登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603605 证券简称：珀莱雅 公告编号：2026-003 债券代码：113634 债券简称：珀莱转债 珀莱雅化妆品股份有限公司 关于回购股份事项前十大股东 和前十大无限售条件股东持股情况的公告 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。 珀莱雅化妆品股份有限公司（以下简称"公司"）于2025年12月30日召开第四届董事会第十一次会议，审 议通过了《关于以集中竞价交易方式回购股份方案的议案》，具体内容详见公司于2025年12月31日在上 海证券交易所网站（www.sse.com.cn）披露的《珀莱雅化妆品股份有限公司关于以集中竞价交易方式回 购股份方案的公告暨回购报告书》（公告编号：2025-081）。 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第7号一一回购股份》等相关 规定，现将公司董事会公告回购股份决议的前一个交易日（即2025年12月30日）登记在册的前十大股东 和前十大无限售条件股东的名称及持股数量、比例情况公告如下： 债券代码：1 ...

1. Report's Investment Rating for the Industry - No information provided regarding the industry's investment rating. 2. Core Views of the Report - Bullish on the equity market during the "Spring Rally". With the expected strengthening of underlying stocks and seasonal effects, there is a slight room for convertible bond valuations to increase. When selecting bonds, focus on the performance elasticity of the underlying stocks. For near - maturity convertible bonds, consider participating in the underlying stocks [27]. - In the stock market, in December 2025, the risk appetite was high. Looking ahead, the RMB appreciation expectation is strengthening, and with the end of the year - end ranking assessment of financial institutions, the "Spring Rally" is expected to gradually kick off. In January, if the market adjusts during the intensive performance forecast period, investors can buy on dips and focus on resources, AI computing power, batteries, polyester industry chain, AI edge devices, and securities [27]. - In the convertible bond market, in December 2025, the CSI Convertible Bond Index reached a new high since July 2015. Although the share of convertible bond ETFs continued to decline, the market premium rate increased. In the future, due to seasonal effects, some institutional investors may gradually increase their positions in January, and convertible bond valuations have a slight room for improvement [27]. 3. Summary of Each Section 3.1 2025 December Convertible Bond Market Review - **Stock and Bond Market Review**: In December, the equity market fluctuated upwards, and the bond market generally fluctuated. The Shanghai Composite Index rose for nearly 10 consecutive trading days in the middle and late - December, closing at 3963.68 on December 26, with a monthly increase of 1.27%. The 10 - year Treasury bond yield closed at 1.838% on December 26, up 0.10bp from the beginning of the month, and the 30 - year Treasury bond yield closed at 2.223%, up 3.32bp from the beginning of the month [4][8]. - **Convertible Bond Market Review**: The convertible bond market generally rose following the equity market. The premium rates of convertible bonds in all parity ranges increased, but convertible bond ETFs continued to face outflow pressure. Five convertible bonds announced downward revisions, one more than the previous month, and 10 convertible bonds announced forced redemptions, two less than the previous month. The CSI Convertible Bond Index closed at 493.2 on December 26, up 2.31% [5][8]. - **Industry Performance**: In the Shenwan industry classification, sectors such as national defense and military industry (+12.25%), communication (+10.55%), and non - bank finance (+8.27%) performed well, while sectors such as media (-4.77%), banks (-3.68%), and coal (-3.62%) declined [8]. 3.2 2026 January Convertible Bond Allocation Strategy - **Stock Market Outlook**: The RMB appreciation expectation is strengthening, and the "Spring Rally" is expected to start. In January, if the market adjusts during the performance forecast period, investors can buy on dips. Focus on resources, AI computing power, batteries, polyester industry chain, AI edge devices, and securities [27]. - **Convertible Bond Outlook**: Due to seasonal effects, some institutions may increase their positions in January. Convertible bond valuations have a slight room for improvement. When selecting bonds, relative - return funds should focus on high - probability sectors with a high - beta underlying stocks, and absolute - return funds should focus on high - odds sectors [27][28]. - **Bond Selection Suggestions**: For relative - return funds, focus on sectors such as lithium - battery materials, semiconductor equipment and materials, power semiconductors, high - quality auto parts, anti - involution industries, and securities. For absolute - return funds, focus on industry leaders with low valuations, sectors such as pig farming, power, and water supply, and convertible bond debt - to - equity conversion [28]. 