Core Viewpoint - Chongqing Zhengchuan Pharmaceutical Packaging Materials Co., Ltd. has elected a new employee representative director and made significant decisions regarding its board of directors and convertible bond price adjustments [1][4][29]. Group 1: Election of Employee Representative Director - The company held an employee representative meeting on October 14, 2025, where Mr. Chen Jiyang was elected as the employee representative director for the fifth board of directors [1]. - The new board consists of nine members, including the employee representative director, which complies with legal and regulatory requirements [1][4]. Group 2: Board of Directors Meeting - The first meeting of the fifth board of directors was held on October 14, 2025, with all nine directors present [5][6]. - The meeting approved the exemption of notification period requirements for the meeting, allowing for timely progress on board-related matters [7]. Group 3: Convertible Bond Price Adjustment - The board proposed a downward adjustment of the "Zhengchuan Convertible Bond" conversion price due to the stock price falling below 90% of the conversion price for at least 15 trading days [9][39]. - The conversion price was adjusted from 45.77 yuan per share to 20.07 yuan per share, effective from October 16, 2025 [10][34]. - The bond will be suspended from conversion on October 15, 2025, and will resume conversion on October 16, 2025 [30][42]. Group 4: Board of Directors Composition and Appointments - The fifth board of directors includes five non-independent directors, three independent directors, and one employee representative director, with a term of three years [45][48]. - Mr. Deng Yong was elected as the chairman of the board, and Mr. Deng Qiuhan was appointed as the general manager [12][15]. - Other key appointments include vice general managers, a financial officer, a board secretary, and a securities representative, all with a term of three years [18][21][24].

Core Viewpoint - The article provides an overview of recent developments in the convertible bond market, including new issuances and important announcements regarding existing bonds [1][6]. Group 1: New Issuances - Jinlang will be available for subscription on October 17 [1]. - Super Electronics and Taikai Ying are also highlighted as new stock subscriptions on the Shanghai and Shenzhen exchanges and the Beijing Stock Exchange, respectively [1]. Group 2: Important Announcements - The announcement regarding the adjustment of Zhengchuan Convertible Bond was made on October 15, 2025 [1]. Group 3: Convertible Bond Data - A detailed table lists various convertible bonds, including 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 [3][5]. - For example, the current price of Jiuzhou Convertible Bond 2 is 123.799, with a strong redemption price of 102.040, and a conversion value of 125.18 [3]. - The remaining scale of Changji Convertible Bond is 4.964 billion, with a conversion value of 126.41 [3].

Core Viewpoint - The announcement details the conversion results of the convertible bonds issued by Chongqing Zhengchuan Pharmaceutical Packaging Materials Co., Ltd., highlighting the limited conversion activity and the remaining outstanding bonds. Group 1: Convertible Bond Conversion Status - As of September 30, 2025, a total of RMB 170,000.00 of "Zhengchuan Convertible Bonds" has been converted into company shares, resulting in 3,652 shares, which represents 0.0024% of the company's total issued shares before conversion [2][7] - During the quarter from July 1, 2025, to September 30, 2025, RMB 71,000 of "Zhengchuan Convertible Bonds" was converted into company shares, resulting in 1,550 shares [2][7] Group 2: Outstanding Convertible Bonds - As of September 30, 2025, the amount of "Zhengchuan Convertible Bonds" that has not been converted is RMB 404,830,000.00, accounting for 99.9580% of the total issuance [2][8] Group 3: Convertible Bond Issuance Overview - The company issued 4.05 million convertible bonds on April 28, 2021, with a total fundraising amount of RMB 405,000,000, a maturity of 6 years, and a tiered interest rate structure [3][4] - The initial conversion price was set at RMB 46.69 per share, with adjustments made due to annual equity distributions [5][6][7]

Group 1 - The core viewpoint of the article discusses recent developments in convertible bonds, including proposals for adjustments and shareholder actions [1][2][4][6] - Zhengchuan Convertible Bond has proposed a downward adjustment [1][2] - Outoong Convertible Bond will not be forcibly redeemed [1][2] - Haibo Heavy Industry plans to reduce its holdings by no more than 1% of repurchased shares [1] - Guanzhong Ecology is planning a change in control and has suspended trading [1] - Ruifeng High Materials' shareholders intend to reduce their holdings by no more than 0.96% [1] Group 2 - A table lists various convertible bonds with 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 current price of Jiaojian Convertible Bond is 162.161, with a redemption price of 100.044, and a conversion value of 162.90 [4] - The remaining scale of Jinxian Convertible Bond is 0.145 billion, with a market value ratio of 0.39% [4] - The current price of Dongjie Convertible Bond is 261.820, with a conversion value of 265.84 and a remaining scale of 0.731 billion [4]

