| 代码 | 简称 | | 涨跌幅% ↓ | | --- | --- | --- | --- | | 123241.SZ | 欧通转债 | 592.86 | 15.15 | | 123260.SZ | 卓镁转债 | 173.854 | 10.52 | | 113667.SH | 春23转债 | 180.939 | 7.18 | | 118048.SH | 利扬转债 | 212.401 | 6.10 | | 123203.SZ | 明电转02 | 144.147 | 5.68 | | 113687.SH | 振华转债 | 411.396 | 4.68 | | 123222.SZ | 博俊转债 | 210.835 | 4.58 | | 110096.SH | 豫光转债 | 182.7 | 3.80 | | 代码 | 简称 | 最新 | 涨跌幅% ↑ | | 113695.SH | 华辰转债 | 160.878 | -7.84 | | 113575.SH | 东时转债 | 249.85 | -3.12 | | 123117.SZ | 健帆转债 | 118.552 | -1.66 | | 123234.SZ | 中能 ...

（文章来源：证券日报） 证券日报网讯 11月24日晚间，明阳电路发布公告称，根据安排，截至2025年12月11日收市后仍未转股 的"明电转02"，将按照100.44元/张的价格强制赎回，因目前"明电转02"二级市场价格与赎回价格存在较 大差异，特别提醒"明电转02"持有人注意在限期内转股，如果投资者未及时转股，可能面临损失，敬请 投资者注意投资风险。 ...

（编辑 任世碧） 证券日报网讯 11月21日晚间，明阳电路发布公告称，根据安排，截至2025年12月11日收市后仍未转股 的"明电转02"将被强制赎回，本次赎回完成后，"明电转02"将在深圳证券交易所摘牌，特提醒"明电转 02"持券人注意在限期内转股。债券持有人持有的"明电转02"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。债券持有人若转股，需开通创业板交易 权限。投资者不符合创业板股票适当性管理要求的，不能将所持"明电转02"转换为股票，特提请投资者 关注不能转股的风险。 ...

Core Points - Mingyang Circuit announced that "Mingdian Convertible Bond 02" will be forcibly redeemed at a price of 100.44 CNY per share if not converted by the close of trading on December 11, 2025 [2] - The current market price of "Mingdian Convertible Bond 02" is significantly different from the redemption price, prompting the company to remind bondholders to convert their bonds within the specified period to avoid potential losses [2] Summary by Category - **Company Announcement** - Mingyang Circuit has issued a notice regarding the forced redemption of "Mingdian Convertible Bond 02" at 100.44 CNY per share if not converted by the deadline [2] - **Market Conditions** - There is a notable disparity between the secondary market price of "Mingdian Convertible Bond 02" and the redemption price, which raises concerns for investors [2] - **Investor Advisory** - The company has urged bondholders to pay attention to the conversion deadline to mitigate the risk of financial loss [2]

Summary of Key Points Core Viewpoint - The article discusses recent corporate actions and developments in the convertible bond market, highlighting shareholding changes, partnerships, and upcoming bond listings and trading dates. Group 1: Corporate Actions - Jia Mei Packaging's shareholders plan to reduce their holdings by no more than 1.16% of the company's shares [1] - Hailianxun's request for acquisition rights has ended, with trading resuming on November 19 [1] - Jiemai Technology's subsidiary, Rouzhen Technology, signed a cooperation development framework agreement with Ningde New Energy [1] Group 2: Convertible Bonds - The article lists various convertible bonds with their current prices, redemption prices, last trading dates, conversion values, remaining scales, and their proportion to the underlying stocks [1][4][6] - Notable upcoming bond listings include: - Qizhong Convertible Bond on November 21 - Maolai Convertible Bond on November 21 for subscription - Zhuomei Convertible Bond on November 24 - Other bonds with specific trading and conversion dates detailed [1][4][6] Group 3: Market Data - The article provides detailed tables of convertible bonds, including their current prices, conversion values, and market capitalization ratios, indicating the financial health and market positioning of these bonds [1][4][6]

Core Viewpoint - The announcement from Mingyang Circuit indicates that the company's stock price has consistently exceeded 130% of the conversion price for its convertible bonds, which may trigger conditional redemption clauses in the future [2] Summary by Relevant Sections - **Stock Performance** - From October 31, 2025, to November 13, 2025, the closing price of the company's stock has not fallen below 130% of the current conversion price for 10 trading days [2] - Specifically, from October 31 to November 3, the stock price was above 130% of the conversion price of 11.74 CNY/share (15.2620 CNY/share) for 2 trading days [2] - From November 4 to November 13, the stock price was above 130% of the conversion price of 11.76 CNY/share (15.2880 CNY/share) for 8 trading days [2] - **Conditional Redemption Clause** - If the stock price continues to meet the criteria of being above 130% of the conversion price for at least 15 out of any 30 consecutive trading days, the company’s board has the right to redeem all or part of the unconverted "Mingdian Convertible Bonds 02" at face value plus accrued interest [2]

