Core Points - On August 25, 2025, China Chengxin International announced the termination of credit ratings for Anhui Chuangjiang Technology New Materials Co., Ltd. and related debt instruments [1][2] - The company had issued "Chuangjiang Convertible Bonds" in June 2020, which were rated by China Chengxin International [1] - As of May 14, 2025, the company's main credit rating was maintained at AA with a stable outlook, and the "Chuangjiang Convertible Bonds" also retained an AA rating [1] - On August 22, 2025, the company announced the full redemption of the "Chuangjiang Convertible Bonds," with a total redemption payment of 496,925.22 yuan [1] - The total balance of "Chuangjiang Convertible Bonds" as of the redemption registration date was 495,000 yuan, representing 0.027% of the total issuance [1] - Following the redemption, the bonds were delisted, and the company no longer had any outstanding bonds rated by China Chengxin International [1] Summary by Sections Credit Rating - China Chengxin International decided to terminate the credit ratings for Chuangjiang New Materials and its convertible bonds, effective immediately upon the announcement [2] - The previous ratings will no longer be updated [2] Bond Redemption - The company exercised its right to redeem all "Chuangjiang Convertible Bonds" as of August 13, 2025, with the redemption completed by August 21, 2025 [1] - The total amount paid for the redemption was 496,925.22 yuan, excluding redemption fees [1]

Group 1 - Chengxin International Credit Rating Co., Ltd. has terminated the credit rating for Anhui Chujian Technology New Materials Co., Ltd. and its related bond rating [1][2] - The company maintained a credit rating of AA with a stable outlook for the year 2025, as per the tracking rating report issued on May 14, 2025 [1] - The company exercised its early redemption rights for the "Chujian Convertible Bonds," redeeming all outstanding bonds, with a total redemption payment of 496,925.22 yuan [1] Group 2 - The termination of the credit rating and bond rating will take effect immediately upon the announcement, and the ratings will no longer be updated [2] - As of the announcement date, all "Chujian Convertible Bonds" have been redeemed and delisted, leaving no outstanding bonds rated by Chengxin International [1][2]

Summary of Key Points Core Viewpoint The announcement details the redemption of the convertible bond "楚江转债" by Anhui Chuangjiang Technology New Materials Co., Ltd., including the bond's issuance, trading, conversion price adjustments, and the conditions for early redemption. Group 1: Convertible Bond Issuance and Trading - The company issued convertible bonds amounting to 1.83 billion yuan with a six-year term, approved by the China Securities Regulatory Commission in June 2020 [1]. - The bonds were listed on the Shenzhen Stock Exchange on June 23, 2020, under the code "128109" [1]. - The initial conversion price was set at 8.73 yuan per share, which has been adjusted multiple times, with the latest adjustment bringing it down to 6.10 yuan per share [1][2]. Group 2: Conversion Price Adjustments - The conversion price has been adjusted several times due to annual profit distribution plans, with the most recent adjustment occurring on November 1, 2024, reducing the price to 6.10 yuan per share [2][3]. - The adjustments were made in accordance with the terms outlined in the bond's offering document [2][3]. Group 3: Redemption Conditions and Implementation - The company plans to exercise its right to redeem the bonds early, as the stock price has met the condition of being at least 130% of the current conversion price for 15 trading days [2][3]. - The redemption price is set at 100.389 yuan per bond, which includes accrued interest [3][4]. - The total amount to be redeemed is 496,925.22 yuan, covering 4,950 bonds that remain unconverted [5][6]. Group 4: Impact of Redemption - The redemption will not significantly impact the company's financial status, operating results, or cash flow, as it represents only 0.027% of the total issuance [5][6]. - Following the redemption, the bonds will be delisted from the Shenzhen Stock Exchange on August 22, 2025 [7]. - The total number of shares increased by 299,557,844 due to conversions during the bond's term, which may dilute earnings per share in the short term [6][7].

证券代码：002171 证券简称：楚江新材 公告编号：2025-098 债券代码：128109 债券简称：楚江转债 安徽楚江科技新材料股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 特别提示： 一、"楚江转债"的基本情况 （一）可转债发行情况 经中国证券监督管理委员会"证监许可[2020]353 号"文核准，安 徽楚江科技新材料股份有限公司（以下简称"公司"）于 2020 年 6 月 额 18.30 亿元，期限六年。 （二）可转债上市情况 经深圳证券交易所"深证上[2020]532 号"文同意，公司可转换公 司债券于 2020 年 6 月 23 日在深圳证券交易所挂牌交易， 债券简称"楚 江转债"，债券代码"128109"。 （三）可转债转股期限 根据相关法律、法规和《安徽楚江科技新材料股份有限公司公开 发行 A 股可转换公司债券募集说明书》（以下简称《募集说明书》） 的有关规定，公司本次可转债转股期自可转债发行结束之日（2020 年 转债到期日（2026 年 6 月 3 日）止。 （四）可转债转股价格调整情况 本次发行可转债的初始转股价格为 8 ...

