Core Viewpoint - The China Convertible Bond Index rose by 0.43% on December 12, reaching 483.36 points, indicating a positive trend in the convertible bond market [1] Summary by Category Market Performance - The China Convertible Bond Index increased by 0.43% to 483.36 points [1] - Notable gainers included: - Ruike Convertible Bond: +30.00% - Jingzhuang Convertible Bond: +11.31% - Jingda Convertible Bond: +7.24% - Huicheng Convertible Bond: +6.28% - Zhenhua Convertible Bond: +5.10% [1] - Significant decliners included: - Longda Convertible Bond: -3.25% - Huarui Convertible Bond: -3.24% - Furong Convertible Bond: -3.01% - Chaosheng Convertible Bond: -2.51% - Yong02 Convertible Bond: -2.28% [1]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 上一周期（11.25-12.8）低价增强策略、改良双低策略、高价高弹性策略分别录得0.2%、2.3%、2.3%（同期基准0.0%）。今年以来，三类策略绩效分别为 17.4%、29.4%、55.1%（同期基准16.7%），累计超额收益率0.7%、12.7%、38.4%。上个周期权益市场回升，万得全A环比收涨4.1%，中证转债收平，低 价风格表现稍弱，高波策略重新占优。 低价增强策略最新持仓： 高价高弹性策略最新持仓： 阳谷转债（基础化工，新入）、华懋转债（汽车，新入）、永02转债（机械设备，新入）、富春转债（纺织服饰，新入）、中环转2（环保，新入）、超 声转债（电子，新入）、易瑞转债（医药生物，新入）、水羊转债、亿纬转债、北港转债。 高价高弹性策略调仓理由： 上期高价指数跟随正股上涨0.9%，高波策略重新占优。调入调出方面，本期调出价格偏高的天源转债、柳工转2、春23转债等，调入暂无强赎风险的阳谷 转债、华懋转债等高价品种，并保持行业分散。当前权益高位下高波策略操作难度偏高，叠加年末流动性或边际收紧，持续关注强赎进度及估值压缩带来 的下行 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ● 杭州永创智能设备股份有限公司（以下简称"公司""本公司""永创智能"）股票自2025年10月31日至 2025年12月3日期间已有15个交易日的收盘价不低于"永02转债"当期转股价格（即9.69元/股）的130% （即12.60元/股）。已触发"永02转债"的有条件赎回条款。公司董事会决定本次不行使"永02转债"的提 前赎回权利，不提前赎回"永02转债"。 ● 未来三个月内（即2025年12月4日至2026年3月3日），如再次触发"永02转债"的有条件赎回条款均不 行使"永02转债"的提前赎回权利。自2026年3月3日之后的首个交易日重新计算，若"永02转债"再次触发 有条件赎回条款，届时公司董事会将另行召开会议决定是否行使"永02转债"的提前赎回权利。 一、可转债发行上市概况 经中国证券监督管理委员会《关于核准杭州永创智能设备股份有限公司公开发行可转换公司债券的批 复》（证监许可〔2022〕812号）核准。杭州永创智能设备股份有限公司（以下简称"永创智能"， ...

Group 1 - The China Convertible Bond Index opened up 0.04% on December 4, reaching 478.74 points [1][2] - The top gainers in convertible bonds included Yong02, Hongwei, Fuxin, Hengshuai, and Jincheng, with increases of 8.14%, 6.02%, 5.95%, 2.83%, and 2.13% respectively [1][2] - The largest decliners were Furong, Dongshi, Weidao, Zhenhua, and Shouhua, with decreases of 4.66%, 2.86%, 1.30%, 1.25%, and 1.05% respectively [1][2]

