Announcement of Severe Abnormal Fluctuation in Trading of Convertible Bonds of Hongda Xingye Co., Ltd.
The company and all members of the board guarantee that the content of this information disclosure is true, accurate, and complete, without false records, misleading statements, or significant omissions.
I. Basic Information on the Issuance and Listing of Convertible Bonds
According to the approval document "Zheng Jian Xu Ke [2019] No. 2305" from the China Securities Regulatory Commission, the company publicly issued 24,267,800 convertible bonds on December 16, 2019, with a face value of 100 yuan each, totaling 2,426,780,000 yuan, with a term of 6 years, from December 16, 2019, to December 16, 2025. The convertible bonds were approved for listing on the Shenzhen Stock Exchange under document "Shen Zheng Shang [2019] No. 866" and began trading on January 8, 2020, under the name "Hongda Convertible Bonds" and code "128085." The coupon rates for the bonds are: Year 1: 0.4%, Year 2: 0.6%, Year 3: 1.0%, Year 4: 1.8%, Year 5: 3.0%, Year 6: 5.0%. According to relevant regulations and the "Prospectus for the Public Issuance of Convertible Bonds by Hongda Xingye Co., Ltd." (hereinafter referred to as "the Prospectus"), the "Hongda Convertible Bonds" can be converted into company shares starting from June 22, 2020, with an initial conversion price of 3.98 yuan/share, and the current effective conversion price is 3.91 yuan/share.
II. Introduction to the Severe Abnormal Fluctuation in Trading of Convertible Bonds
The trading price of Hongda Xingye's convertible bonds has deviated significantly, with a cumulative closing price drop exceeding 50% over six consecutive trading days (from January 5, 2024, to January 12, 2024). According to the relevant provisions of the "Implementation Rules for Trading Convertible Bonds on the Shenzhen Stock Exchange," this constitutes a severe abnormal fluctuation in trading.