| 转债代码 转债名称 | | 赎回价 现价 | 最后交易日 | 最后转股日 | 转股价值 | 剩余规模 | 转债占正股 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | (税前) | | | | (亿元) | 流通市值比 | | 110062 | 烽火转债 | 111.879 106.000 2025-11-26 | | 2025-12-01 | 111.84 | 25.510 | 8.82% | 汇车退债：广汇汽车筹划以现金方式收购债券持有人所持有的全部或部分"汇车退债" 烽火转债：到期兑付前最后交易日：2025 年 11 月 26 日 巨星转债，健帆转债：不下修 | | 2797 K K S A F | | | | --- | --- | --- | --- | | 转债代码 转债名称 | 类型 | 日期 | 公告 | | 113648 巨星转债 | 不下修 | 2025-11-04 | 公告 | | 123117 健帆转债 | 不下修 | 2025-11-03 | 公告 | | 转债代码 | 转债名称 | 现价 | 强赎价 | 最后交易 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600498 证券简称：烽火通信公告编号：2025-061 转债代码：110062 转债简称：烽火转债 烽火通信科技股份有限公司 关于股份回购进展公告 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： ■ 一、回购股份的基本情况 烽火通信科技股份有限公司（以下简称"公司"）于2025年9月23日、2025年10月15日，分别召开第九届 董事会第八次临时会议、2025年第一次临时股东大会，审议通过了《关于以集中竞价交易方式回购股份 的议案》，同意公司自股东大会审议通过本次回购股份预案之日起6个月内（即2025年10月15日至2026 年4月14日），使用自有资金或自筹资金以集中竞价交易方式回购公司股份，回购的资金总额不低于人 民币7,500万元（含）且不超过15,000万元（含），回购价格不超过人民币40.53元/股（含），依照回购 价格上限测算，回购的数量不低于1,850,482股（含）且不超过3,700,962股（含），最终回购使用资金总 额、回购数量 ...

Group 1 - Taifu Pump Industry has terminated the acquisition of 51% equity in Nanyang Huacheng [1] - Shareholder Fosun Pharma of Shanhe Pharmaceutical Auxiliary plans to reduce its stake by no more than 3% [1] - Several convertible bonds including Anji Convertible Bond, Longda Convertible Bond, and Oujing Convertible Bond will not undergo forced redemption [1][2] Group 2 - The following convertible bonds will not be adjusted: Oujing Convertible Bond, Longda Convertible Bond, and Tong 22 Convertible Bond [2] - New shares from Danna Biotechnology will be listed on the Beijing Stock Exchange [1] - North Mining Testing is also set to issue new shares on the Beijing Stock Exchange [1]

Group 1 - The company plans to repurchase shares with an amount not less than RMB 75 million and not exceeding RMB 150 million [2][13] - The repurchase will be funded by the company's own funds or self-raised funds [15] - The purpose of the repurchase is to cancel the shares and reduce the registered capital [7][13] Group 2 - The maximum repurchase price is set at RMB 40.53 per share, which is 150% of the average trading price over the last 30 trading days prior to the board's decision [2][14] - The repurchase will be conducted through a centralized bidding method on the Shanghai Stock Exchange [9] - The repurchase period will last for no more than 6 months from the date of the shareholders' meeting approval [10] Group 3 - The estimated number of shares to be repurchased ranges from approximately 1,850,482 shares to 3,700,962 shares, representing about 0.146% to 0.291% of the company's total share capital [13] - The company will adjust the repurchase quantity in case of any corporate actions such as dividends or stock splits [13] Group 4 - The board of directors has approved the repurchase plan, which will be submitted to the shareholders' meeting for special resolution [6][25] - The company will ensure compliance with legal procedures to protect creditors' interests during the repurchase process [19]

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Views of the Report - The convertible bond market was mainly volatile this week (0908 - 0912), with valuations hovering at high levels. High - priced bonds were better than medium - priced ones, and medium - priced were better than low - priced. Small - cap bonds were better than mid - cap ones, and mid - cap were better than large - cap [1][35] - The opportunities in the current convertible bond market are highly structured, rooted in the highly structured equity market. The technology - themed (core is AI computing power) market has not effectively driven the rotation and supplementary rise of the cyclical sectors due to the relatively lagging marginal improvement of the overall economic fundamentals [1][35] - The market index may show a pattern of grinding at the top and oscillating. The CSI Convertible Bond Index has risen by more than 30% since the low in August 2024, and the parity premium rate has increased by about 8 - 12 pct during the same period. In the short term, the rise of medium - and low - priced cyclical targets is slow and the elasticity is low, and the strong redemption demand of high - priced thematic targets will suppress the further rise of the index. In the long term, the index's oscillation center may move up [1][36] - In the short - term strategy, it is still not recommended to significantly reduce positions, but the structure needs to be adjusted. Reduce high - volatility technology - themed targets and increase the proportion of balanced targets to control drawdowns, and increase the allocation proportion of cyclical sectors such as non - ferrous metals, lithium batteries, and chemicals in the medium - and low - price ranges [1][36] Group 3: Summary According to the Directory 1. Week - on - Week Market Review 1.1 Equity Market Overall Rise, Most Industries Rise - From September 8th to September 12th, the equity market overall rose. The Shanghai Composite Index rose 1.52%, the Shenzhen Component Index rose 2.65%, the ChiNext Index rose 2.10%, and the CSI 300 rose 1.38%. The average daily trading volume of the two markets decreased by about 2708.96 billion yuan to 22986.80 billion yuan compared with last week, a week - on - week decrease of 10.54% [6][9] - Among the 31 Shenwan primary industries, 25 industries closed up, with 11 industries rising more than 2%. Electronics, agriculture, forestry, animal husbandry and fishery, media, non - ferrous metals, and steel led the gains, rising 6.15%, 4.81%, 4.27%, 3.76%, and 3.72% respectively. Banking, petroleum and petrochemicals, pharmaceutical biology, social services, and household appliances led the losses [13] 1.2 Convertible Bond Market Overall Rise, Some Industries Rise - From September 8th to September 12th, the CSI Convertible Bond Index rose 0.43%. Among the 29 Shenwan primary industries, 13 industries closed up, with 3 industries rising more than 2%. Food and beverage, non - ferrous metals, electronics, communications, and agriculture, forestry, animal husbandry and fishery led the gains, rising 5.78%, 3.12%, 2.52%, 1.72%, and 1.51% respectively. Media, petroleum and petrochemicals, non - bank finance, household appliances, and banking led the losses [15] - The average daily trading volume of the convertible bond market this week was 869.91 billion yuan, a significant reduction of 59.05 billion yuan, a week - on - week change of - 6.36%. The top ten convertible bonds in terms of trading volume had an average trading volume of 102.49 billion yuan, and the first - ranked one reached 174.00 billion yuan. About 53.29% of individual bonds rose, about 25.17% of individual bonds rose in the 0 - 1% range, and 18.14% of individual bonds rose more than 2% [15] - The overall market conversion premium rate continued to decline this week, with an average daily conversion premium rate of 36.11%, a decrease of 0.59 pct compared with last week. In terms of price ranges, except for bonds below 90 yuan, the average daily conversion premium rates of bonds in other price ranges widened. In terms of parity ranges, the situation was similar [21] - 20 industries' conversion premium rates widened, with 9 industries widening by more than 2 pcts. Household appliances, media, petroleum and petrochemicals, national defense and military industry, and pharmaceutical biology led the widening. 23 industries' parity increased, with 17 industries increasing by more than 2% [25][29] 1.3 Comparison of Stock and Bond Market Sentiments - This week, the weekly weighted average and median of the convertible bond and underlying stock markets were positive, and the underlying stocks had a larger weekly increase. The trading volume of the underlying stock market increased more significantly and was at a higher quantile level. More underlying stocks closed up, and the individual underlying stocks could achieve higher returns. Overall, the trading sentiment of the underlying stock market was better this week [32] - On different trading days, the trading sentiment of the underlying stock market was better on Monday, Tuesday, and Wednesday, while the trading sentiment of the convertible bond market was better on Thursday and Friday [33] 2. Outlook and Investment Strategy - The convertible bond market may show a pattern of grinding at the top and oscillating in the short term, and the oscillation center may move up in the long term [1][36] - In the short - term strategy, do not significantly reduce positions, but adjust the structure. Reduce high - volatility technology - themed targets and increase the proportion of balanced targets and the allocation of cyclical sectors in the medium - and low - price ranges [1][36] - The top ten convertible bonds with the highest predicted downward - revision probability next week are Lanfan Convertible Bond, Dongshi Convertible Bond, Baolai Convertible Bond, etc. The top ten high - rated, medium - and low - priced convertible bonds with the greatest potential for parity premium rate repair next week are Pufa Convertible Bond, Fenghuo Convertible Bond, Jinneng Convertible Bond, etc. [1][36]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - The A-share market is currently experiencing a valuation recovery. Measures such as large-scale equipment upgrades and consumer goods trade-ins are expected to boost domestic demand, while export growth may decline. A weak resonance between the domestic economic fundamentals