上声电子发布可转债发行公告：关键细节与投资者须知

一、发行要点梳理

• 发行主体：苏州上声电子股份有限公司（688533）
• 证券简称：上 26 转债（代码：118067）
• 发行总额：32,485 万元人民币，合计 3,248,500 张（324,850 手），每张面值 100 元
• 发行价格：按面值 100 元/张发行
• 发行日期：2026 年 3 月 18 日（9:30-11:30, 13:00-15:00）
• 股权登记日：2026 年 3 月 17 日
• 原股东优先配售：配售代码 726533，配售比例每股配 0.001968 手可转债（即每股配 1.968 元面值可转债）
• 网上申购代码：718533，申购上限 1,000 手/账户
• 票面利率：第一年 0.20%、第二年 0.40%、第三年 0.80%、第四年 1.50%、第五年 2.00%、第六年 2.50%
• 转股起始日：2026 年 9 月 24 日（自发行结束满六个月后第一个交易日起至 2032 年 3 月 17 日）
• 初始转股价格：32.60 元/股
• 信用评级：公司主体及本次可转债均为 A+，评级展望稳定
• 主承销商：东吴证券股份有限公司

二、对股东及潜在投资者的重要影响

• 优先配售机会：所有在 2026 年 3 月 17 日收市后登记在册的股东均可按持股数优先配售可转债。配售比例为每持有 1 股可获配 0.001968 手可转债，即每 1,000 股配 1.968 手，具体以最终公告为准。优先配售不足 1 手部分按精确算法进位分配，确保公平。
• 资金安排：原股东参与优先配售时须全额缴款，未足额缴款视为自动放弃权利。若申购金额超过实际配售上限，则超出部分无效。
• 二级市场流动性：本次可转债上市首日即可交易，无锁定期，投资者可灵活买卖。
• 转股价格调整机制：如公司发生送股、转增、配股、现金分红等权益变动，将依公式调整转股价，保护投资者利益。公司股价若连续 30 日有 15 日低于转股价 85%，有权向下修正转股价，但修正需经股东大会通过。
• 赎回与回售条款：
  • 到期五日内公司可按 113%（含利息）赎回未转股部分。
  • 若转股期内公司股价连续 30 日有 15 日高于转股价 130%，或未转股余额不足 3,000 万元，公司可提前赎回。
  • 最后两年，若公司股价连续 30 日低于转股价 70%，持有人可回售。
  • 若募投项目重大变化，持有人有一次附加回售权。
• 包销与风险：本次包销比例上限为 30%。若最终认购金额不足 70%，公司有权中止发行并择机重启，投资者已中签但发行中止的将无法获得可转债。
• 投资适当性要求：投资者须签署《风险揭示书》，未签署不得申购。12 个月内累计 3 次中签未足额缴款者，6 个月内不得再申购新股、可转债等。
• 募集资金用途变更风险：如募投项目实施情况与承诺变化且被监管认定为用途变更，投资者可行使一次回售权，属于价格敏感事项。
• 信用评级下调风险：可转债评级为 A+，但如公司经营恶化，评级可能下调，影响市场定价与二级市场价格。
• 科创板投资适当性：不符合科创板股票投资者适当性管理要求者，虽可交易可转债，但无法将可转债转股，需关注相关风险。
• 所有转股股份来源：新增股份，稀释现有股东持股比例。

三、时间表与投资者操作指引

四、潜在影响与价格敏感事项

• 稀释效应：全部转股后，公司总股本将相应增加，现有股东持股比例摊薄。
• 转股价格调整、下修与赎回、回售机制：如公司股价波动显著，转股价向下修正或投资者大规模回售，可能影响公司股价与债券定价。
• 募集资金或用途调整：若公司募投项目执行偏离承诺，或资金用途变更被监管认定，投资者可回售，属重大利空。
• 包销比例过高风险：若市场认购冷淡，包销比例超 30%，发行可能中止，影响市场信心与公司声誉。
• 信用评级变化：公司财务和经营表现影响债券评级，评级下调将使可转债市场价格承压，投资者需关注评级动态公告。
• 投资者适当性新规：未签署风险揭示书者无法参与、频繁弃购者被禁申购，实际影响参与人数与配售结果。

五、路演及投资者沟通

公司将于 2026 年 3 月 17 日通过中国证券网举办网上路演，建议投资者关注，进一步了解公司经营、募投项目与本次可转债详细情况。

六、结语

上声电子本次可转债发行覆盖所有原股东与社会公众，具备价格调整、赎回、回售等多项条款，票面利率较低但具备转股弹性。若公司经营稳定、募投项目如期推进、转股价动态调整合理，将有助于公司中长期发展。投资者应密切关注公司经营、市场价格、转股价调整、相关公告及信用评级变化，理性参与。

