Group 1 - The China Securities Convertible Bond Index opened up by 0.02% [1] - Huafeng Convertible Bond rose over 4%, while Saili Convertible Bond increased by over 2% [1] - Other notable increases include Keshun Convertible Bond, Jincheng Convertible Bond, Ruida Convertible Bond, and Jiayi Convertible Bond, each rising over 1% [1] Group 2 - Yingji Convertible Bond fell by over 2%, with Zai22 Convertible Bond and Beilu Convertible Bond also declining by over 1% [1]

Core Viewpoint - The company announced a downward adjustment of the conversion price for its convertible bonds, "瑞达转债," due to the stock price falling below certain thresholds, impacting the bondholders and the company's financial strategy [1][6][10]. Group 1: Convertible Bond Basic Information - The company issued 6.5 million convertible bonds on June 29, 2020, with a total value of 650 million yuan and a maturity of six years [1]. - The initial conversion price was set at 29.82 yuan per share, effective from January 4, 2021 [2]. Group 2: Conversion Price Adjustments - The conversion price was adjusted from 29.82 yuan to 29.55 yuan on April 30, 2021, following a cash dividend distribution of 2.70 yuan per 10 shares [2]. - Subsequent adjustments occurred, with the conversion price changing to 29.22 yuan on May 16, 2022, and then to 29.00 yuan on June 5, 2023, after respective cash dividends of 3.30 yuan and 2.20 yuan per 10 shares [3][4]. - The conversion price was further adjusted to 28.78 yuan on May 13, 2024, and then to 28.65 yuan on November 11, 2024, following cash dividends of 2.20 yuan and 2.00 yuan per 10 shares [5][6]. Group 3: Conditions for Downward Adjustment - The downward adjustment clause was triggered when the company's stock price fell below 85% of the conversion price for 15 out of 30 consecutive trading days, specifically below 24.18 yuan [6][7]. - The company’s board proposed the adjustment, which was approved in a shareholder meeting on July 2, 2025, setting the new conversion price at 20.50 yuan, effective from July 3, 2025 [8][10]. Group 4: Shareholder Meeting and Approval Process - The board's proposal for the downward adjustment was submitted to the third extraordinary general meeting of shareholders, which approved the adjustment [9]. - The adjustment process included ensuring the new conversion price was not lower than the higher of the average stock price over the previous 20 trading days or the last trading day before the meeting [10].

Group 1 - The company issued 6.5 million convertible bonds with a total amount of 650 million yuan, approved by the China Securities Regulatory Commission [1][2] - The initial conversion price of the convertible bonds was set at 29.82 yuan per share, which has been adjusted multiple times [2][3][4] - As of June 30, 2025, the remaining number of convertible bonds is 6,489,375, with an unconverted ratio of 99.8365% [7] Group 2 - The conversion price was adjusted from 29.82 yuan to 29.55 yuan effective April 30, 2021, and further adjusted to 29.22 yuan effective May 16, 2022 [2][3] - The conversion price was subsequently adjusted to 29.00 yuan effective June 5, 2023, and to 28.78 yuan effective May 13, 2024 [4][5] - The latest adjustment set the conversion price to 28.65 yuan effective November 11, 2024, and to 28.45 yuan effective June 5, 2025 [5][6] Group 3 - The company distributed cash dividends of 2.70 yuan, 3.30 yuan, 2.20 yuan, and 1.30 yuan per 10 shares in different periods [2][3][4][5] - The company has a conditional buyback clause for the convertible bonds if the stock price falls below 70% of the conversion price [6] - The buyback period for the convertible bonds is set from August 15 to August 21, 2024, with a total of 97 bonds submitted for buyback [6][7]

