Group 1 - Company Yiyigou and its wholly-owned subsidiary Yiyigou Technology Group have jointly invested to establish Sichuan Jindoudou Smart Technology Co., Ltd. with a registered capital of 50 million yuan [1] - Jindoudou Smart Technology will focus on the operation of non-pharmaceutical health products and will build a specialized selection, procurement, warehousing, and distribution system, as well as a data-driven service capability [1] - This investment aims to help the company create a competitive ecosystem in the non-pharmaceutical industry [1] Group 2 - As of now, there is only half a trading day left until the "Feilu Convertible Bond" stops conversion [1] - After the market closes on August 8, the unconverted "Feilu Convertible Bond" will be forcibly redeemed at a price of 100.55 yuan per bond [1] - There is a significant difference between the secondary market price of the "Feilu Convertible Bond" and the redemption price, prompting a reminder for bondholders to convert in time to avoid potential losses [1]

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]

Core Points - The company has triggered the conditional redemption clause for its convertible bonds due to the stock price exceeding 130% of the conversion price for 15 consecutive trading days [2][7] - The redemption price for the convertible bonds is set at 100.55 CNY per bond, which includes accrued interest [8][7] - Investors are advised to convert their bonds before the redemption date to avoid potential losses, as unconverted bonds will be forcibly redeemed [1][8] Summary by Sections Convertible Bond Basic Information - The company issued 177 million CNY of convertible bonds on June 5, 2020, with a face value of 100 CNY each, totaling 1,770,000 bonds [2] - The bonds were listed on the Shenzhen Stock Exchange on July 3, 2020, under the name "Feilu Convertible Bonds" [3] Conversion Period and Price Adjustments - The conversion period for the bonds is from December 11, 2020, to June 4, 2026 [3] - The initial conversion price was set at 9.9 CNY per share, which has been adjusted multiple times due to various corporate actions [4][5][6] Conditional Redemption Clause - The company has the right to redeem the bonds if the stock price conditions are met or if the remaining unconverted bonds are less than 30 million CNY [7] - The stock price condition was met between June 24, 2025, and July 14, 2025, triggering the redemption clause [7] Redemption Implementation - The redemption will occur on August 8, 2025, with the redemption price being 100.55 CNY per bond [8] - All bondholders registered with the China Securities Depository and Clearing Corporation will be eligible for redemption [8] Additional Information - The company confirms that there have been no transactions in the convertible bonds by major stakeholders in the six months prior to the redemption condition being met [8]

Core Viewpoint - The A-share market has seen a significant number of convertible bonds delisted this year, primarily due to mandatory redemptions triggered by rising stock prices, indicating a strong bullish trend in the market [2][4]. Group 1: Convertible Bond Market Dynamics - As of August 6, 2023, a total of 71 convertible bonds have been delisted from the A-share market this year, with 51 of these delistings resulting from redemptions, accounting for approximately 71% of the total [2][4]. - The average price increase of A-shares has been 25.9% year-to-date, which has led to a surge in mandatory redemptions of convertible bonds as stock prices meet the conditions for forced redemption [2][5]. - The strong performance of underlying stocks is driving companies to redeem convertible bonds to reduce interest costs and optimize capital structure [2][5]. Group 2: Specific Cases of Redemption - The "Qilu Convertible Bond" will have its last conversion day on August 13, 2023, with a redemption price of 100.7086 CNY per bond, while its closing price was 124.498 CNY as of August 6, 2023 [3]. - The Qilu Bank's stock has risen by 16.83% this year, contributing to the bond's forced redemption, with at least four bank convertible bonds triggering mandatory redemptions this year [3][4]. - Other companies, such as Feilu Co. and Wenzhou Hongfeng, have also announced upcoming mandatory redemptions due to strong stock performance, with some stocks seeing increases of over 60% this year [4][5]. Group 3: Market Supply and Demand - The issuance of new convertible bonds has slowed, with fewer than 30 issued this year, leading to a significant decrease in the total supply of convertible bonds in the market [5][6]. - The demand for convertible bonds remains high due to institutional investors' rigid allocation needs and declining pure bond yields, creating a supply-demand imbalance [5][6]. - The Wind Convertible Bond Index has increased by 16.5% year-to-date, outperforming major stock indices, indicating a robust market for convertible bonds despite the declining supply [5][6]. Group 4: Investment Trends - The convertible bond market is experiencing a rotation similar to the stock market, with sectors like TMT and innovative pharmaceuticals showing high activity [6]. - Institutions are increasingly favoring convertible bonds in sectors with high growth potential, such as electronics, chemicals, and pharmaceuticals, as traditional bank bonds become scarcer [6]. - The scarcity of high-quality convertible bonds is pushing up their valuation levels, making investment in this space more challenging [6].

Core Viewpoint - The company announces the conditional redemption of its convertible bonds ("飞鹿转债") due to the stock price exceeding 130% of the conversion price for 15 consecutive trading days, urging bondholders to convert their bonds before the redemption date to avoid potential losses [2][7]. Group 1: Convertible Bond Details - The company issued a total of 177 million yuan in convertible bonds on June 5, 2020, with a face value of 100 yuan per bond, totaling 1,770,000 bonds [2]. - The initial conversion price was set at 9.9 yuan per share, which has been adjusted multiple times due to various corporate actions [4][5]. - The current conversion price is 6.08 yuan per share, effective from August 6, 2025 [6]. Group 2: Redemption Conditions and Procedures - The conditional redemption clause allows the company to redeem the bonds if the stock price remains above 130% of the conversion price for at least 15 trading days [7]. - The redemption price is set at 100.55 yuan per bond, which includes accrued interest [8]. - Bondholders must be registered with the China Securities Depository and Clearing Corporation by the redemption date of August 8, 2025, to receive the redemption payment [8]. Group 3: Investor Advisory - Bondholders are advised to convert their bonds before the redemption date to avoid being forced to redeem at a price lower than the market value [1][2]. - The company emphasizes the importance of monitoring the conversion deadline and the risks associated with not converting the bonds [1].

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 - The company has announced an adjustment to the conversion price of its convertible bonds, "Feilu Convertible Bonds," from 6.01 CNY/share to 6.08 CNY/share, effective from August 6, 2025 [1][7] - The initial conversion price of "Feilu Convertible Bonds" was set at 9.9 CNY/share, with subsequent adjustments made based on various corporate actions, including stock options and performance conditions [2][5] - The bond was issued on June 5, 2020, with a total value of 177 million CNY, and is set to be redeemed early on August 8, 2025, with the conversion period ending on August 11, 2025 [1][3] Group 2 - The adjustment of the conversion price is based on the completion of the stock option incentive plan, which resulted in an increase of 5.88 million shares in the company's total share capital [6][7] - The adjustment formula used for the conversion price is outlined in the company's prospectus, taking into account factors such as stock dividends, capital increases, and cash dividends [5][6] - The company has a total share capital of 205,207,109 shares as of August 1, 2025, which is used in the calculation for the new conversion price [7]

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]