and capital flows is expected to gradually emerge [30]. - Considering the impact of refinancing policies, the subsequent issuance pressure of convertible bonds is not expected to be high. As the stock market recovers, the inflow of incremental funds into convertible bonds has driven the valuation to a relatively high level in history. Attention should be paid to the risk of valuation correction. In terms of terms and conditions, it is recommended to continue to focus on the space for lower revision games, be vigilant against the risk of early redemption, and appropriately pay attention to short-term game opportunities for near-maturity convertible bonds [31]. - Industries worthy of attention include popular themes such as AI computing power, humanoid robots, intelligent driving, low-altitude economy, data elements, and satellite Internet of Things; repair opportunities in low-position science and technology growth sectors such as semiconductors and innovative drugs; pro-cyclical and domestic demand sectors such as real estate, chemicals, and consumer electronics whose prosperity is gradually recovering; industries with both export advantages and domestic demand growth potential such as automobiles, home appliances, and engineering machinery; central state-owned enterprises represented by "China-headquartered" companies, the "Belt and Road" theme, and high-dividend sectors such as public utilities, petrochemicals, and precious metals under the Chinese characteristic valuation system; and the military industry driven by the resonance of hedging demand and industrial demand cycles [31]. 3. Summary by Relevant Catalogs 3.1. Convertible Bond Weekly Special and Outlook 3.1.1. The "Diverse States" of Near-Maturity Convertible Bonds - As of August 22, 2025, 82 convertible bonds have been delisted this year, including 20 that have reached maturity. Among the matured and delisted convertible bonds, 6 have an actual maturity payment ratio of less than 1%, 3 have a payment ratio of over 90% (Nuclear Construction Convertible Bond, Haoke Convertible Bond, and Intelligent Convertible Bond), and the rest have a maturity payment ratio concentrated between 20% - 60% [10]. - The paths of promoting conversion and maturity payment of convertible bonds that have reached maturity this year vary. For example, the issuance amount of CITIC Convertible Bond is 40 billion yuan, but the final payment ratio is less than 1%. Its methods of promoting conversion are diverse, including the controlling shareholder's premium conversion and conversion during periods of negative premium rate due to the positive stock's "abnormal movement." Since December 2024, with the continuous rise of bank stocks, the conversion value of CITIC Convertible Bond has been significantly higher than the maturity value, accelerating the conversion process [13][14]. - In contrast, the Nuclear Construction Convertible Bond, a large central enterprise convertible bond, has a maturity payment ratio as high as 99.27%. The company's main business has a stable profit margin, and it has a relatively weak willingness to promote conversion, resulting in a smooth maturity payment [19]. - Most private enterprise convertible bonds (11 out of 18) have proposed to lower the conversion price during their tenure. However, due to factors such as weak performance and poor stock price performance of the underlying stocks, large-scale conversion has not been achieved. For example, Dafeng Convertible Bond achieved a large-scale conversion through a high negative premium rate before maturity, alleviating the payment pressure to some extent [21]. - As of August 22, there are still 14 convertible bonds approaching maturity this year. Some companies have a strong willingness to promote conversion, such as Jinneng Convertible Bond, which recently lowered its conversion price. It is recommended to analyze the company's willingness to promote conversion based on factors such as company attributes, debt repayment pressure, and research and communication, and pay attention to negative premium rate conversion and lower revision games during the conversion promotion process [28]. 3.1.2. Weekly Review and Market Outlook - This week, the A-share market showed an overall upward trend with active trading, and technology sectors led the market. The Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index all rose to varying degrees, with the ChiNext Index performing particularly well. Sectors such as communication, comprehensive, and computer led the gains, while real estate and petrochemical sectors declined slightly [29]. - In the convertible bond market, considering the impact of refinancing policies, the subsequent issuance pressure is not expected to be high. As the stock market recovers, the inflow of incremental funds has driven the valuation to a relatively high level in history. Attention should be paid to the risk of valuation correction. It is recommended to continue to focus on the space for lower revision games, be vigilant against the risk of early redemption, and appropriately pay attention to short-term game opportunities for near-maturity convertible bonds [31]. 