2025, with all 9 directors present, complying with relevant laws and regulations [1] - The board approved the proposal regarding the downward adjustment of the conversion price for "Hengyi Convertible Bonds," as the stock price had been below 85% of the conversion price for 15 trading days as of June 30, 2025 [1] Group 2 - Due to various factors affecting the company's stock price, which does not reflect its long-term intrinsic value, the board decided not to exercise the downward adjustment of the conversion price for "Hengyi Convertible Bonds" for the next three months (July 1, 2025, to September 30, 2025) [2] - If the adjustment conditions are triggered again after this period, the board will reconvene to decide on the adjustment rights, with the next triggering period starting from October 9, 2025 [2] - The voting results for the decision were unanimous, with 9 votes in favor and no opposition or abstentions [2]

Core Viewpoint - The article discusses recent developments in convertible bonds and stock holdings of various companies, highlighting significant actions such as share conversions and planned reductions in shareholdings by major stakeholders [1]. Group 1: Convertible Bonds - Cinda Investment will convert its holdings of 23.57% of the Pudong Development Bank convertible bonds into shares [1]. - The Electric Chemical convertible bond is set to be listed on July 4 [1]. - The Hengyi and Jinko convertible bonds will not undergo adjustments [1]. - The Libor convertible bond is available for subscription on July 3 [1]. - The Ber25 convertible bond is also open for subscription [1]. Group 2: Shareholding Changes - Ruichuang Micro-Nano's shareholders plan to reduce their holdings by no more than 1.75% of the company's shares [1]. - New shares from Tongyu New Materials are available for subscription on the Shanghai and Shenzhen stock exchanges [1]. Group 3: Market Activity - The Hong Kong stock market is currently closed [1].

Key Points - The company has issued convertible bonds with a total amount of 2 billion yuan, which began trading on November 16, 2020 [1] - The conversion period for the bonds is from April 22, 2021, to October 15, 2026 [2] - The conversion price has been adjusted multiple times due to profit distribution, with the latest adjustment reducing it to 10.91 yuan per share effective June 26, 2024 [3] - A recent board meeting approved a further reduction of the conversion price to 9.20 yuan per share, effective from November 2024 [4] - The company has outlined specific conditions under which the conversion price can be adjusted downward, including a scenario where the stock price falls below 85% of the current conversion price for at least 15 trading days [5] - The company is required to disclose any adjustments to the conversion price in accordance with regulatory guidelines [6]

Group 1 - The company announced an adjustment to the conversion price of its convertible bonds, "恒逸转债," from 10.91 yuan/share to 9.20 yuan/share, effective from November 2024 [2][3] - The adjustment is based on the company's annual equity distribution, which includes a cash dividend of 0.50 yuan per 10 shares, resulting in a total cash dividend of approximately 165 million yuan [5][6] - The new conversion price after the adjustment will be 9.15 yuan/share, calculated by deducting the cash dividend from the previous conversion price [6] Group 2 - The company has a history of adjusting the conversion price of its bonds due to annual equity distributions, with previous adjustments made in 2021 and 2022 [1][2] - The conversion period for "恒逸转债" is set from April 22, 2021, to October 15, 2026 [6] - The company ensures that the total share capital remains unchanged after the equity distribution, maintaining the principle of unchanged market value [5]

Core Viewpoint - The company has approved the 2024 annual equity distribution plan, which includes a cash dividend of 0.50 RMB per 10 shares, with a total cash distribution amounting to 165,017,526.75 RMB, after excluding repurchased shares from the total share count [1][3][4]. Group 1: Equity Distribution Plan - The equity distribution plan is based on a total share count of 3,666,321,624 shares, minus 365,971,089 repurchased shares, resulting in a base of 3,300,350,535 shares for the cash dividend calculation [3][4]. - The cash dividend per share is calculated as 0.0450090 RMB, which will be used to adjust the ex-dividend price accordingly [2][6]. - The ex-dividend date is set for June 20, 2025, with the record date being June 19, 2025 [5]. Group 2: Shareholder Rights and Taxation - Shares held in the company's repurchase account will not participate in the profit distribution, meaning those shares are excluded from the dividend calculation [3][4]. - Different tax rates apply for various categories of shareholders, with specific provisions for foreign investors and domestic funds regarding dividend tax [4][5]. Group 3: Convertible Bonds Adjustment - The conversion prices for the company's convertible bonds will be adjusted following the equity distribution, with "恒逸转债" changing from 9.20 RMB to 9.15 RMB per share, and "恒逸转2" from 10.41 RMB to 10.36 RMB per share, effective from June 20, 2025 [5][6].