Core Points - The company has decided to repurchase and cancel 40,000 shares of restricted stock due to a violation of laws and regulations by one of the incentive plan participants, resulting in the termination of their employment [1][2][3] - The total repurchase price for the canceled shares amounts to RMB 249,200 [1][3] - The company will recover the corresponding cash dividends for the repurchased shares [1] Summary by Sections Repurchase and Cancellation Details - The decision for the repurchase and cancellation was approved during the board and supervisory meetings held on August 27, 2025 [1][2] - The repurchase is based on the company's incentive plan, which stipulates that shares granted to individuals who violate laws or company policies must be canceled [2][3] - After the cancellation, the remaining shares under the incentive plan will total 140,000 [3] Legal and Compliance - The company has fulfilled the necessary legal procedures for notifying creditors regarding the repurchase [2] - The board confirmed that the decision-making process and disclosures comply with relevant laws and regulations [4] Impact on Share Structure - Following the repurchase, the company's share structure will be adjusted, but the final results will be confirmed by the securities registration company [3] - The repurchase will not significantly impact the company's financial status or operational results [4] Convertible Bond Information - The repurchase of restricted shares will not lead to an adjustment in the conversion price of the company's convertible bonds, which remains at RMB 41.71 per share [6][10] - The company issued 40 million convertible bonds in May 2022, with an initial conversion price of RMB 43.94 per share [6]

Core Viewpoint - The company announced that after the completion of the repurchase and cancellation of restricted stock, the conversion price of "Fulei Convertible Bonds" will remain unchanged at 41.71 yuan per share [2] Group 1 - The company completed the repurchase and cancellation of restricted stock [2] - The conversion price of "Fulei Convertible Bonds" will not be adjusted [2]

Core Viewpoint - The announcement details the completion of the fifth unlock period for the 2020 A-share restricted stock incentive plan of Fuyao Glass Group Co., Ltd, allowing 820,000 shares to be listed and traded starting September 3, 2025 [1][12][24] Summary by Sections Incentive Plan Overview - The incentive plan involves the initial grant of restricted stock, with a total of 820,000 shares set to be released from restrictions [1][12] - The shares will be available for trading on September 3, 2025 [1][12] Approval Process - The incentive plan has undergone necessary approvals from the company's board and shareholders, including independent directors' consent [1][2][23] - The plan was publicly disclosed and no objections were raised during the public comment period [2][23] Grant and Unlocking Details - The initial grant date for the restricted stock was August 11, 2020, with a total of 4.6 million shares awarded to 15 individuals at a price of 6.23 yuan per share [10][12] - The fifth unlock period conditions have been met, allowing for the release of 820,000 shares, which represents 20% of the total granted shares [12][18] Performance Metrics - The company achieved a revenue growth rate of 288.67% from 2019 to 2024, surpassing the required 100% growth for the unlock conditions [15][16] - All but one of the incentive recipients met the performance evaluation criteria, with 13 individuals eligible for the unlock [17][23] Stock Structure Changes - Following the unlock, the total number of restricted shares will decrease, with adjustments made for shares that were repurchased due to non-compliance by certain recipients [21][22] - The total number of shares before and after the unlock will be updated accordingly, reflecting the changes in the stock structure [22] Legal and Financial Opinions - Legal and financial advisors have confirmed that the unlock and repurchase processes comply with relevant laws and regulations, ensuring no harm to the company or shareholders [24]

Core Viewpoint - The report outlines the issuance and management of Flat Glass Group Co., Ltd.'s convertible bonds, detailing the financial performance, bond terms, and the company's operational status in 2024, highlighting significant challenges faced in the photovoltaic glass market and the impact on profitability [1][2][3]. Section Summaries Bond Issuance and Approval - The issuance plan for the convertible bonds was approved by the company's board on June 16, 2021, and subsequently by shareholders on August 20, 2021, with a total issuance limit of up to 4 billion RMB [2][3]. - The company issued 40 million convertible bonds at a face value of 100 RMB each, raising a total of 4 billion RMB, with a net amount of approximately 3.98 billion RMB after deducting issuance costs [3][4]. Bond Terms - The bonds have a six-year term, with annual interest rates starting at 0.3% in the first year and increasing to 2.0% in the sixth year, with interest paid annually [5][6]. - The initial conversion price for the bonds was set at 43.94 RMB per share, subject to adjustments based on various corporate actions [6][7]. Financial Performance - For the fiscal year 2024, the company reported a net profit attributable to shareholders of 100.66 million RMB, a decrease of 63.52% year-on-year, with total assets of approximately 4.29 billion RMB, reflecting a slight decrease of 0.14% [19][20]. - The company's revenue fell by 13.20% to approximately 1.87 billion RMB, primarily due to declining market prices for photovoltaic glass [19][20]. Use of Proceeds - The proceeds from the bond issuance are allocated to projects including the production of ultra-thin solar panels and the technological upgrade of photovoltaic glass production, with a total investment of approximately 446.53 million RMB [15][21]. Bondholder Rights and Meetings - Bondholders have specific rights, including the ability to convert bonds into shares, exercise buyback rights under certain conditions, and participate in bondholder meetings to discuss significant corporate actions [16][23]. - The company held multiple bondholder meetings in 2023 and 2024 to discuss matters such as share buybacks and the management of bondholder interests [22][24]. Credit Rating - The bonds received a credit rating of AA from China Chengxin International Credit Rating Co., Ltd., indicating a stable outlook for the bond's creditworthiness [18][19].

