永冠新材“永22转债”提前赎回暨摘牌公告详解

一、公告要点概览

• 赎回登记日：2026年4月21日
• 赎回价格：101.1014元/张（含当期应计利息）
• 赎回款发放日：2026年4月22日
• 最后交易日：2026年4月16日
• 最后转股日：2026年4月21日
• 摘牌日：2026年4月22日起“永22转债”从上海证券交易所摘牌
• 转股价：16.50元/股
• 赎回价格与市场价差距：2026年4月3日收盘价为105.8320元/张，赎回价远低于市场价，若未及时转股或卖出，投资者将面临较大损失

二、赎回背景与触发机制

根据公告，永冠新材于2026年1月22日至3月12日期间，公司股票连续三十个交易日中有十五个交易日收盘价达到或超过当期转股价16.50元/股的130%（即21.45元/股），触发了“永22转债”有条件赎回条款。董事会已通过赎回决议，执行提前赎回机制，即对赎回登记日在册的所有未转股“永22转债”以面值加应计利息强制赎回。

三、赎回实施细节及流程

1. 赎回登记日：2026年4月21日收市后，登记在册的全部“永22转债”持有人都将被赎回。
2. 赎回价格构成：
   • 面值：100元/张
   • 当期应计利息：1.1014元/张（按2025年7月28日至2026年4月22日，268天，利率1.5%计算）
   • 合计赎回总价：101.1014元/张
3. 所得税说明：
   • 个人投资者：需缴纳20%的利息所得税，税后实际赎回金额为100.8811元/张
   • 机构投资者（居民企业）：自行缴纳企业所得税，实际派发为101.1014元/张（税前）
   • 合格境外机构投资者：税前派发101.1014元/张，2026-2027年暂免企业所得税和增值税（相关政策规定）
4. 资金发放：赎回资金将于2026年4月22日通过中登上海分公司系统发放，已指定交易的投资者可在券商营业部领取，未指定的暂由中登公司保管。
5. 赎回后果：赎回登记日后，所有未转股的“永22转债”将被冻结，停止交易和转股，强制赎回。2026年4月22日“永22转债”正式摘牌。

四、对投资者的重要提醒与风险提示

• 转股或卖出最后时限：最后交易日为2026年4月16日，最后转股日为2026年4月21日。请投资者务必在规定时间前完成操作，否则将面临强制赎回。
• 价格风险：当前二级市场价格高于赎回价，若未及时转股或卖出，投资者将蒙受损失。
• 质押/冻结风险：如所持“永22转债”处于质押或冻结状态，建议在停止交易日前解除，否则将无法转股且被强制赎回，造成损失。

五、对公司及股价的潜在影响

本次赎回行为将减少公司在外可转债余额，有助于优化资本结构，降低潜在稀释压力。由于转股价格高于当前实际股价，赎回后部分投资者可能选择转股，稀释效应有限。强制赎回价格远低于市场价，可能导致部分投资者提前转股或抛售，造成短期内市场波动。此外，赎回行为显示公司股价已连续15日高于转股价130%，反映了公司近期股价表现强劲，有望对投资者信心产生积极影响，但需要关注赎回期间市场流动性的变化。

六、联系方式

董秘办：
联系电话：021-59830677

免责声明

本文仅根据公司公告整理，不构成任何投资建议。投资者应根据自身实际情况及风险承受能力独立判断。公司公告及政策如有变动，请以官方最新公告为准。

English Translation

Detailed Analysis: Yongguan New Materials “Yong 22 Convertible Bond” Early Redemption and Delisting Announcement

1. Key Highlights of the Announcement

• Redemption Record Date: April 21, 2026
• Redemption Price: 101.1014 RMB/bond (including accrued interest)
• Payout Date: April 22, 2026
• Last Trading Day: April 16, 2026
• Last Conversion Day: April 21, 2026
• Delisting Date: From April 22, 2026, “Yong 22 Convertible Bond” will be delisted from SSE
• Conversion Price: 16.50 RMB/share
• Redemption vs. Market Price: The closing price on April 3, 2026, was 105.8320 RMB/bond, much higher than the redemption price. Investors not converting or selling in time may suffer significant losses.

2. Redemption Background and Trigger Mechanism

From January 22 to March 12, 2026, the company’s stock price closed at or above 130% of the current conversion price (21.45 RMB) on at least 15 out of 30 consecutive trading days, triggering the conditional redemption clause of “Yong 22 Convertible Bond”. The Board has approved the early redemption, i.e., all unconverted bonds registered on the record date will be forcibly redeemed at face value plus accrued interest.

3. Redemption Implementation Details and Process

1. Record Date: All “Yong 22 Convertible Bond” holders registered after market close on April 21, 2026, will be redeemed.
2. Redemption Price Breakdown:
   • Face Value: 100 RMB/bond
   • Accrued Interest: 1.1014 RMB/bond (for 268 days at 1.5% from July 28, 2025, to April 22, 2026)
   • Total Redemption Price: 101.1014 RMB/bond
3. Tax Instructions:
   • Individual Investors: 20% tax on interest income, net redemption is 100.8811 RMB/bond
   • Institutional Investors (Resident Enterprises): Responsible for their own tax, gross redemption is 101.1014 RMB/bond
   • Qualified Foreign Institutional Investors: Gross distribution 101.1014 RMB/bond, with tax exemptions for 2026-2027 under current policies
4. Payout: Funds will be distributed via China Securities Depository and Clearing Corporation Shanghai Branch on April 22, 2026. Investors with assigned trading accounts receive funds at their brokerage; others will need to complete assignment to receive funds.
5. Redemption Consequence: All unconverted bonds will be frozen after the record date, trading and conversion will cease, and forced redemption will occur. Delisting is on April 22, 2026.

4. Important Reminders and Risks for Investors

• Conversion/Sale Deadline: Last trading day is April 16, 2026, last conversion day is April 21, 2026. Investors must act before these dates to avoid forced redemption.
• Price Risk: The market price is higher than the redemption price. Failure to convert or sell in time will result in losses.
• Pledge/Freeze Risk: If bonds are pledged or frozen, investors must lift the restriction before trading stops, or face forced redemption and losses.

5. Potential Impact on the Company and Share Price

This redemption will reduce the company’s outstanding convertible bonds, optimizing capital structure and reducing potential dilution. Since the conversion price is higher than the current stock price, some investors may convert, but the dilution effect is limited. The forced redemption price is much lower than the market price, which may prompt some investors to convert or sell early, causing short-term market volatility. The redemption indicates that the company’s stock price has been strong, potentially boosting investor confidence, but liquidity changes during the redemption period should be monitored.

6. Contact Information

Board Secretary Office:
Phone: 021-59830677

Disclaimer

This article is based solely on the company’s official announcement and does not constitute investment advice. Investors should make independent judgments based on their own circumstances and risk tolerance. Please refer to the latest official disclosures for any updates or changes.

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