Core Viewpoint - The credit rating agency maintains the long-term credit rating of Ruida Futures Co., Ltd. at AA with a stable outlook, indicating strong financial health and risk management capabilities [1][3]. Company Overview - Ruida Futures is an A-share listed futures company with a well-established risk management system and good corporate governance [3][12]. - As of March 2025, the company has a registered capital of 445 million yuan and is controlled by Fujian Ruida Holdings, which owns 75.57% of the shares [12][13]. Financial Performance - In 2024, the company reported significant growth in operating income and profit, with net profit ranking 8th in the futures industry and return on equity ranking 1st [5][12]. - The total assets of the company increased from 157.19 billion yuan in 2022 to 167.69 billion yuan by March 2025 [6][12]. - The company achieved an operating income of 21.06 billion yuan in 2022, which decreased to 9.26 billion yuan in 2023 but rebounded to 18.10 billion yuan in 2024 [6][19]. Business Segments - The company operates in multiple business areas, including futures brokerage, asset management, and risk management, with the risk management segment showing substantial growth [18][24]. - In 2024, the asset management business saw a revenue increase of 201.70%, while the risk management business revenue surged by 308.39% [18][24]. Market Position - Ruida Futures has a strong market presence with 43 branches across economically vibrant regions in China, enhancing its competitive edge [12][13]. - The company’s market share in futures brokerage increased to 0.90% by the end of 2024, reflecting its growing competitiveness [20][22]. Regulatory Environment - The futures industry in China is supported by a comprehensive regulatory framework, which has been continuously improved to ensure market stability and growth [11][10]. - The company has faced regulatory scrutiny, necessitating improvements in internal controls and compliance management [15][16]. Future Outlook - The company is expected to maintain its competitive strength as the capital market continues to develop and its business expands [3][4]. - Potential factors for rating upgrades include significant enhancements in capital strength and external support from shareholders [3][4].

Core Viewpoint - The companies Caitong Securities and Ruida Futures have announced a proposal to lower the conversion price of their convertible bonds, marking the first time in four to five years that such a proposal has been made despite previous triggers for price adjustments [4][8]. Group 1: Company Actions - Caitong Securities and Ruida Futures have initiated actions to lower the conversion prices of their respective convertible bonds, Caitong Convertible Bond and Ruida Convertible Bond [4][8]. - Caitong Securities reported that from May 26 to June 16, its stock price had closed below 80% of the current conversion price for 15 out of 30 trading days, triggering the adjustment clause [4][11]. - The board of Caitong Securities has approved the proposal to lower the conversion price, which will be submitted for shareholder approval [4][8]. Group 2: Market Impact - Following the announcement of the proposed price adjustments, the secondary market prices of the convertible bonds reacted positively, with Caitong Convertible Bond rising by 4.65% to 120.012 yuan and Ruida Convertible Bond increasing by 1.12% to 120.35 yuan on June 17 [11]. - The current outstanding balances of Caitong Convertible Bond and Ruida Convertible Bond are 3.799 billion yuan and 649 million yuan, respectively, with conversion rates of 99.99% and 99.84% remaining unconverted [10][11]. Group 3: Strategic Intent - The rationale behind the proposed price adjustments is to optimize the companies' capital structures, enhance their competitive positions, and support long-term development while protecting the interests of bondholders [8][11]. - Both companies have indicated that the decision to lower the conversion prices is based on a comprehensive consideration of market conditions and stock price trends [8].

Core Viewpoint - The article discusses the upcoming subscription for Guangxin Technology and the speculative nature of its potential stock performance, highlighting differing opinions on expected returns and market behavior [1]. Group 1: Guangxin Technology Subscription - Guangxin Technology is set to be subscribed, with discussions around the expected performance of its stock post-listing [1]. - Some market participants believe that the stock price needs to exceed 50 yuan for investors to break even, indicating a 400% increase from the issue price of 10 yuan [1]. Group 2: Market Reactions and Speculations - There are reports of intermediaries offering 0.19% returns for acquiring subscription accounts, suggesting a high level of speculation in the market [1]. - The optimistic projection that 200 shares of Guangxin Technology could yield over 8000 yuan raises questions about the realism of such expectations [1]. Group 3: Related Corporate Actions - Financial instruments such as Caotong Convertible Bonds and Ruida Convertible Bonds are proposed for down adjustment by their boards [1]. - Aggregation Shun has received a warning from the Zhejiang Securities Regulatory Commission for misusing raised funds for financial management [1]. - Dongfang Shenghong's controlling shareholder plans to increase its stake in the company by 500 million to 1 billion yuan [1].