Core Points - Yongchong Intelligent announced that its stock price has met the conditions for the conditional redemption clause of the "Yong02 Convertible Bond" [2] - The stock price has been above 130% of the conversion price for 15 trading days, triggering the redemption clause [2] - The company's board decided not to exercise the early redemption rights for the "Yong02 Convertible Bond" [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 - Yongchuan Intelligent announced that if its stock price remains above 130% of the conversion price of "Yong02 Convertible Bonds" for a specified period, it may trigger the redemption clause of the bonds [2] Group 1: Stock Performance - As of October 31, 2025, the closing price of the company's stock has been no less than 130% of the conversion price (9.69 CNY/share), which is 12.60 CNY/share [2] - If the stock price continues to meet the conditions for 5 out of the next 17 trading days, the redemption clause will be activated [2] Group 2: Redemption Clause - The company's board of directors has the authority to decide whether to redeem all or part of the unconverted "Yong02 Convertible Bonds" at face value plus accrued interest [2]

Core Viewpoint - Yongchong Intelligent's stock price has decreased by 3.21% this week, closing at 10.56 yuan, with a total market capitalization of 5.15 billion yuan as of September 5, 2025 [1] Company Announcements - The third extraordinary general meeting of shareholders was held on September 1, 2025, where 238 participants represented 223,227,729 shares, accounting for 45.7739% of the total voting shares [2] - The meeting approved 13 resolutions, including the cancellation of the supervisory board and amendments to the company's articles of association, with all resolutions passed without any objections [2][3] - The company plans to appoint Zhonghui Certified Public Accountants as the auditing firm for the 2025 fiscal year, with an audit fee of 1.2 million yuan, unchanged from the previous year [3][5] - Zhang Caiqin was elected as a representative director of the fifth board of directors, with her term starting immediately and lasting until the board's term ends [4] Financial Instruments - The company issued convertible bonds named "Yong 02 Convertible Bonds" with a total issuance amount of 610.547 million yuan, with a term from August 4, 2022, to August 3, 2028 [5] - The initial conversion price is set at 14.07 yuan per share, while the current conversion price is 9.69 yuan per share [6]

Trading Information Summary - On September 4, 2025, Yongchuan Intelligent (603901) closed at 10.17 yuan, down 3.05%, with a turnover rate of 2.56% and a trading volume of 122,700 shares, amounting to a total transaction value of 127 million yuan [1] - On the same day, the net outflow of main funds was 7.139 million yuan, accounting for 5.63% of the total transaction value; the net outflow of retail funds was 2.7617 million yuan, accounting for 2.18% of the total transaction value; while retail investors saw a net inflow of 9.9007 million yuan, accounting for 7.8% of the total transaction value [1][3] Company Announcement Summary - On September 2, 2025, the company held a staff representative meeting and elected Ms. Zhang Caiqin as the staff representative director of the fifth board of directors, with her term starting from the date of approval until the end of the fifth board's term. Ms. Zhang, born in 1972, holds a bachelor's degree and is a senior engineer, currently serving as a director and deputy general manager of the company [1] - The board composition remains unchanged after the election, with the number of directors concurrently serving as senior management and those representing employees not exceeding half of the total number of directors. Ms. Zhang has been with the company since 2006 and has held multiple senior management positions [1] Convertible Bond Information Summary - The company issued a report on the fourth temporary management of its publicly issued convertible bonds, named "Yong 02 Convertible Bonds" with code 113654, amounting to 610.547 million yuan, with a term from August 4, 2022, to August 3, 2028, and an increasing coupon rate [2] - The initial conversion price is 14.07 yuan per share, while the current conversion price is 9.69 yuan per share. The company's credit rating is AA-, and the convertible bonds are unsecured [2]

Group 1 - The company is issuing convertible bonds with a total duration of 6 years, from August 4, 2022, to August 3, 2028 [3] - The coupon rates for the bonds are structured to increase over the years, starting at 0.30% in the first year and reaching 2.50% in the sixth year [3] - The bonds will pay interest annually, with the first interest payment occurring one year after the issuance date [5] Group 2 - The initial conversion price for the bonds is set at 14.07 yuan per share, while the current conversion price is 9.69 yuan per share [6] - The company has received a credit rating of AA- from Zhongceng Pengyuan, with a stable outlook for the issuer [6] - The company plans to issue A-shares to specific investors through a simplified procedure, which has been authorized by the board and requires approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission [6][7]