Core Points - The company announces the upcoming cessation of conversion for "Chuangjiang Convertible Bonds" and urges investors to convert their bonds before the deadline [1][2] - The board of directors has decided to exercise the early redemption rights for "Chuangjiang Convertible Bonds" based on current market conditions [2][6] - The bonds were issued on June 4, 2020, with a total amount of 1.83 billion yuan and a maturity period of six years [2][3] Summary by Sections Important Announcement - "Chuangjiang Convertible Bonds" will stop trading on August 11, 2025, and conversion will cease after the market closes on August 13, 2025 [1][8] - Investors are advised to read the announcement carefully and understand the risks associated with the final conversion period [1][2] Bond Details - The initial conversion price was set at 8.73 yuan per share, which has been adjusted to 6.10 yuan per share [3][5] - The bond has a coupon rate of 2.00%, and the redemption price will be based on the approved price by the China Securities Depository and Clearing Corporation [1][7] Redemption Conditions - The company will redeem the bonds if the stock price has been at least 130% of the conversion price for 15 trading days within a 30-day period [6][7] - The redemption price is calculated to be 100.389 yuan per bond, including interest [7][8] Redemption Process - The redemption date is set for August 14, 2025, and the bonds will be delisted from the Shenzhen Stock Exchange after the redemption [8][9] - Holders must apply for conversion through their respective securities companies, and the minimum conversion unit is one bond [9][10]

Core Points - Chujiang New Materials announced that the "Chujiang Convertible Bonds" have ceased trading, urging investors to convert their bonds within the specified period [2] - The last conversion date for the "Chujiang Convertible Bonds" is August 13, 2025, and investors can convert their bonds until the market closes on that day [2] - After the market closes on August 13, 2025, any unconverted "Chujiang Convertible Bonds" will stop conversion and be redeemed [2] - As of the market close on August 12, 2025, there is only one trading day left before the bonds stop conversion and redemption [2] - Investors who fail to convert in time may face potential losses [2]

Group 1 - The controlling shareholder, Anhui Chuangjiang Investment Group Co., Ltd., has announced the release of part of its pledged shares in Chuangjiang New Materials [1] - A total of 60,000,000 shares were released from pledge, which accounts for 15.14% of the shares held by Chuangjiang Group and 3.71% of the company's total shares [1] - As of the announcement date, Chuangjiang Group has pledged a total of 396,206,546 shares, representing 24.48% of the company's total share capital [2] Group 2 - The pledged shares do not pose a risk of forced liquidation, and the pledge will not affect the company's operations or governance [3] - Chuangjiang Group's credit status is good, indicating its ability to fulfill obligations related to the pledged shares [3] - The company will continue to monitor the pledge situation and disclose relevant information as required [3]

Core Viewpoint - The company announces the early redemption of "Chuangjiang Convertible Bonds" and the cessation of conversion rights after a specified date, urging investors to convert their bonds before the deadline to avoid potential losses [1][2][6]. Group 1: Bond Redemption Details - The company has decided to exercise its right for early redemption of "Chuangjiang Convertible Bonds" based on current market conditions and internal assessments [2][6]. - The total issuance of "Chuangjiang Convertible Bonds" was 18.30 billion yuan, with a face value of 100 yuan per bond, and the bonds were issued on June 4, 2020 [2][3]. - The bonds will be redeemed at a price of 100.389 yuan per bond, which includes accrued interest [7][8]. Group 2: Conversion and Trading Information - The conversion period for the bonds started on December 10, 2020, and will end on June 3, 2026 [3]. - The latest adjusted conversion price is 6.10 yuan per share, down from the initial price of 8.73 yuan per share [3][4]. - The bonds will stop trading on August 11, 2025, and the redemption registration date is set for August 13, 2025 [8][9]. Group 3: Investor Guidance - Investors are advised to convert their bonds before the conversion ceases on August 14, 2025, to avoid losses [1][2]. - The company emphasizes that bondholders with pledged or frozen bonds should resolve these issues before the conversion deadline [2][6]. - The minimum conversion unit is one bond, and any remaining balance after conversion will be paid in cash within five trading days [9][10].

Group 1 - The core point of the article is that Chujiang New Materials announced the potential for a significant difference between the redemption price of "Chujiang Convertible Bonds" and the market price before trading and conversion stops, urging holders to convert their bonds within the specified period to avoid losses [1] Group 2 - The company issued a reminder to investors about the importance of timely conversion to mitigate potential financial risks [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]