Core Viewpoint - The company proposes to adjust the conversion price of its convertible bonds due to the stock price falling below a certain threshold, aiming to enhance the investment value of the bonds and protect the interests of bondholders [1][9]. Group 1: Convertible Bond Basic Information - The company issued 6.5 million convertible bonds with a total value of 650 million yuan, with a maturity of 6 years starting from July 3, 2020 [1][2]. - The initial conversion price was set at 29.82 yuan per share, with subsequent adjustments made over time [2][3]. Group 2: Conversion Price Adjustments - The conversion price has been adjusted multiple times: from 29.82 yuan to 29.55 yuan on April 30, 2021, then to 29.22 yuan on May 16, 2022, and further down to 29.00 yuan on June 5, 2023 [2][3][4]. - The latest adjustment proposed is from 28.78 yuan to 28.65 yuan, effective from November 11, 2024 [5]. Group 3: Trigger for Price Adjustment - The company has triggered the downward adjustment clause for the conversion price as the stock price has been below 85% of the current conversion price for 15 out of the last 30 trading days [1][6][9]. - The proposed adjustment will require approval from shareholders, needing a two-thirds majority vote [7][9]. Group 4: Shareholder Meeting and Voting - The board of directors will submit the proposal for the conversion price adjustment to the shareholders' meeting, where bondholders must abstain from voting [7][9]. - The adjusted conversion price must not be lower than the higher of the average stock price over the last 20 trading days or the last trading day before the meeting [9]. Group 5: Additional Information - The conversion period for the bonds is from January 4, 2021, to June 28, 2026, and the company encourages investors to be aware of investment risks [10].

Group 1 - The company held its fifth board meeting on June 16, 2025, where it was confirmed that the stock price had fallen below 85% of the conversion price for 15 out of the last 30 trading days, triggering the downward adjustment clause for the "Rida Convertible Bonds" [1] - The board proposed to lower the conversion price of the "Rida Convertible Bonds" to enhance investment value and optimize the capital structure, while protecting the interests of bondholders [2] - The board's proposal will be submitted for approval at the upcoming third extraordinary general meeting of shareholders scheduled for July 2, 2025 [4] Group 2 - The board meeting reached a unanimous decision with 7 votes in favor and no opposition or abstentions regarding the proposal to adjust the conversion price [3] - The company plans to establish a futures business department in Guangzhou, with the management authorized to determine the specific plan and submit the application according to regulatory requirements [3]

Group 1 - The fifth meeting of the board of directors of Ruida Futures Co., Ltd. was held on May 16, 2025, in Xiamen, combining on-site and remote participation [1] - All 7 directors attended the meeting, with 4 participating via remote communication [1] - The board approved the proposal to continue using self-owned funds for financial management and securities investment, with a unanimous vote of 7 in favor [1] Group 2 - The board also approved the appointment of a new deputy general manager, with the same unanimous voting outcome of 7 in favor [2]

证券代码：002961 证券简称：瑞达期货 公告编号：2025-026 债券代码：128116 债券简称：瑞达转债 瑞达期货股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 证券代码：002961，证券简称：瑞达期货 债券代码：128116，债券简称：瑞达转债 转股价格：人民币 28.65 元/股 转股时间：2021 年 1 月 4 日至 2026 年 6 月 28 日 根据《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管 指引第 15 号——可转换公司债券》的有关规定，瑞达期货股份有限公司（以下 简称"公司"）现将 2025 年第一季度可转换公司债券（以下简称"可转债"） 转股及公司股份变动情况公告如下： 告编号：2021-034）。 （公 派股权登记日登记在册的全体股东每 10 股派发现金红利 3.30 元（含税），不送 红股、不以资本公积金转增股本。根据"瑞达转债"转股价格调整的相关条款， "瑞达转债"的转股价格作相应调整，调整前"瑞达转债"转股价格为 29.55 元 /股，调整后转股价格为 29.22 元/股，调整 ...