3.3 2026 January "Top Ten Convertible Bonds" Portfolio | Convertible Bond Code | Convertible Bond Name | Underlying Stock Name | Industry | Balance (Billion Yuan) | Convertible Bond Price (Yuan) | Convertible Bond Parity (Yuan) | Conversion Premium Rate (%) | Rating | Recommendation Reason | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 113043.SH | Caitong Convertible Bond | Caitong Securities | Securities II | 37.99 | 133.52 | 109.71 | 21.70 | AAA | The securities sector will see a double - hit of valuation and profit in a bull market [30]. | | 123254.SZ | EVE Convertible Bond | EVE Energy | Battery | 49.98 | 167.64 | 134.65 | 24.51 | AA+ | The demand for energy storage is strong, and the shipment volume in the third quarter increased significantly year - on - year and quarter - on - quarter [30]. | | 113695.SH | Huachen Convertible Bond | Jiangsu Huachen | Power Grid Equipment | 4.60 | 160.16 | 122.10 | 31.17 | A+ | The company's new production capacity is put into operation just as the demand for energy storage is growing rapidly [30]. | | 113634.SH | Proya Convertible Bond | Proya | Cosmetics | 7.51 | 125.13 | 70.36 | 77.83 | AA | As a domestic beauty leader, its brand and product strength are outstanding, and its valuation at a historical low is expected to be restored [30]. | | 113616.SH | Will Semiconductor Convertible Bond | Will Semiconductor | Semiconductor | 24.32 | 124.07 | 78.35 | 58.36 | AA+ | The company is accelerating its introduction into intelligent driving and emerging markets and has launched new mobile phone products with strong competitiveness [30]. | | 118040.SH | Hongwei Convertible Bond | Hongwei Technology | Semiconductor | 4.30 | 149.72 | 116.17 | 28.88 | A | Power semiconductors benefit from the growth of power supply and energy storage demand [30]. | | 113674.SH | Huashe Convertible Bond | Huashe Group | Engineering Consulting Service II | 4.00 | 129.29 | 89.47 | 44.51 | AA | As a leader in infrastructure design, its main business is stabilizing, and intelligent design and low - altitude economy provide growth points [30]. | | 123222.SZ | Bojun Convertible Bond | Bojun Technology | Auto Parts | 2.44 | 224.63 | 194.72 | 15.36 | A+ | The growth of customer sales and the increase in ASP per vehicle drive up revenue and profit [30]. | | 113666.SH | Aima Convertible Bond | Aima Technology | Motorcycle and Others | 19.99 | 125.11 | 79.63 | 57.12 | AA | The new national standard may promote the market share of the two - wheeled vehicle leader [30]. | | 123247.SZ | Wankai Convertible Bond | Wankai New Materials | Plastics | 19.64 | 172.30 | 150.18 | 14.73 | AA | Under the "anti - involution" of bottle chips, the processing fee is expected to stabilize, and the company is entering the rPET blue - ocean market [30]. |

Core Points - The company will begin paying interest on its convertible bonds, "Pola Convertible Bonds," starting December 8, 2025, for the period from December 8, 2024, to December 7, 2025 [2][14] - The bond has a total issuance amount of RMB 751.713 million, with a maturity period of six years from December 8, 2021, to December 7, 2027 [4][12] Summary by Sections Bond Issuance Overview - The bond was issued on December 8, 2021, with a total issuance amount of RMB 751.713 million and a face value of RMB 100 per bond [4][12] - The bond has a fixed interest rate that increases over the years, starting from 0.30% in the first year to 2.00% in the sixth year [2][4] Interest Payment Details - The interest payment date is set for December 8, 2025, with a record date of December 5, 2025 [3][20] - The interest for the fourth year will be 1.50% (RMB 1.50 per bond) before tax, resulting in a net payment of RMB 1.20 after tax for individual investors [14][18] Conversion Terms - The conversion period for the bonds is from June 14, 2022, to December 7, 2027, with an initial conversion price of RMB 195.98 per share, adjusted to RMB 95.46 as of the latest update [6][12] - The conversion price has been adjusted multiple times due to various corporate actions, including equity distributions and stock incentive plans [6][7][10] Credit Rating - The company and the convertible bonds have been rated "AA" with a stable outlook by a credit rating agency [12][13] Tax Implications - Individual investors are subject to a 20% tax on interest income, while foreign institutional investors are exempt from corporate income tax on bond interest until December 31, 2025 [18][19]

