Core Viewpoint - The article discusses the recent proposals and decisions regarding various convertible bonds, including adjustments and redemption statuses, indicating a mixed sentiment in the market for these financial instruments [1][3][5]. Summary by Categories Convertible Bond Proposals - Jingneng Convertible Bond has proposed a downward adjustment [1]. - Jizhi, Hangyu, and Songlin Convertible Bonds will not be forcibly redeemed [1]. - Aowei, Wei22, and Hengyi Convertible Bonds will not undergo downward adjustments [1]. - Qizhong Convertible Bond is set for subscription on November 3 [1]. - Funi Convertible Bond has been listed [1]. Current Prices and Redemption Information - The current price of Montai Convertible Bond is 141.799, with a redemption price of 101.190, and the last trading day is October 24, 2025 [3]. - New23 Convertible Bond is priced at 144.636, with a redemption price of 100.219, and the last trading day is also October 24, 2025 [3]. - Enjie Convertible Bond has a current price of 127.714 and a redemption price of 101.440, with the last trading day on October 27, 2025 [3]. - Zshi Convertible Bond is priced at 137.805, with a redemption price of 100.190, and the last trading day is October 29, 2025 [3]. - Zchang Convertible Bond has a current price of 117.358, with a redemption price of 101.151, and the last trading day is October 29, 2025 [3]. Market Capitalization and Conversion Ratios - The remaining scale of Zshi Convertible Bond is 0.598 billion, with a market cap ratio of 0.96% [3]. - The remaining scale of Zchang Convertible Bond is 0.638 billion, with a market cap ratio of 1.83% [3]. - The remaining scale of Niutai Convertible Bond is 0.745 billion, with a market cap ratio of 2.71% [3]. - The remaining scale of Chunqiu Convertible Bond is 0.653 billion, with a market cap ratio of 0.98% [3]. - The remaining scale of Sheng24 Convertible Bond is 10.035 billion, with a market cap ratio of 6.24% [3].

Core Viewpoint - The company has decided not to exercise the early redemption rights for its convertible bonds, despite the stock price meeting the conditions for redemption [1] Group 1 - The company's stock price has been above 130% of the conversion price for 15 consecutive trading days from October 9 to October 29, 2025, triggering the redemption clause [1] - The board has determined not to exercise the early redemption right for this instance and for any future triggers within the next three months, from October 30, 2025, to January 29, 2026 [1] - After January 30, 2026, if the redemption conditions are met again, the company will reassess the situation [1]

Core Points - The company announced that it will not exercise the early redemption rights for the "Hangyu Convertible Bonds" during the upcoming three-month period from October 30, 2025, to January 29, 2026 [1] - The board will reassess the situation after January 30, 2026, and will hold a meeting to decide on the early redemption rights if the conditional redemption clauses are triggered again [1] Summary by Sections - **Company Announcement** - The company will hold the 33rd meeting of the fifth board on October 29, 2025, to review the proposal regarding the early redemption of "Hangyu Convertible Bonds" [1] - The decision was made to not redeem the bonds early and to refrain from exercising this right for the next three months [1] - **Future Considerations** - After January 30, 2026, if the conditional redemption clauses are triggered again, the board will convene to determine whether to exercise the early redemption rights [1]

Core Points - The company announced the interest payment schedule for its convertible bonds, "航宇转债," which will begin on August 21, 2025 [1][4] - The total amount of convertible bonds issued is 667 million yuan, with a maturity of 6 years and a face value of 100 yuan per bond [1][2] - The annual interest rate for the bonds is set at 0.20%, resulting in an interest payment of 0.20 yuan per bond [4][7] Summary by Sections Convertible Bond Issuance Overview - The company received approval from the China Securities Regulatory Commission to issue 667 million yuan of convertible bonds [1] - The bonds will be listed on the Shanghai Stock Exchange starting September 10, 2024, under the name "航宇转债" and code "118050" [1] Convertible Bond Conversion Price Adjustment - The conversion price for the bonds remains unchanged at 32.64 yuan per share after the company repurchased and canceled a small number of restricted stocks [2] - The latest conversion price was adjusted to 24.97 yuan per share effective June 3, 2025 [3] Interest Payment Plan - The interest payment period for the first year is from August 21, 2024, to August 20, 2025, with interest calculated based on the face value of the bonds [4][5] - The interest payment will be made within five trading days after the interest payment date [4] Payment Dates - The bondholders' registration date for interest payment is August 20, 2025 [4] - The ex-dividend date and interest payment date are both set for August 21, 2025 [4] Payment Method - The company has signed an agreement with the China Securities Depository and Clearing Corporation to handle the interest payment process [5] - Investors will receive their interest payments through designated institutions after the company transfers the funds [5] Taxation on Interest Income - Individual investors are subject to a 20% tax on interest income from the bonds, with the tax withheld by the payment institutions [6][7] - Non-resident enterprises are exempt from corporate income tax on the interest income from these bonds until December 31, 2025 [6][7] Contact Information - The company and its underwriter, CITIC Securities, have provided contact details for further inquiries [8]

