1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report - In the context of the slow - bull expectation in the equity market and the pattern where the demand in the convertible bond market is stronger than the supply and is difficult to change, convertible bonds remain relatively high - quality assets in the long run. Currently, the overall valuation level is relatively high, and more efforts need to be made in the structure [4]. 3. Summary by Related Catalogs Market行情 - From September 22 to September 26, 2025 (5 trading days), the CSI Convertible Bond Index rose by +0.9% (last week's change was - 1.5%), turning positive this week; the CSI All - Share Index changed by +0.2% (last week's change was - 0.2%). The convertible bonds outperformed equities this week, for the first time in a month. Since the beginning of 2025, the CSI Convertible Bond Index has risen by +15.3%, and the CSI All - Share Index has risen by +21.3%. The convertible bond market has underperformed the equity market [1]. - By rating, high - rated bonds (rated AA + and above), medium - rated bonds (rated AA), and low - rated bonds (rated AA - and below) rose by +0.69%, +0.86%, and +0.51% respectively this week, with low - rated bonds having the smallest increase [1]. - By convertible bond scale, large - scale convertible bonds (bond balance greater than 5 billion yuan), medium - scale convertible bonds (balance between 500 million and 5 billion yuan), and small - scale convertible bonds (balance less than 500 million yuan) rose by +0.73%, +1.01%, and +0.01% respectively this week, with small - scale convertible bonds having the smallest increase [1]. - By conversion parity, ultra - high - parity bonds (conversion value greater than 130 yuan), high - parity bonds (conversion value between 110 and 130 yuan), medium - parity bonds (conversion value between 90 and 110 yuan), low - parity bonds (conversion value between 70 and 90 yuan), and ultra - low - parity bonds (conversion value less than 70 yuan) rose by +1.15%, +0.69%, +0.38%, +0.36%, and +0.36% respectively this week, with ultra - high - parity bonds having the largest increase [2]. Convertible Bond Price, Parity, and Conversion Premium Rate - As of September 26, 2025, there were 427 outstanding convertible bonds (432 at the end of last week), with a balance of 593.378 billion yuan (599.191 billion yuan at the end of last week). The average convertible bond price was 130.44 yuan (130.41 yuan last week), with a quantile of 98.4%; the average convertible bond parity was 104.27 yuan (105.51 yuan last week), with a quantile of 94.3%; the average conversion premium rate was 26.0% (25.2% last week), with a quantile of 49.6%. Among them, the conversion premium rate of medium - parity convertible bonds (conversion value between 90 and 110 yuan) was 28.8% (28.1% last week), higher than the median conversion premium rate of medium - parity convertible bonds since 2018 (20.3%) [3]. Convertible Bond Performance and Allocation Direction - The CSI Convertible Bond Index rose by +0.9% this week, and convertible bonds outperformed equities for the first time in a month. Since the beginning of 2025, the convertible bond market has underperformed the equity market. In the long run, convertible bonds are still relatively high - quality assets, but the current valuation is high, and more attention should be paid to the structure [4]. Convertible Bond Increase Situation - The top 15 convertible bonds in terms of increase this week include Jize Convertible Bond, Huicheng Convertible Bond, etc. For example, Jize Convertible Bond rose by 25.83%, and its underlying stock, Jize New Energy, rose by 18.22% [23].

Core Viewpoint - The company announced an adjustment to the conversion price of its convertible bonds, "精达转债," due to a cash dividend distribution, reducing the conversion price from 3.35 CNY to 3.32 CNY per share, effective from October 13, 2025 [2][4][5]. Group 1: Conversion Price Adjustment - The previous conversion price of "精达转债" was 3.35 CNY per share [2]. - The adjusted conversion price is 3.32 CNY per share [4]. - The adjustment is based on the company's decision to distribute a cash dividend of 0.3 CNY per 10 shares, which was approved at the shareholder meeting on September 16, 2025 [2][5]. Group 2: Dividend Distribution - The total cash dividend distribution amounts to approximately 64.48 million CNY, based on a total share capital of 2,149,182,634 shares [10]. - The cash dividend per share is set at 0.03 CNY [7][10]. - The dividend distribution will be executed on the basis of the company's total share capital as of the record date [8]. Group 3: Suspension and Resumption of Conversion - The conversion of "精达转债" will be suspended from September 26, 2025, to October 10, 2025, and will resume on October 13, 2025 [5][4].