Core Viewpoint - The company has completed the repurchase and cancellation of a portion of restricted stock, and the conversion price of the "Pola Convertible Bond" remains unchanged at 95.46 yuan per share due to the small proportion of shares repurchased [2][8][11]. Group 1: Stock Repurchase and Cancellation - The company repurchased and canceled 29,344 shares of restricted stock due to the departure of three incentive plan participants who no longer met the incentive conditions [4][11]. - The repurchase and cancellation were approved during the board and supervisory board meetings held on August 25, 2025 [11][12]. - The completion of the repurchase and cancellation was confirmed by the China Securities Depository and Clearing Corporation on November 18, 2025 [5][12]. Group 2: Convertible Bond Conversion Price - The initial conversion price of the "Pola Convertible Bond" was set at 195.98 yuan per share, with a total issuance of 7,517,130 bonds, amounting to 75,171.30 million yuan [2][3]. - The conversion price was calculated based on the formula provided in the prospectus, but due to the small number of shares repurchased, the conversion price remains unchanged at 95.46 yuan per share [7][8]. - The adjustment of the conversion price is in accordance with the relevant provisions of the company's prospectus and regulatory requirements [6][8].

Core Viewpoint - The article discusses recent developments in convertible bonds, including proposed share reductions, adjustments, and redemption details for various bonds [1][2][4]. Group 1: Share Reduction and Bond Adjustments - Zhengyuan Wisdom plans to reduce its repurchased shares by no more than 2.842 million shares [1]. - Dongshi Convertible Bond will undergo a downward adjustment [1]. - Yuguang Convertible Bond is subject to strong redemption [1]. - Several convertible bonds, including Polai, Ruike, Zhongte, and Leizhi, will not undergo adjustments [1]. Group 2: Convertible Bond Details - 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 stock [2][4]. - For instance, the current price of Chenfeng Convertible Bond is 155.357, with a conversion value of 156.23 and a remaining scale of 0.446 billion [2]. - The Yuguang Convertible Bond has a current price of 207.107, with a conversion value of 206.05 and a remaining scale of 6.826 billion [2].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603605 证券简称：珀莱雅 公告编号：2025-075 债券代码：113634 债券简称：珀莱转债 重要内容提示： ● 2025年10月27日至2025年11月14日，珀莱雅化妆品股份有限公司（以下简称"公司"）股票在连续三十 个交易日中有十五个交易日的收盘价低于当期转股价格的85%（81.14元/股），已触发"珀莱转债"转股 价格向下修正条款。 ● 经公司第四届董事会第十次会议审议通过，公司董事会决定本次不向下修正"珀莱转债"转股价格。并 且在未来六个月内（即2025年11月15日至2026年5月14日），若"珀莱转债"触发向下修正条款，公司亦 不向下修正"珀莱转债"的转股价格。以2026年5月14日之后的首个交易日重新计算，若"珀莱转债"再次 触发向下修正条款，公司董事会将再次召开会议决定是否行使"珀莱转债"的转股价格向下修正权利。 一、可转债发行上市概况 经中国证券监督管理委员会《关于核准珀莱雅化妆品股份有限公司公开发行可转换公司债券的批复》 （证监许可[2021]3408号）核准，公司于2021年12月8日公开发行了7,517,130张可 ...