Core Viewpoint - Guizhou Hangyu Technology Development Co., Ltd. is canceling its supervisory board and changing its registered capital, along with revising its articles of association and internal systems to enhance corporate governance and comply with legal requirements [1][2][3]. Summary by Sections Company Capital Changes - The company issued "Hangyu Convertible Bonds" which became convertible into shares starting from February 27, 2025. By May 30, 2025, the registered capital increased from RMB 147,788,988 to RMB 147,793,515 due to the conversion of bonds into shares [1]. - Following the 2024 annual profit distribution plan, the company will distribute a cash dividend of RMB 2.20 per 10 shares and increase capital by 3 shares for every 10 shares held, resulting in a total capital increase from RMB 147,793,515 to RMB 191,905,734 [2]. Governance Changes - The supervisory board will be abolished, and its legal responsibilities will be transferred to the audit committee of the board of directors, in accordance with the revised Company Law and relevant regulations [2][3]. - The articles of association will be amended to reflect these changes, including the terminology from "shareholders' meeting" to "shareholders' assembly" [3]. Articles of Association Revisions - Specific clauses in the articles of association will be revised to align with the new governance structure and legal requirements, ensuring the protection of shareholders' rights and the proper organization of the company [3][4].

Core Points - The company has announced an adjustment to the conversion price of its convertible bonds due to a rights distribution, with the new conversion price set at RMB 24.97 per share, down from RMB 32.64 per share [3][5] - The adjustment will take effect on June 3, 2025, and the bonds will resume conversion from May 30, 2025 [5][6] Summary by Sections 1. Announcement of Convertible Bonds - The company will issue 6,670,000 convertible bonds, with an initial conversion price of RMB 32.64 per share, valid from February 27, 2025, until the maturity date on August 20, 2030 [1] 2. Basis for Conversion Price Adjustment - The adjustment is based on the company's profit distribution plan, which includes a cash dividend of RMB 2.20 per 10 shares and a capital reserve conversion of 3 shares for every 10 shares held [2] 3. Method of Conversion Price Adjustment - The formula for adjusting the conversion price is provided, taking into account cash dividends and stock bonuses [2][4] 4. Details of the Adjustment - The adjusted conversion price is calculated as follows: P1 = (P0 - D) / (1 + n), where P0 is the original price, D is the cash dividend per share, and n is the stock bonus rate [5] - The final adjusted conversion price is RMB 24.97 per share, effective from June 3, 2025 [5] 5. Other Information - Investors can find more details in the company's prospectus published on August 19, 2024 [6]

Group 1 - The China Securities Convertible Bond Index opened with a slight increase of 0.02%, reaching 421.40 points [1] - Notable gainers in the convertible bond market include Weice Convertible Bond, Jialian Convertible Bond, Sailong Convertible Bond, Yitian Convertible Bond, and Zhongqi Convertible Bond, with increases of 25.00%, 3.17%, 2.83%, 2.82%, and 2.82% respectively [1] - Conversely, the biggest losers in the market are Puli Convertible Bond, Hongqiang Convertible Bond, Shangsheng Convertible Bond, Fuchun Convertible Bond, and Hangyu Convertible Bond, with declines of 2.38%, 1.34%, 0.78%, 0.62%, and 0.61% respectively [1]

Group 1 - The core point of the announcement is that the company has decided not to exercise the early redemption rights of the "Huangyu Convertible Bonds" despite triggering the conditional redemption clause due to stock price performance [3][9][15] - The board meeting was held on April 2, 2025, with all five directors present, and the decision was made unanimously [2][5] - The company will not exercise the early redemption rights for the next six months, from April 3, 2025, to October 2, 2025, even if the redemption conditions are met again [3][9][16] Group 2 - The "Huangyu Convertible Bonds" were issued for a total of 666.7 million yuan, with a maturity of six years and a conversion price of 32.64 yuan per share [10][12] - The conditional redemption clause was triggered as the company's stock price closed at or above 130% of the conversion price for at least 15 trading days within a 30-day period [9][15] - The board will reconvene to decide on the redemption rights if the conditions are triggered again after October 3, 2025 [3][16]

Group 1 - The board of directors of Guizhou Hangyu Technology Development Co., Ltd. held its 26th meeting on April 2, 2025, with all five directors present and in compliance with legal regulations [1][2] - The board approved the proposal not to redeem the "Hangyu Convertible Bonds" early, as the stock price met the conditions for conditional redemption [1][2] - The decision was made to treat all investors fairly, considering the company's fundamentals, stock price trends, and market conditions, with confidence in the company's long-term development [2] Group 2 - The company will not exercise the early redemption rights for the "Hangyu Convertible Bonds" for the next six months, from April 3, 2025, to October 2, 2025, even if the redemption conditions are triggered again [2] - The first trading day for recalculating the redemption conditions will be October 3, 2025, and the board will reconvene if the conditions are met again [2] - The voting results for the proposal were unanimous, with 5 votes in favor and none against or abstaining [2]