Group 1 - The company announced a profit distribution plan for the first half of 2025, proposing a cash dividend of 0.30 yuan per 10 shares to all shareholders [1][2] - The profit distribution plan was approved at the second extraordinary general meeting of shareholders held on September 16, 2025 [1] - The total amount of distribution will be adjusted based on changes in total share capital due to convertible bonds conversion before the record date [1] Group 2 - The company will publish the implementation announcement of the profit distribution and the adjustment of the convertible bond conversion price on September 27, 2025 [2] - The "Jingda Convertible Bond" will suspend conversion from September 26, 2025, until the record date, with resumption on the first trading day after the record date [2] - Holders of convertible bonds wishing to enjoy the profit distribution must convert their bonds before September 25, 2025 [2]

证券代码：600577 证券简称：精达股份 公告编号：2025-046 债券代码：110074 债券简称：精达转债 铜陵精达特种电磁线股份有限公司 关于"精达转债"2025 年付息的公告 本公司董事会及全体董事保证本公司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： ?可转债付息债权登记日：2025 年 8 月 18 日 ?可转债除息日：2025 年 8 月 19 日 ?可转债兑息日: 2025 年 8 月 19 日 铜陵精达特种电磁线股份有限公司（以下简称"公司"）于 2020 年 8 月 19 日发行的可转换公司债券(以下简称"可转债")将于 2025 年 8 月 19 日开始支付 自 2024 年 8 月 19 日至 2025 年 8 月 18 日期间的利息。根据本公司《公开发行可 转换公司债券募集说明书》有关条款的规定，现将有关事项公告如下： 一、本期债券的基本情况 五年 1.8%、第六年 2.0%。 和最后一年利息。 （1）年利息计算 年利息指可转换公司债券持有人按持有的可转换公司债券票面总金额自可 转换公司债券发行首日起每满一 ...

债券代码：110074 债券简称：精达转债 铜陵精达特种电磁线股份有限公司 铜陵精达特种电磁线股份有限公司（以下简称"公司"）于 2025 年 7 月 31 日召开第九届董事会第四次会议、第九届监事会第三次会议分别审议通过了 《关于调整公司向不特定对象发行可转换公司债券方案的议案》等相关议案， 对公司向不特定对象发行可转换公司债券方案进行调整，《铜陵精达特种电磁线 股份有限公司 2023 年度向不特定对象发行可转换公司债券预案（修订稿）》及 相关文件已于同日在中国证监会指定的信息披露网站上海证券交易所网站 （www.sse.com.cn）上披露，敬请投资者注意查阅。 证券代码：600577 证券简称：精达股份 公告编号：2025-042 关于向不特定对象发行可转换公司债券预案（修订稿） 披露的提示性公告 本公司董事会及全体董事保证本公司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。 特此公告。 铜陵精达特种电磁线股份有限公司董事会 预案修订稿披露事项不代表审批机关对于本次向不特定对象发行可转换公 司债券事项的实质性判断、确认或批准，预案修订稿所述本次向不 ...

证券代码：600577 证券简称：精达股份 公告编号：2025-040 债券代码：110074 债券简称：精达转债 铜陵精达特种电磁线股份有限公司 第九届监事会第三次会议决议公告 本公司监事会及全体监事保证本公司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、监事会会议召开情况 第三次会议于 2025 年 7 月 31 日以现场表决的方式召开。 二、监事会会议审议情况 稿）的议案》 具体内容详见公司于 2025 年 8 月 1 日刊登于上海证券交易所网站的《精达 股份 2023 年度向不特定对象发行可转换公司债券预案（修订稿）》。 用可行性分析报告（修订稿）的议案》 同意 3 票，反对 0 票，弃权 0 票，审议通过。 同意 3 票，反对 0 票，弃权 0 票，审议通过。 具体内容详见公司于 2025 年 8 月 1 日刊登于上海证券交易所网站的《精达 股份关于调整向不特定对象发行可转换公司债券方案及相关文件修订情况说明 的公告》。 分析报告（修订稿）的议案》 同意 3 票，反对 0 票，弃权 0 票，审议通过。 具体内容详见公司于 2025 年 8 ...