经上海证券交易所自律监管决定书[2021]503号文同意，公司本次发行的75,171.30万元可转换公司债券 于2022年1月4日起在上海证券交易所上市交易，债券简称"珀莱转债"，债券代码"113634"。 根据有关规定和《珀莱雅化妆品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》"）的约定，公司该次发行的"珀莱转债"自2022年6月14日起可转换为公司股份，转 股期间为2022年6月14日至2027年12月7日，初始转股价格为195.98元/股，最新转股价格为95.46元/股。 历次转股价格调整情况如下： 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603605 证券简称：珀莱雅 公告编号：2025-073 债券代码：113634 债券简称：珀莱转债 珀莱雅化妆品股份有限公司关于"珀莱转债"预计满足转股价格修正条件的提示性公告 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。 一、可转债发行上市概况 经中国证券监督管理委员会《关于核准珀莱雅化妆品股份有限公司公开发行可转换公司债券 ...

Core Points - The company, Proya, announced that the period for the downward adjustment of the conversion price for its "Proya Convertible Bonds" will start from October 27, 2025, and end on November 7, 2025 [1] - As of November 7, 2025, the company's stock has closed below 85% of the current conversion price (which is 81.14 yuan/share) for ten trading days [1] - If the stock closes below 85% of the current conversion price for a cumulative total of fifteen trading days within a consecutive thirty-day period, it will trigger the conversion price adjustment clause for the "Proya Convertible Bonds" [1]

Core Viewpoint - The company announced an adjustment to its 2025 semi-annual profit distribution cash dividend total, maintaining a cash dividend of 8.00 yuan per 10 shares, resulting in a total cash dividend of approximately 315 million yuan, which represents 39.45% of the net profit attributable to shareholders [1][3][22]. Summary by Sections Profit Distribution Plan - The profit distribution plan was approved during the board meeting on September 11, 2025, with a cash dividend of 8.00 yuan per 10 shares (including tax) [1][9]. - The total number of shares for calculation is 396,005,292, after deducting shares in the company's repurchase account, leading to an estimated total cash dividend of 315,035,573.60 yuan (including tax) [3][15]. Changes Due to Convertible Bonds - The total share capital changed due to the conversion of the "Pola Convertible Bonds" starting from June 14, 2022, affecting the total number of shares [2][8]. - The adjusted total share capital for the dividend calculation is 393,794,467 shares, resulting in a cash dividend distribution of 0.80 yuan per share [15][19]. Adjustment of Convertible Bond Conversion Price - The conversion price of the "Pola Convertible Bonds" will be adjusted from 96.26 yuan per share to 95.46 yuan per share, effective from October 17, 2025 [10][22]. - The adjustment formula for the conversion price is based on the cash dividend distributed, calculated as P1 = P0 - D, where D is the cash dividend per share [11][22]. Tax Implications - For individual shareholders holding unrestricted shares, the cash dividend is 0.80 yuan per share, with tax implications varying based on the holding period [19][20]. - For foreign institutional investors, a 10% withholding tax applies, resulting in a net cash dividend of 0.72 yuan per share [20].

Core Viewpoint - The company announced a cash dividend distribution plan for the first half of 2025, with a payout of 8.00 yuan per 10 shares, amounting to a total distribution of approximately 315.23 million yuan, which represents 39.48% of the net profit attributable to shareholders [3]. Group 1: Dividend Distribution Plan - The dividend distribution plan is based on the total share capital as of June 30, 2025, which is 396,247,646 shares, excluding 2,210,825 shares held in the company's repurchase account [3]. - The plan was approved at the company's first extraordinary general meeting of 2025 held on September 11, 2025 [3]. - The company will not increase share capital from capital reserves or issue bonus shares as part of this distribution [3]. Group 2: Convertible Bonds and Trading Suspension - The company's convertible bonds will suspend conversion from October 10, 2025, until the record date for the dividend distribution [5]. - The adjusted conversion price for the convertible bonds will be announced alongside the dividend distribution implementation notice on October 13, 2025 [4][5]. - Holders of convertible bonds wishing to enjoy the dividend distribution must convert their bonds before October 9, 2025 [5]. Group 3: Contact Information - For further inquiries, the company can be contacted through its board office at phone number 0571-87352850 or via email at proyazq@proya.com [6].