爱玛科技公告：部分限制性股票回购注销完成，调整“爱玛转债”转股价格

主要内容摘要

• 转股价格调整：爱玛科技（证券代码：603529）因部分限制性股票回购注销，宣布“爱玛转债”（转债代码：113666）转股价格将由37.45元/股调整为37.49元/股，自2026年3月17日起生效。
• 转股暂停与恢复：“爱玛转债”自2026年3月16日全天停止转股，2026年3月17日恢复转股。
• 转股价格调整历程：自2023年发行以来，转股价格几次因权益分派、限制性股票回购注销等事项进行调整。
• 本次调整原因：2024年限制性股票激励计划部分限制性股票因离职或解除劳动关系失去激励资格后，公司已于2026年3月12日完成回购注销手续。

详细内容分析

爱玛科技集团股份有限公司于2023年2月23日发行2,000万张可转换公司债券（“爱玛转债”），每张面值100元，总额20亿元，2023年3月20日在上交所上市，转股期为2023年9月1日至2029年2月22日。初始转股价61.29元/股，历经多次调整，最近一次因2025年半年度权益分派于2025年9月11日调整为37.45元/股。

本次转股价格调整源于2024年度限制性股票激励计划部分激励对象因离职或解除劳动关系，股份回购注销。董事会于2025年12月30日审议通过相关议案，并将回购价格由11.15元/股调整为10.52元/股，涉及股份1,235,000股。2026年3月12日，公司在中国证券登记结算有限责任公司上海分公司完成回购注销手续。

根据《募集说明书》及证监会相关规定，公司回购注销限制性股票视同增发/配股调整，采用相关计算公式。调整过程如下：

调整前转股价：37.45元/股
调整后转股价：37.49元/股

计算细节：
P0=37.45元/股；A1=10.7928元/股；k1=-0.1365%；A2=10.52元/股；k2=-0.0056%
P1=（37.45+10.7928×（-0.1365%）+10.52×（-0.0056%））÷（1-0.1365%-0.0056%）≈37.49元/股

对投资者的影响及关注要点

• 投资者需关注转股价格变化：转股价格微幅上调，可能对可转债的转股吸引力略有影响，需关注公司后续激励计划、股本变动及分红政策对转股价格的进一步调整。
• 回购注销限制性股票反映公司治理：公司严格执行激励计划及回购注销机制，提升公司治理规范，有助于提升投资者信心。
• 密切关注公司公告：本次转股价格调整已完成相关司法及结算手续，投资者需关注2026年3月17日新转股价格的正式生效，以及可转债转股的暂停与恢复安排。

结论

本公告对“爱玛转债”持有人及公司股东具有重要信息披露意义。虽然本次转股价格调整幅度较小，但涉及公司激励计划回购注销、股本结构变动和转股价格机制，投资者应予以高度关注。这一变动反映公司对激励对象管理和资本运作的规范化，对于市场价格可能产生一定影响，尤其是可转债投资者短期内需关注流动性及转股操作窗口的变化。

免责声明：本文基于公开信息整理，仅供投资者参考，不构成任何投资建议。投资有风险，决策需谨慎，请投资者结合自身实际情况和专业意见作出判断。

Aima Technology Announcement: Completion of Partial Restricted Stock Buyback and Cancellation, Adjustment of “Aima Convertible Bond” Conversion Price

Key Points

• Conversion Price Adjustment: Due to partial buyback and cancellation of restricted shares, Aima Technology (Stock Code: 603529) announces an adjustment in the conversion price of “Aima Convertible Bond” (Bond Code: 113666) from RMB 37.45/share to RMB 37.49/share, effective March 17, 2026.
• Conversion Suspension and Resumption: Conversion of “Aima Convertible Bond” will be suspended for the entire day on March 16, 2026, and will resume on March 17, 2026.
• Conversion Price Adjustment History: Since its issuance in 2023, the conversion price has been adjusted multiple times due to dividend distributions and restricted share buybacks/cancellations.
• Reason for This Adjustment: As some incentive recipients under the 2024 restricted stock incentive plan left or terminated their labor relationship, the company completed the buyback and cancellation procedures on March 12, 2026.

Detailed Analysis

Aima Technology issued 20 million convertible bonds (“Aima Convertible Bond”) on February 23, 2023, with a par value of RMB 100 each, totaling RMB 2 billion. The bonds were listed on the Shanghai Stock Exchange on March 20, 2023. The conversion period is from September 1, 2023, to February 22, 2029. The initial conversion price was RMB 61.29/share, and has been adjusted several times, most recently to RMB 37.45/share on September 11, 2025, due to the 2025 interim dividend.

The current conversion price adjustment is due to the buyback and cancellation of part of the restricted shares granted under the 2024 incentive plan, as some incentive recipients lost their eligibility due to resignation or contract termination. The board approved the adjustment of the buyback price from RMB 11.15/share to RMB 10.52/share for 1,235,000 shares on December 30, 2025. The buyback and cancellation procedures were completed on March 12, 2026.

According to the prospectus and CSRC regulations, buyback and cancellation of restricted shares are treated as rights issues or new share issues for conversion price adjustment purposes. Calculation details are as follows:

Pre-adjustment conversion price: RMB 37.45/share
Post-adjustment conversion price: RMB 37.49/share

Details:
P0=37.45; A1=10.7928; k1=-0.1365%; A2=10.52; k2=-0.0056%
P1= (37.45 + 10.7928 × (-0.1365%) + 10.52 × (-0.0056%)) ÷ (1-0.1365%-0.0056%) ≈ 37.49

Implications for Investors

• Investors should note the conversion price change: While the adjustment is minor, it may slightly affect the attractiveness of converting the bond into shares. Pay attention to future changes in incentive plans, share capital structure, and dividend policies.
• Company governance reflected in buyback and cancellation: The strict enforcement of the incentive plan and share buyback/cancellation enhances corporate governance, which may boost investor confidence.
• Monitor company announcements: The conversion price adjustment has completed legal and settlement procedures. Investors should note the effective date (March 17, 2026) and conversion suspension/resumption arrangements.

Conclusion

This announcement is significant for both bondholders and shareholders. Despite the small magnitude of the conversion price adjustment, it involves regulation of the incentive plan, capital structure, and conversion price mechanism. Investors should pay close attention. The change may impact the market, especially for convertible bond holders, who should watch liquidity and operation windows in the short term.

Disclaimer: The above is compiled from public information and is for reference only. It does not constitute investment advice. Investment is risky. Please make decisions cautiously and consult professionals based on your own situation.

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