3.2. Weekly Tracking of the Convertible Bond Market 3.2.1. The Equity Market Rose, with Communication, Electronics, and Comprehensive Sectors Leading - This week, major equity market indices rose. The Wind All A Index rose 3.87%, the Shanghai Composite Index rose 3.49%, the Shenzhen Component Index rose 4.57%, and the ChiNext Index rose 5.85%. The market style was more inclined towards large-cap growth stocks. Among small-cap indices, the CSI 1000 Index rose 3.45%, and the STAR 50 Index rose 13.31% [35]. - All 31 Shenwan industry indices rose this week, with communication, electronics, and comprehensive sectors leading the market with increases of 10.84%, 8.95%, and 8.25% respectively [38]. 3.2.2. The Convertible Bond Market Rose Significantly, and the Median of the 100-yuan Premium Rate Increased - This week, the convertible bond market rose. The CSI Convertible Bond Index rose 2.83%, the Shanghai Convertible Bond Index rose 2.77%, the Shenzhen Convertible Bond Index rose 2.96%, the Wind Convertible Bond Equal-Weighted Index rose 3.20%, and the Wind Convertible Bond Weighted Index rose 2.86%. The average daily trading volume of convertible bonds increased, with an average daily trading volume of 94.06 billion yuan, an increase of 0.975 billion yuan compared to last week, and a total weekly trading volume of 470.3 billion yuan [40]. - At the industry level of convertible bonds, 29 industries rose, with the social services, beauty care, and computer industries ranking among the top three in terms of gains, with increases of 9.16%, 7.01%, and 5.28% respectively. At the corresponding underlying stock level, 26 industries rose, and 3 industries fell. The computer, electronics, and food and beverage industries led the gains, with increases of 10.14%, 8.92%, and 7.29% respectively [43]. - Most individual convertible bonds rose this week (414 out of 450). After excluding the closing data of newly listed convertible bonds, the top five convertible bonds in terms of weekly gains were Dongshi Convertible Bond (social services, 90.12%), Jintong Convertible Bond (non-ferrous metals, 22.92%), Huayi Convertible Bond (pharmaceutical biology, 19.84%), Weice Convertible Bond (electronics, 18.48%), and Dongjie Convertible Bond (machinery and equipment, 17.05%). The top five in terms of weekly trading volume were Outong Convertible Bond (power equipment, 23.791 billion yuan), Dayuan Convertible Bond (machinery and equipment, 23.686 billion yuan), Saili Convertible Bond (pharmaceutical biology, 12.55 billion yuan), Dongjie Convertible Bond (machinery and equipment, 12.492 billion yuan), and Huahong Convertible Bond (environmental protection, 11.35 billion yuan) [45]. - In terms of price, the number of absolute low-price convertible bonds decreased, and the median price of convertible bonds increased significantly. The number of convertible bonds with an absolute price of less than 110 yuan decreased by 3 compared to last week, the number in the 110 - 130 yuan range decreased by 40, the number in the 130 - 150 yuan range increased by 17, the number in the 150 - 200 yuan range increased by 14, and the number of those with a price greater than 200 yuan increased by 6. As of this Friday, the median price of the entire market's convertible bonds closed at 135.19 yuan, an increase of 3.03 yuan compared to last weekend [47]. - This week, the weighted conversion value of the entire market increased, and the premium rate decreased. The weighted average conversion value of the entire market based on the remaining bond balance was 102.18 yuan, an increase of 3.03 yuan compared to last weekend. The weighted conversion premium rate of the entire market was 40.64%, a decrease of 1.05 percentage points compared to last weekend. The 100-yuan parity premium rate (weighted average) was 29.42%, an increase of 4.92 percentage points compared to last weekend, and the median was 33.05%, an increase of 2.50 percentage points compared to last weekend. Currently, the 100-yuan parity premium rate is above the 50th percentile since 2017. The median implied volatility of the entire market was 41.78%, an increase of 3.91 percentage points compared to last weekend, and the pure bond premium rate of debt-biased convertible bonds was 14.50%, an increase of 3.55 percentage points compared to last weekend [51]. 