芜湖富春染织股份有限公司“富春转债”预计将满足赎回条件，投资者需密切关注

【要点概览】

• “富春转债”近期有望触发赎回条款，未来可能对股价、转债价格带来影响。
• 公司股票自2026年4月9日至2026年4月22日已有10个交易日收盘价高于转股价130%，如未来20个交易日再有5个交易日满足该条件，将正式触发赎回权。
• 一旦触发，公司董事会有权决定是否赎回全部或部分未转股的可转债，赎回价格为债券面值加当期应计利息。
• 投资者需关注后续公告，及时把握转股或赎回机会，避免因赎回条款触发带来的潜在损失。

详细内容

芜湖富春染织股份有限公司（以下简称“公司”）在2026年4月23日发布公告，提示其发行的“富春转债”（债券代码：111005）可能即将触发赎回条款。根据公告内容，公司股票自2026年4月9日至4月22日，已有10个交易日的收盘价格不低于当期转股价格11.98元/股的130%（即15.574元/股）。如果在接下来的20个交易日内，公司股票再有5个交易日的收盘价达到或超过这一标准，将触发可转债有条件赎回条款。

一旦赎回条款被触发，公司董事会有权决定是否按照债券面值加当期应计利息的价格赎回全部或部分未转股的“富春转债”。赎回条件的具体计算方式为：当公司股票在连续30个交易日中至少有15个交易日的收盘价不低于当期转股价的130%，或当未转股可转债余额低于3,000万元时，公司可行使赎回权。

转股价格调整历史：
“富春转债”自2022年12月29日起可转股。初始转股价格为23.19元/股，后因公司权益分派及董事会决议，已历经多次下调，目前为11.98元/股。每次调整均已在上海证券交易所公告披露，调整时间点分别为2022年12月26日、2023年5月23日、2024年5月23日及2025年6月26日。

对投资者的影响和需关注事项：

• 一旦公司行使赎回权，未及时转股的投资者将只能以债券面值加应计利息赎回，潜在转换溢价收益会消失。
• 赎回条款的触发通常会刺激投资者提前转股，因此可能带来短期内股价波动和可转债价格的大幅波动。
• 公司将按相关规定及时披露后续决议及安排，投资者需密切关注公司公告，合理选择投资策略。

基本发行信息回顾：
“富春转债”于2022年6月23日发行，总额57,000万元，期限6年，票面利率逐年递增，首年0.3%，第六年2.5%。2022年7月25日在上交所上市交易。

结论与风险提示

“富春转债”即将触发赎回条款一事极具价格敏感性，极有可能影响公司股价以及可转债市场表现。投资者应高度重视，及时关注公司后续公告，合理安排持仓，防范因赎回带来的投资风险。

免责声明： 本报道仅为信息披露和投资者教育之用，不构成任何投资建议。投资者应结合自身风险承受能力，谨慎决策，必要时请咨询专业投资顾问。公司公告、市场表现等可能因后续信息发布而发生变化，请以公司官方公告为准。

Wuhu Fuchun Dyeing and Weaving Co., Ltd.: “Fuchun Convertible Bonds” May Soon Trigger Redemption Clause – Investors Should Pay Close Attention

Key Points:

• The “Fuchun Convertible Bonds” are likely to trigger the redemption clause soon, which could potentially impact both the share price and the bond price.
• From April 9 to April 22, 2026, the company’s shares have closed above 130% of the current conversion price (11.98 yuan/share, i.e., 15.574 yuan/share) for 10 trading days. If there are another 5 trading days in the next 20 days meeting this criterion, the redemption right will be formally triggered.
• Once triggered, the board may decide to redeem all or part of the unconverted bonds at par value plus accrued interest.
• Investors should closely monitor subsequent announcements to make timely decisions on conversion or redemption to avoid potential losses from forced redemption.

Details

On April 23, 2026, Wuhu Fuchun Dyeing and Weaving Co., Ltd. (the “Company”) announced that its issued “Fuchun Convertible Bonds” (Bond Code: 111005) may soon trigger the redemption clause. From April 9 to April 22, 2026, there have already been 10 trading days where the closing price was not less than 130% of the current conversion price (11.98 yuan/share, i.e., 15.574 yuan/share). If in the next 20 consecutive trading days there are 5 more days with the closing price at or above this level, the conditional redemption clause will be triggered.

Once the redemption clause is triggered, the board of directors has the right to redeem all or part of the unconverted convertible bonds at par value plus accrued interest. The specific redemption condition is: if during the conversion period, in any 30 consecutive trading days there are at least 15 days with the closing price not lower than 130% of the then effective conversion price, or if the outstanding unconverted bonds fall below 30 million yuan, the company may exercise the redemption right.

Conversion Price Adjustment History:
The “Fuchun Convertible Bonds” became convertible from December 29, 2022. The initial conversion price was 23.19 yuan/share, and due to equity distributions and board resolutions, it has been lowered several times to the current 11.98 yuan/share. All adjustments were disclosed on the Shanghai Stock Exchange, with adjustment dates on December 26, 2022; May 23, 2023; May 23, 2024; and June 26, 2025.

Impact on Investors and Points to Watch:

• If the company exercises its redemption right, investors who do not convert in time can only redeem at par plus accrued interest, losing out on potential conversion premium gains.
• Triggering the redemption clause often encourages early conversion, potentially causing short-term volatility in both share and bond prices.
• The company will promptly disclose follow-up decisions and arrangements as required; investors should closely follow company announcements and plan their investment strategy accordingly.

Issuance Information Recap:
“Fuchun Convertible Bonds” were issued on June 23, 2022, totaling 570 million yuan, with a 6-year term and a gradually increasing coupon (first year 0.3%, sixth year 2.5%). They have been listed on the Shanghai Stock Exchange since July 25, 2022.

Conclusion and Risk Warning

The impending trigger of the redemption clause for “Fuchun Convertible Bonds” is highly price-sensitive and may significantly affect the company’s share price and the convertible bond market. Investors are strongly advised to pay close attention, monitor future announcements, manage their positions wisely, and guard against risks arising from redemption.

Disclaimer: This report is for information and investor education purposes only and does not constitute any investment advice. Investors should make prudent decisions based on their own risk tolerance and consult professional advisors when necessary. Company announcements and market performance may change due to subsequent disclosures. Please refer to the official company announcements for the latest information.

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