Core Viewpoint - The announcement details the conversion results of the convertible bonds issued by Tongling Jingda Special Electromagnetic Wire Co., Ltd., highlighting the total amount converted and the remaining unconverted bonds as of June 30, 2025 [2][6]. Group 1: Conversion Summary - From February 25, 2021, to June 30, 2025, the total amount converted from Jingda convertible bonds is RMB 516,897,000, resulting in 144,439,040 shares, which accounts for 7.52% of the company's total shares before conversion [2][6]. - For the quarter from April 1, 2025, to June 30, 2025, the conversion amount is RMB 177,000, leading to 52,343 shares, representing 0.0027% of the total shares before conversion [2][6]. - As of June 30, 2025, the unconverted amount of Jingda convertible bonds is RMB 270,103,000, which is 34.32% of the total issued convertible bonds [2][6]. Group 2: Bond Issuance Overview - The company issued 7.87 million convertible bonds on August 19, 2020, with a total value of RMB 78.7 million and a maturity period of six years [3]. - The bonds were listed on the Shanghai Stock Exchange on September 21, 2020, under the name "Jingda Convertible Bonds" with the code "110074" [3]. - The conversion price has been adjusted multiple times due to profit distributions, with the latest adjustment setting the price at RMB 3.57 per share effective from May 4, 2023 [5].

Summary of Key Points Core Viewpoint - The announcement details the conversion results of the company's convertible bonds, highlighting the total amount converted and the impact on the company's share capital structure. Group 1: Convertible Bond Conversion Overview - From February 25, 2021, to June 30, 2025, the total amount converted from the convertible bonds is RMB 516,897,000, resulting in 144,439,040 shares, which represents 7.52% of the company's total shares before conversion [1] - In the quarter from April 1, 2025, to June 30, 2025, the conversion amount is RMB 177,000, accounting for 0.02% of the total issued convertible bonds, with 52,343 shares created from this conversion [4] - As of June 30, 2025, the remaining unconverted amount of the convertible bonds is RMB 270,103,000, which is 34.32% of the total issued convertible bonds [1] Group 2: Issuance and Trading of Convertible Bonds - The company issued 7.87 million convertible bonds on August 19, 2020, with a total value of RMB 78,700,000 and a maturity of 6 years [2] - The bonds began trading on the Shanghai Stock Exchange on September 21, 2020, under the name "精达转债" and code "110074" [2] - The conversion price of the bonds has been adjusted multiple times, with the latest adjustment setting it at RMB 3.35 per share [3][4] Group 3: Share Capital Changes - Prior to the conversion, the total share capital was 2,149,125,221 shares, which increased to 2,149,177,564 shares after the conversion of 52,343 shares [5]

Group 1 - The Zhongzheng Convertible Bond Index opened high at 0.07% [1] - The 22 Convertible Bond increased by 4.8%, while the Shanhe Convertible Bond rose by 2.7% [1] - The Jingda Convertible Bond and Huamao Convertible Bond both increased by over 1% [1] Group 2 - The Diou Convertible Bond decreased by 1.5%, and the Rongtai Convertible Bond fell by nearly 1% [1]

Group 1 - The company, Tongling Jingda Special Electromagnetic Wire Co., Ltd., has received acceptance from the Shanghai Stock Exchange for its application to issue convertible bonds to unspecified objects [1] - The application documents submitted by the company were found to be complete and in compliance with legal requirements by the Shanghai Stock Exchange [1] - The issuance of convertible bonds is subject to further review by the Shanghai Stock Exchange and approval from the China Securities Regulatory Commission, indicating uncertainty regarding the final approval [1][2] Group 2 - The company will fulfill its information disclosure obligations based on the progress of this matter, urging investors to pay attention to investment risks and to invest rationally [2]