3.2.3. High-Frequency Tracking of Different Types of Convertible Bonds 3.2.3.1. Classification Valuation Changes - This week, the valuation of balanced convertible bonds slightly declined, while that of equity-biased convertible bonds increased significantly. The valuation of convertible bonds with a parity of 110 - 120 yuan decreased, while the valuation of other parity convertible bonds increased, with those in the 0 - 80 yuan and 100 - 110 yuan ranges increasing more significantly. The valuation of AAA, A+, and A and below convertible bonds increased, while that of AA+, AA, and AA- convertible bonds decreased. The valuation of small-cap and small - medium-cap convertible bonds increased, while that of medium-cap and large-cap convertible bonds decreased [59]. - Since the beginning of 2024, the conversion premium rates of equity-biased and balanced convertible bonds have both rebounded from their lows. As of this Friday, the conversion premium rate of equity-biased convertible bonds is above the 35th percentile since 2017, and that of balanced convertible bonds is below the 50th percentile since 2017 [59]. 3.2.3.2. Market Index Performance - This week, all convertible bonds of different ratings rose. AAA convertible bonds rose 1.77%, AA+ convertible bonds rose 3.57%, AA convertible bonds rose 3.67%, AA- convertible bonds rose 2.69%, A+ convertible bonds rose 3.67%, and A and below convertible bonds rose 2.55%. Since 2023, AAA convertible bonds have recorded a 22.35% return, AA+ convertible bonds 15.24%, AA convertible bonds 21.33%, AA- convertible bonds 29.60%, A+ convertible bonds 32.92%, and A and below convertible bonds 34.83%. Historically, high-rated AAA convertible bonds have shown stable performance, while low-rated convertible bonds have shown weaker downside resistance and greater rebound strength [74]. - This week, all convertible bonds of different scales rose. Small-cap convertible bonds rose 2.84%, small - medium-cap convertible bonds rose 2.66%, medium-cap convertible bonds rose 3.86%, and large-cap convertible bonds rose 2.29%. Since 2023, small-cap convertible bonds have recorded a 34.82% return, small - medium-cap convertible bonds 29.29%, medium-cap convertible bonds 26.30%, and large-cap convertible bonds 19.79% [74]. 3.3. Tracking of Convertible Bond Supply and Terms 3.3.1. This Week's Primary Market Issuance Plans - This week, there were no newly listed convertible bonds, and there were 3 convertible bonds that had been issued but not yet listed. Among the convertible bonds to be listed, Weidao Convertible Bond and Jinwei Convertible Bond both have a scale of over 1 billion yuan. This week, there were 12 primary approvals (from August 18 to August 23, 2025), with no convertible bonds approved for registration by the CSRC. Three convertible bonds, including Dingjie Shuzhi (828 million yuan), Lianrui Xincai (720 million yuan), and Jinpan Technology (1.672 billion yuan), were accepted by the exchange [80]. - From the beginning of 2023 to August 22, 2025, the total number of planned convertible bonds was 93, with a total scale of 150.36 billion yuan. Among them, the number of convertible bonds approved by the board of directors was 19, with a total scale of 28.493 billion yuan; the number approved by the general meeting of shareholders was 36, with a total scale of 64.672 billion yuan; the number accepted by the exchange was 30, with a total scale of 41.847 billion yuan; the number approved by the listing committee was 4, with a total scale of 8.979 billion yuan; and the number approved for registration by the CSRC was 4, with a total scale of 6.37 billion yuan [81]. 3.3.2. Lower Revision and Redemption Clauses - This week, 8 convertible bonds announced that they were expected to trigger a lower revision, 4 convertible bonds announced that they would not be revised downward, and Qifan Convertible Bond proposed a lower revision, with no convertible bonds announcing the result of the lower revision [84][87]. - This week, 12 convertible bonds announced that they were expected to trigger early redemption, 7 convertible bonds announced that they would not be redeemed early, and 6 convertible bonds, including Chongda Zhuan 2, Dayuan Convertible Bond, Haitai Convertible Bond, Sheyan Convertible Bond, Dongjie Convertible Bond, and Rongtai Convertible Bond, announced early redemption [86][88][89]. - As of the end of this week, there was 1 convertible bond still in the put option declaration period and 9 convertible bonds still in the company's capital reduction and settlement declaration period. Attention should be paid to the price changes of convertible bonds and the marginal changes in the company's tendency for lower revision [91].

