Core Viewpoint - The announcement from Lian De Equipment indicates that the "Lian De Convertible Bonds" will stop conversion after the trading session on August 11, 2025, leading to potential significant investment losses for investors if the bonds are forcibly redeemed at a price of 101.70 yuan per bond [1]. Summary by Relevant Sections - **Company Announcement** - Lian De Equipment announced that there is only half a trading day left until the "Lian De Convertible Bonds" cease to be convertible [1]. - After the market closes on August 11, 2025, any unconverted "Lian De Convertible Bonds" will be forcibly redeemed at a price of 101.70 yuan per bond [1]. - **Investor Implications** - Investors may face substantial investment losses if the bonds are forcibly redeemed without conversion [1].

Core Viewpoint - Shenzhen Liande Automation Equipment Co., Ltd. is set to redeem its convertible bonds ("Liande Convertible Bonds") at a price of 101.70 yuan per bond, following the triggering of conditional redemption clauses due to the company's stock price performance [1][2][8]. Summary by Sections Convertible Bond Basic Information - The company issued 2 million convertible bonds on December 25, 2019, with a total value of 200 million yuan, and the initial conversion price was set at 25.39 yuan per share [2][3]. - The bond's conversion period is from July 1, 2020, to December 24, 2025 [3]. Conditional Redemption Trigger - From June 25, 2025, to July 15, 2025, the company's stock closed at or above 130% of the conversion price (30.654 yuan) for 15 trading days, triggering the conditional redemption clause [2][8]. Redemption Price and Calculation - The redemption price is set at 101.70 yuan per bond, which includes the principal and accrued interest calculated based on a coupon rate of 2.7% [8][9]. - The accrued interest per bond is approximately 1.70 yuan, calculated for the period leading up to the redemption date [9]. Redemption Process - The redemption will be executed on August 12, 2025, with funds transferred directly to the accounts of bondholders registered with the China Securities Depository and Clearing Corporation [9][10]. - Following the redemption, the Liande Convertible Bonds will be delisted from the Shenzhen Stock Exchange [1][9]. Shareholder Trading Activity - The company's major shareholders and executives have not traded the Liande Convertible Bonds in the six months leading up to the redemption conditions being met [10].

Core Viewpoint - Shenzhen Liande Automation Equipment Co., Ltd. announced that the "Liande Convertible Bonds" will stop conversion and be forcibly redeemed at a price of 101.70 yuan per bond after the market closes on August 8, 2025, with the redemption date set for August 12, 2025, highlighting the risk of significant investment losses for investors who do not convert their bonds into stocks [1][2][3] Summary by Sections Convertible Bond Basic Information - The company issued 2 million convertible bonds on December 25, 2019, with a total amount of 200 million yuan and a face value of 100 yuan per bond [2][3] - The initial conversion price was set at 25.39 yuan per share, which has undergone several adjustments due to corporate actions [3][4][5][6][7] Conditional Redemption Clause - The conditional redemption clause was triggered as the company's stock price was above 130% of the conversion price for 15 trading days within a 30-day period [2][8] - The company has the right to redeem all or part of the unconverted bonds if the stock price condition is met or if the remaining unconverted bonds are less than 30 million yuan [8][9] Redemption Price and Process - The redemption price is set at 101.70 yuan per bond, which includes accrued interest calculated based on the bond's face value and interest rate [9][10] - The redemption will be executed for all bondholders registered with the China Securities Depository and Clearing Corporation by the redemption registration date of August 11, 2025 [9][10] Other Important Notes - The company emphasizes the importance of converting bonds before the deadline to avoid forced redemption, which could lead to substantial losses for investors [1][2] - The company has confirmed that there were no transactions involving the convertible bonds by major shareholders and executives in the six months prior to the redemption conditions being met [10]

Group 1: New Stock Issuances - China Heavy Industry (601989) has a cash option declaration period from August 13, 2025[1] - China Shipbuilding (600150) has a buyback request period from August 13 to August 15, 2025[1] - Shenkai Co. (002633) has a tender offer period from July 29 to August 27, 2025[1] Group 2: Tender Offers and Mergers - ST Kelly (300326) has a tender offer period from July 17 to August 15, 2025[1] - Fushun Special Steel (600399) has a tender offer period from August 12 to September 10, 2025[1] - China Heavy Industry (601989) is involved in an absorption merger[1] Group 3: Abnormal Fluctuations - Tianlu Convertible Bond (110060) reported severe abnormal fluctuations on July 30, 2025[2] - Henghe Precision (300539) reported abnormal fluctuations on July 29, 2025[2] - ST Suwu (600200) reported abnormal fluctuations on August 6, 2025[2]

Group 1 - The core point of the news is that the Feilu convertible bond is approaching its last trading day, with a significant price difference between the market price and the redemption price, potentially leading to substantial losses for investors who do not act in time [1][4][5] - The last trading day for Feilu convertible bond is August 5, and it will stop trading after the market closes on that day [4][5] - Investors have until August 8 to convert their bonds into shares, after which any unconverted bonds will be forcibly redeemed at a price of 100.55 yuan per bond [5][8] Group 2 - As of August 5, the market price of Feilu convertible bond was 151.94 yuan, indicating a potential loss of 33.82% for investors who fail to convert or sell [1][5] - The unconverted proportion of Feilu convertible bond stands at 31%, with a total bond balance of 0.54 billion yuan [5] - Other convertible bonds, such as Yong'an, Liande, Qilu, and Chujian, are also facing redemption, with potential losses ranging from 17.10% to 33.83% if investors do not act promptly [10]