Summary of Key Points Core Viewpoint - Mingyang Circuit announced the repurchase and cancellation of restricted stocks, impacting its total share capital and stock conversion price adjustments [2] Group 1: Stock Repurchase Details - The total number of restricted stocks repurchased and canceled is 1,109,700 shares, which accounts for 0.3064% of the company's total share capital of 362,129,111 shares as of October 30, 2025 [2] - The repurchase involved 52 incentive recipients, with a total repurchase fund of 7,427,403.90 yuan sourced from the company's own funds [2] - The completion of the repurchase and cancellation has reduced the company's total shares from 362,129,111 to 361,019,411 shares [2] Group 2: Stock Conversion Price Adjustment - Following the repurchase, the conversion price of "Mingdian Transfer 02" has been adjusted from 11.74 yuan per share to 11.76 yuan per share [2] - The effective date for this conversion price adjustment is November 4, 2025 [2]

Core Viewpoint - The company announces the mandatory redemption of its convertible bonds ("Mingdian Convertible Bonds") on September 8, 2025, at a price of 101.83 yuan per bond, urging investors to convert their bonds into shares before the deadline to avoid potential losses [1][2][3] Group 1: Redemption Details - The "Mingdian Convertible Bonds" will stop conversion after the market closes on September 5, 2025, with only one trading day left before the redemption date [1][2] - The redemption price is set at 101.83 yuan per bond, which includes accrued interest calculated based on a 2.5% annual interest rate [10][12] - The company has triggered the conditional redemption clause as the stock price met the required threshold for at least 15 trading days within a 30-day period [2][10] Group 2: Bond Issuance and Market Performance - The company issued 67.3 million convertible bonds with a face value of 100 yuan each, totaling 6.73 billion yuan, which were listed on the Shenzhen Stock Exchange on January 5, 2021 [3][4] - The initial conversion price was set at 24.23 yuan per share, later adjusted down to 11.89 yuan per share as of May 30, 2024, due to various factors including profit distribution [4][7][9] Group 3: Investor Guidance - Investors are advised to pay attention to the risks associated with the inability to convert their bonds if they are under pledge or freeze [2][3] - The company emphasizes the importance of timely conversion to avoid losses, given the significant difference between the market price and the redemption price [2][10]

Core Viewpoint - The company announces the redemption of its convertible bonds "Mingdian Convertible Bonds" (明电转债), which will stop trading after September 2, 2025, and will be forcibly redeemed at a price of 101.83 yuan per bond if not converted into shares by September 5, 2025 [1][2][3] Group 1: Redemption Details - The "Mingdian Convertible Bonds" will stop trading after the market closes on September 2, 2025, and will be forcibly redeemed at 101.83 yuan per bond if not converted by September 5, 2025 [1][2] - The company has triggered the conditional redemption clause as the stock price has met the requirement of being at least 130% of the conversion price for 15 out of 30 trading days [2][10] - The redemption price includes a calculated interest of approximately 1.83 yuan per bond, based on a 2.5% annual interest rate [10][12] Group 2: Conversion and Trading Risks - Investors are advised to convert their bonds into shares before the trading halt to avoid potential losses, as the market price may differ significantly from the redemption price [2][3] - The conversion price has been adjusted multiple times, with the latest adjustment setting it at 11.89 yuan per share [7][9] - The company emphasizes the importance of addressing any pledges or freezes on the bonds before the conversion deadline to avoid complications [2][12] Group 3: Company Governance and Compliance - The board of directors approved the early redemption of the bonds during a meeting on July 30, 2025, and authorized management to handle the redemption process [3][4] - The company has confirmed that no major shareholders or executives traded the bonds in the six months leading up to the redemption conditions being met [12] - The company will publish announcements regarding the redemption results and the delisting of the bonds from the Shenzhen Stock Exchange [12]

Core Viewpoint - Shenzhen Mingyang Circuit Technology Co., Ltd. reported a significant increase in revenue and net profit for the first half of 2025 compared to the same period in the previous year, indicating strong operational performance. Financial Performance - The company's operating revenue for the reporting period reached approximately 881.67 million yuan, representing a year-on-year increase of 13.11% from 779.48 million yuan [2]. - The net profit attributable to shareholders was approximately 41.51 million yuan, marking a substantial increase of 32.60% compared to 31.30 million yuan in the previous year [2]. - The net profit after deducting non-recurring gains and losses was not specified but is implied to have improved alongside overall profitability [2]. - The net cash flow from operating activities was approximately 78.05 million yuan, a decrease of 26.29% from 105.89 million yuan in the previous year [2]. - Basic and diluted earnings per share both increased to 0.12 yuan, up 20.00% from 0.10 yuan [2]. Asset and Equity Position - Total assets at the end of the reporting period were approximately 3.48 billion yuan, a slight increase of 0.56% from 3.46 billion yuan at the end of the previous year [3]. - The net assets attributable to shareholders were approximately 2.41 billion yuan, reflecting a marginal increase of 0.24% from 2.40 billion yuan [3]. Shareholder Information - The largest shareholder, Fengxian Runjiaxi Enterprise Management Co., Ltd., holds 47.64% of the shares, totaling 163.87 million shares [4]. - Other significant shareholders include Fengxian Shengjian Enterprise Management Co., Ltd. with 1.90% and Xinyu County Shenggaoying Venture Capital Co., Ltd. with 1.75% [4]. Debt and Financial Ratios - The company's debt-to-asset ratio was reported at 30.43%, a slight improvement from 30.65% in the previous year [6]. - The interest coverage ratio was reported at 15.47, indicating strong capacity to meet interest obligations [6]. Important Events - The company decided not to distribute cash dividends or issue bonus shares for the reporting period [2]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period [5].