Group 1 - The company held its 24th meeting of the 4th Board of Directors on September 19, 2025, with all 9 directors present, confirming the legality and validity of the meeting procedures [2][3][5] - The Board proposed to lower the conversion price of the "Zhengchuan Convertible Bonds" due to the stock price being below 90% of the conversion price for at least 15 out of the last 30 trading days [3][9][10] - The adjustment of the conversion price requires approval from the shareholders' meeting, and the new price must not be lower than the higher of the average stock price over the last 20 trading days or the previous trading day's average [3][11][18] Group 2 - The company issued 4.05 million convertible bonds on April 28, 2021, with a total fundraising amount of RMB 405 million, and the bonds have a maturity of 6 years [12][13] - The initial conversion price was set at RMB 46.69 per share, which has been adjusted multiple times due to equity distributions, with the latest price being RMB 45.77 per share [14][15][16] - The company plans to ensure the smooth execution of the conversion price adjustment by seeking authorization from the shareholders' meeting to handle related matters [4][19] Group 3 - The company will participate in the "2025 Investor Online Reception Day" on September 25, 2025, to enhance investor relations and governance [21][22] - Senior management will engage with investors through an online platform to address their concerns in a one-to-many format [22]

Group 1 - The company announced a proposal to adjust the conversion price of "Zhengchuan Convertible Bonds" during the 24th meeting of its fourth board of directors [2]

Group 1 - The company announced the results of the bond repurchase for "Zhengchuan Convertible Bond" with a repurchase price of 100.35 RMB per bond, including current interest [1][2] - The repurchase period was from June 20, 2025, to June 26, 2025, during which the effective repurchase applications amounted to 0 bonds and 0 RMB [1][2] - The company will not need to handle any subsequent payment processes to investors as there were no valid repurchase applications [2] Group 2 - The repurchase of "Zhengchuan Convertible Bond" will not have a significant impact on the company's cash flow, asset status, or share capital [2] - Unredeemed "Zhengchuan Convertible Bonds" will continue to be traded on the Shanghai Stock Exchange [2]

Key Points - The company, Chongqing Zhengchuan Pharmaceutical Packaging Materials Co., Ltd., will initiate the conditional redemption of its convertible bonds, Zhengchuan Convertible Bonds, starting from April 28, 2025, due to the stock price being below 70% of the conversion price for 30 consecutive trading days [1][2] - The redemption price for the bonds is set at 100.35 RMB per bond, which includes the accrued interest [3][4] - The redemption period is from June 20, 2025, to June 26, 2025, during which the bonds will stop converting into shares [3][5] - Holders of the Zhengchuan Convertible Bonds have the option to redeem either part or all of their unconverted bonds, and this redemption is not mandatory [4][5] - The company will announce the results of the redemption and its impact on the company after the redemption period [4][5]

Core Viewpoint - The company announces the conditional redemption of its convertible bonds, "Zhengchuan Convertible Bonds," allowing bondholders to sell their bonds back to the company at a specified price during a designated period [2][3][7]. Redemption Terms - The redemption price is set at 100.35 RMB per bond, including the current interest [2][11]. - The redemption period is from June 20, 2025, to June 26, 2025, during which the bonds will stop converting into shares [4][10]. - If bondholders do not exercise their redemption rights during this period, they will lose the opportunity to redeem for the current interest year [2][3]. Conditions for Redemption - The redemption clause is activated if the company's stock price remains below 70% of the bond's conversion price for 30 consecutive trading days [3][5]. - The bondholders have the option to redeem part or all of their unconverted bonds, and this redemption is not mandatory [7][8]. Interest Calculation - The interest for the current period is calculated based on a 2.40% annual rate, resulting in approximately 0.35 RMB per bond for the 53 days from April 28, 2025, to June 20, 2025 [6][12]. Trading During Redemption Period - The "Zhengchuan Convertible Bonds" will continue to trade during the redemption period but will not allow conversion into shares [14]. - If the total face value of the bonds in circulation falls below 30 million RMB due to redemptions, the bonds will still continue to trade until the end of the redemption period [15].

Group 1 - The core viewpoint of the announcement is that the credit rating for Chongqing Zhengchuan Pharmaceutical Packaging Materials Co., Ltd. remains unchanged at "A+" for both the company and its convertible bonds, with a stable outlook [1][2]. - The previous credit rating was also "A+" for both the company and the convertible bonds, with a stable outlook, indicating consistency in the company's financial health [2]. - The credit rating was conducted by United Credit Rating Co., Ltd., based on a comprehensive analysis of the company's operational and industry conditions [2]. Group 2 - The announcement confirms that the tracking credit rating report is available on the Shanghai Stock Exchange website for further details [2].