Core Viewpoint - The credit rating for Fuyat Glass Group Co., Ltd. remains stable with both the company and its convertible bond rated "AA" [1][2]. Group 1 - The previous credit rating for the company was "AA" and the outlook was stable [2]. - The current credit rating results for both the company and the convertible bond are "AA" with a stable outlook, indicating no change from the previous rating [1][2]. - The tracking credit rating report was issued by China Chengxin International Credit Rating Co., Ltd. on May 23, 2025 [2].

Core Points - The company will pay interest on its convertible bonds on May 20, 2025, for the period from May 20, 2024, to May 19, 2025 [1][4] - The interest rate for the third year is set at 1.0%, resulting in a payment of RMB 1.00 per bond with a face value of RMB 100 [4][6] - The bonds were issued on May 20, 2022, with a total issuance amount of RMB 4 billion (40 million bonds) [3][4] Bond Details - The bonds are convertible into the company's A-shares, with an initial conversion price of RMB 43.94 per share, currently adjusted to RMB 41.71 per share [4] - The bonds have a six-year term, maturing on May 19, 2028, with annual interest payments [1][3] - The bonds are rated AA by a credit rating agency, indicating a strong credit quality [4] Payment Schedule - The bondholders' record date for interest payment is May 19, 2025, with the interest payment date also set for May 20, 2025 [5][6] - The company has appointed a custodian for the bond interest payments, ensuring timely distribution to bondholders [5][6] Tax Implications - Individual investors are subject to a 20% tax on interest income, resulting in a net payment of RMB 0.80 per bond after tax [6][8] - Non-resident institutional investors are exempt from corporate income tax on the bond interest [7][8]

Summary of Key Points Core Viewpoint - The announcement details the conversion results of the convertible bonds issued by Fuyao Glass Group Co., Ltd., highlighting the low conversion rate and the remaining unconverted bonds. Group 1: Convertible Bond Issuance Overview - Fuyao Glass Group Co., Ltd. issued 40 million convertible bonds with a total value of RMB 4 billion on May 20, 2022, with a maturity of six years and a tiered interest rate starting from 0.3% in the first year to 2.0% in the sixth year [1][2]. - The initial conversion price was set at RMB 43.94 per share, with the conversion period from November 28, 2022, to May 19, 2028 [2]. Group 2: Conversion Status - As of March 31, 2025, a total of RMB 112,000 worth of convertible bonds have been converted into 2,584 shares, representing 0.0001% of the total shares issued prior to conversion [1][3]. - The amount of unconverted convertible bonds as of the same date stands at RMB 3,999,888,000, which accounts for 99.9972% of the total issuance [1][3]. Group 3: Share Changes - The total number of shares increased from 2,342,919,565 to 2,342,920,139 due to the conversion of bonds, with a minor increase in the number of unrestricted shares [4].

| 证券代码：601865 | 证券简称：福莱特 | 公告编号：2025-013 | | --- | --- | --- | | 转债代码：113059 | 转债简称：福莱转债 | | 福莱特玻璃集团股份有限公司 关于不向下修正"福莱转债"转股价格的公告 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： ● 自 2025 年 2 月 7 日起至 2025 年 2 月 27 日，福莱特玻璃集团股份有限公 司（以下简称"公司"或"本公司"）A 股股票已满足连续 30 个交易日中至少有 15 个交易日的收盘价低于当期转股价格 90%（37.54 元/股）的条件，已触发"福 莱转债"转股价格的向下修正条款。 ● 经公司第七届董事会第四次会议决议，公司董事会决定不向下修正"福莱 转债"的转股价格，并且在未来 12 个月内（即自 2025 年 2 月 28 日至 2026 年 2 月 27 日期间），公司股价若再次触发此条款，亦不向下修正"福莱转债"的转股 价格。从 2026 年 2 月 28 日（如遇节假日，则顺延至下一个 ...

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、"福莱转债"发行上市概况 （一）"福莱转债"基本情况 （二）转股价格调整情况 | 证券代码：601865 | 证券简称：福莱特 | 公告编号：2025-011 | | --- | --- | --- | | 转债代码：113059 | 转债简称：福莱转债 | | 福莱特玻璃集团股份有限公司 关于"福莱转债"预计满足转股价格修正条件的提示性公告 经中国证券监督管理委员会证监许可[2022]664 号文《关于核准福莱特玻璃 集团股份有限公司公开发行可转换公司债券的批复》核准，福莱特玻璃集团股份 有限公司（简称"公司"）于 2022 年 5 月 20 日向社会公众公开发行了 4,000 万张 A 股可转换公司债券，每张面值人民币 100 元，发行总额人民币 40 亿元，债券 期限为发行之日起六年（即自 2022 年 5 月 20 日至 2028 年 5 月 19 日），债券票 面利率为：第一年 0.3%、第二年 0.5%、第三年 1.0%、第四年 1.5%、第五年 1.8%、 第六 ...