免责声明

本文内容仅供参考，不构成任何投资建议。投资者据此操作，风险自担。请务必详细阅读《募集说明书》及相关公告，充分理解本次可转债发行的风险与条款。如有疑问，请咨询证券公司或专业人士。

English Version

SUSE Electronics Announces Convertible Bond Issue: Key Details & What Investors Must Know

1. Key Points of the Issue

• Issuer: Suzhou SuSound Electronics Co., Ltd. (688533)
• Bond Abbreviation: Su 26 Convertible Bond (Code: 118067)
• Total Issue Size: RMB 324.85 million, total 3,248,500 notes (324,850 lots), par value RMB 100 per note
• Issue Price: At par, RMB 100/note
• Issue Date: March 18, 2026 (9:30-11:30, 13:00-15:00)
• Record Date: March 17, 2026
• Shareholders’ Priority Allotment: Code 726533, allotment ratio 0.001968 lot per share (i.e., RMB 1.968 par value per share)
• Online Subscription Code: 718533, max subscription 1,000 lots/account
• Coupon Rates: Year 1: 0.20%, Year 2: 0.40%, Year 3: 0.80%, Year 4: 1.50%, Year 5: 2.00%, Year 6: 2.50%
• Convertible Period Start: September 24, 2026 (six months after issue close, until March 17, 2032)
• Initial Conversion Price: RMB 32.60/share
• Credit Rating: A+ for issuer and bond, stable outlook
• Lead Underwriter: Soochow Securities Co., Ltd.

2. Crucial Impacts for Shareholders & Investors

• Priority Allotment: All shareholders on record at close March 17, 2026 can subscribe based on holdings, at 0.001968 lot per share. Fractions less than 1 lot are rounded up by algorithm for fairness.
• Funding Requirements: Shareholders must pay in full for their priority allotment or they forfeit rights. Over-subscription above entitlement is invalid.
• Liquidity: Bonds are tradable from day one of listing, with no lock-up period.
• Conversion Price Adjustment: If the company issues stock dividends, rights issues, or cash dividends, the conversion price is adjusted by formula. If the stock price falls below 85% of the conversion price for 15 out of 30 trading days, the board can propose a downward revision, subject to shareholder approval.
• Redemption & Put Provisions:
  • At maturity, bonds may be redeemed at 113% of par (including final interest).
  • If, during the conversion period, the stock price is above 130% of conversion price for 15 out of 30 trading days or less than RMB 30 million remains unconverted, the company may redeem early.
  • In the last two years, if the stock price is below 70% of the conversion price for 30 days, holders may require repurchase.
  • If a major change in use of proceeds is recognized by regulators, investors get a one-time put option (major negative event).
• Underwriting & Risk: Underwriting cap is 30%. If total valid subscriptions are below 70%, the company may suspend the issue, and investors will not receive bonds even if allotted.
• Investor Eligibility: Must sign a risk disclosure. 3 failures to pay for allotments in 12 months leads to a 6-month ban on new subscriptions.
• Credit Rating Downgrade Risk: Current A+, but may be lowered if company performance deteriorates, impacting bond prices.
• STAR Market Suitability: Investors not meeting STAR Market suitability cannot convert bonds into shares, only trade bonds.
• All conversion shares are new shares: Dilution of existing shareholder equity.

3. Timeline & Investor Guide

4. Market Impact & Price Sensitive Matters

• Dilution: Full conversion will increase total shares outstanding, diluting existing shareholders.
• Conversion Price Adjustment, Revision, Redemption, Put Options: Large stock price movements may trigger downward conversion price revision or mass put-backs, impacting share and bond prices.
• Use of Proceeds Change: Deviation from stated use of funds, if recognized by regulators, triggers investor put right (major negative event).
• High Underwriting Risk: If demand is weak and underwriting exceeds 30%, issue may be suspended, hurting market confidence.
• Credit Rating Volatility: Company performance affects bond rating; downgrades will depress bond prices.
• Investor Qualification New Rules: Those not signing risk disclosure or frequent payment failures cannot participate, affecting demand and distribution outcome.

5. Roadshow & Investor Communication

The company will hold an online roadshow on March 17, 2026 via China Securities Journal website. Investors are encouraged to attend to learn more about company operations, project plans, and bond details.

6. Conclusion

This convertible bond issue by SuSound covers all shareholders and the public, with dynamic conversion price adjustment, redemption and put options, and relatively low coupon rates but conversion flexibility. If the company delivers on its business plan and project execution, and manages conversion price adjustment well, the issue will support long-term growth. Investors should closely watch company operations, market price, conversion price changes, official updates, and credit rating disclosures.

Disclaimer

This article is for information only and does not constitute investment advice. Investors act at their own risk. Please read the prospectus and official announcements thoroughly and ensure you fully understand the risks and terms of this convertible bond issue. Consult your broker or a professional advisor if in doubt.

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