Core Viewpoint - The article discusses the early redemption of Feilu Convertible Bonds, highlighting the significant price difference between the market and redemption price, which poses a risk for investors who do not act in time [1][5][10]. Group 1: Feilu Convertible Bonds - Feilu Convertible Bonds will have their last trading day on August 5, with a market price of 151.94 CNY per bond, significantly higher than the redemption price of 100.55 CNY, indicating a potential loss of 33.82% for investors who do not convert or sell in time [1][5]. - The last conversion day for Feilu Convertible Bonds is August 8, after which any unconverted bonds will be forcibly redeemed at 100.55 CNY per bond [5][8]. - As of the latest data, 31% of Feilu Convertible Bonds remain unconverted, with a total bond balance of 0.54 billion CNY [5][6]. Group 2: Other Convertible Bonds - Other convertible bonds such as Yong'an, Liande, Qilu, and Chuanjiang will also face early redemption on August 6 and August 8, with potential losses of 33.83%, 22.76%, 17.10%, and 32.17% respectively for investors who do not act [10]. - The early redemption of convertible bonds is attributed to the continuous rise in bank stock prices, which triggers strong redemption conditions for several banks' convertible bonds [11]. - Investors are advised to sell their convertible bonds before the last trading day or convert them, as the trading rules change from T+0 to T+1 after conversion [11].

Core Viewpoint - The article highlights the imminent last trading days for several convertible bonds, particularly emphasizing the risks for investors who do not act in time, potentially leading to significant losses. Group 1: Flying Deer Convertible Bond - The last trading day for Flying Deer Convertible Bond is August 5, with a closing price of 157.80 yuan per bond as of August 4, indicating a potential loss exceeding 36% for investors who fail to act promptly [5][8]. - After August 8, any unconverted Flying Deer Convertible Bonds will be frozen and cease trading, with a forced redemption price of 100.55 yuan per bond [5][8]. - As of August 4, there remains a balance of 0.55 billion yuan of Flying Deer Convertible Bonds that have not been traded or converted, accounting for over 31% of the total [8]. Group 2: Other Convertible Bonds - Other convertible bonds, including Lian De, Yong An, Qi Lu, and Chu Jiang, will also reach their last trading days this week, specifically on August 6 and August 8 [10][14]. - Lian De Convertible Bond has a last trading day of August 6, with a forced redemption price of 101.70 yuan per bond after August 11 [10]. - Yong An Convertible Bond will also have its last trading day on August 6, with a forced redemption price of 101.4301 yuan per bond after August 11 [14]. - Qi Lu Convertible Bond's last trading day is August 8, with a forced redemption price of 100.7068 yuan per bond after August 13 [19]. - Chu Jiang Convertible Bond will stop trading on August 11, with a forced redemption price of 100.389 yuan per bond after August 13 [19]. - As of August 4, the remaining balances for Lian De, Yong An, Qi Lu, and Chu Jiang Convertible Bonds are 0.74 billion, 1.04 billion, 10.36 billion, and 2.78 billion yuan respectively, representing over 35%, 11%, 12%, and 15% of their total [24].

Group 1 - Fangyuan Co. plans to reduce its repurchased shares by 3,320,000 shares, which accounts for 0.65% of the total share capital, to supplement its working capital [1] - Kangtai Medical's shareholders intend to reduce their holdings by no more than 3.59% of the company's shares [1] - Zhigao Machinery is listed for new share subscription on the Beijing Stock Exchange [1] Group 2 - Convertible bond data includes various 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 stocks [2][4][6] - Notable convertible bonds include Beilu Convertible Bond with a current price of 133.000 and a conversion value of 134.90, and Zte Convertible Bond with a current price of 163.100 and a conversion value of 164.90 [2] - The remaining scale of several convertible bonds varies, with some having a significant proportion of the underlying stock, such as Hongfeng Convertible Bond at 7.95% [6]

New Stock Issuance - Guangdong JianKe issued new shares at a price of 6.56 on August 1, 2025[1] - ShenKe Co., Ltd. has a tender offer period from July 29 to August 27, 2025[1] - ST Kelly's tender offer period is from July 17 to August 15, 2025[1] Market Alerts - ST Zitian reported significant abnormal fluctuations on July 21, 2025[1] - ST Suwu experienced abnormal fluctuations on July 30, 2025[1] - ST Xizang Tianlu reported significant abnormal fluctuations on August 1, 2025[1] Other Notable Announcements - Huaneng Electric's announcement was made on August 1, 2025, regarding its stock code 603063[1] - ST Sai Long's announcement was made on August 1, 2025, with stock code 002898[1] - ST Green Kang's announcement was made on July 31, 2025, with stock code 002868[1]

Group 1 - A significant number of convertible bonds, exceeding 10, are facing mandatory redemption, prompting investors to pay attention to the last trading days and conversion details to avoid losses [1][2][3] - Companies such as China Shipbuilding Emergency, Lian De Equipment, and Chu Jiang New Materials have issued announcements regarding the early redemption of their convertible bonds, with specific redemption prices and deadlines outlined [2][4] - The last trading day for Bei Lu Convertible Bond is set for July 30, 2025, with a mandatory redemption price of 101.64 yuan per bond if not converted by August 4, 2025, leading to a potential loss of 23.58% for investors who do not convert [3][4] Group 2 - Most of the convertible bonds scheduled for mandatory redemption will reach their last trading days and conversion days in August 2025, requiring investors to closely monitor these timelines [4] - The redemption prices for the identified convertible bonds are generally above 110 yuan per bond, with some exceeding 150 yuan, indicating a risk of significant losses if investors fail to act in time [4] - Some companies, such as Microchip Biotech and Tongguang Cable, have opted not to redeem their convertible bonds early, citing conditions met for redemption but choosing to retain the bonds instead [7][8]