Core Points - The company held its 8th meeting of the 9th Supervisory Board on August 21, 2025, in Wuhan, with all 7 supervisors present, meeting legal and regulatory requirements [1] - The Supervisory Board approved the company's 2025 semi-annual report, confirming compliance with laws, regulations, and internal management systems, and ensuring the report accurately reflects the company's operational and financial status [1] - The board verified the proposal for the repurchase and cancellation of unvested restricted stock, agreeing to repurchase a total of 633,114 shares due to 56 individuals no longer meeting incentive criteria and 17 individuals failing to meet performance requirements [1] Summary by Sections Meeting Details - The meeting was legally valid with all supervisors present, adhering to the Company Law and Articles of Association [1] Semi-Annual Report - The report's preparation and review process complied with all relevant regulations, and no confidentiality breaches were found among the personnel involved [1] Restricted Stock Repurchase - The company will repurchase and cancel 633,114 shares of restricted stock, including 593,640 shares from 56 resigned individuals and 39,474 shares from 17 individuals who did not meet performance criteria [1]

证券代码：600498 证券简称：烽火通信 公告编号：2025-040 转债代码：110062 转债简称：烽火转债 烽火通信科技股份有限公司 关于"烽火转债"转股价格调整暨转股停牌的公告 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： ? 证券停复牌情况：适用 因公司向特定对象发行股票导致"烽火转债"转股价格调整,本公司的相关证券停 复牌情况如下： | | | | 停牌 | | | | --- | --- | --- | --- | --- | --- | | 证券代码 | 证券简称 | 停复牌类型 | 停牌起始日 | 停牌终止日 | 复牌日 | | | | | 期间 | | | 可转 债 转股 停牌 ? 调整前转股价格：22.37 元/股 ? 调整后转股价格：21.71 元/股 ? "烽火转债"本次转股价格调整实施日期：2025 年 8 月 25 日 烽火通信科技股份有限公司（以下简称"公司"或"烽火通信"）于 2019 年 于 2019 年 12 月 25 日在上海证券交易所上市交易（债券简称：烽火转债，债 ...

Core Viewpoint - The company maintains its credit rating of "AAA" for both its convertible bonds and its overall entity, with a stable outlook, indicating strong financial health and stability in its operations [1][2]. Group 1: Credit Rating - The previous credit rating for the convertible bonds (code: 110062, name: Fenghuo Convertible Bonds) was "AAA" [1]. - The current credit rating for the convertible bonds remains "AAA" [2]. - The entity's credit rating is also "AAA" with a stable outlook, consistent with previous assessments [1][2]. Group 2: Rating Agency - The credit rating was conducted by Shanghai New Century Credit Rating Investment Service Co., Ltd. [2]. - The tracking credit rating report is available on the Shanghai Stock Exchange website for investor reference [2].

Summary of Key Points Core Viewpoint - The company has announced its 2024 annual profit distribution plan, which includes a cash dividend of 1.79 yuan per 10 shares, and the relevant securities will be suspended from conversion during the distribution period [1][2]. Group 1: Profit Distribution Plan - The profit distribution plan was approved at the annual shareholders' meeting held on May 16, 2025, and details are available in the company's announcements [2]. - The cash dividend will be distributed based on the total number of shares registered on the equity distribution record date, with the total cash dividend amount subject to change according to the number of shares [1][2]. Group 2: Convertible Bond Suspension - The company's convertible bonds ("烽火转债") will stop conversion from June 12, 2025, until the equity distribution record date, with resumption of conversion on the first trading day after the record date [3]. - The company will disclose the implementation announcement and the adjustment of the convertible bond's conversion price on June 13, 2025 [3]. Group 3: Contact Information - The company has provided contact details for inquiries regarding the announcement, including the board secretary's office phone and fax numbers [4].