江山欧派门业股份有限公司“江山转债”可选择回售第二次提示性公告详解
关键信息概览
- 回售价格：102.31元人民币/张（含当期应计利息，含税）
- 回售期：2026年5月14日至2026年5月20日
- 回售资金发放日：2026年5月25日
- 回售期间“江山转债”停止转股
- 本次回售不具有强制性，投资者可选择是否回售
- 重要风险提示：当前“江山转债”收盘价高于本次回售价格，选择回售可能导致经济损失
详细内容解读
江山欧派门业股份有限公司（简称“江山欧派”）发布公告，正式启动“江山转债”的有条件回售条款。此次回售权已生效，主要原因在于公司股票自2026年3月20日至2026年5月6日连续30个交易日内收盘价格低于当期转股价格的70%，且可转债已进入最后两个计息年度。
回售条款与回售价格计算
- 回售条款规定，在可转债最后两个计息年度内，只要公司股票在任意连续30个交易日内收盘价低于当期转股价70%，持有人即可按面值加应计利息向公司回售。
- 本次回售价格为102.31元/张，包含100元面值及自2025年6月11日至2026年5月14日（337天）的应计利息2.31元（第五年票面利率为2.5%）。
- 回售价格已包含当期应计利息，且为含税价格。
回售申报及流程
- 回售申报期为2026年5月14日至2026年5月20日。
- 投资者可通过上海证券交易所交易系统以“卖出”方式申报回售，申报一经确认后不可撤销。
- 回售资金将于2026年5月25日发放。
- 回售期间，江山转债将继续交易，但停止转股。
对投资者的影响及风险提示
- 本次回售为投资者自主选择行为，不具强制性。
- 当前“江山转债”市场价格高于回售价格（即高于102.31元/张），若投资者选择回售，可能会造成经济损失。
- 建议投资者根据自身情况和市场环境，审慎行使回售权。
- 回售期间若导致可转债流通面值低于3,000万元，回售期结束后公司将公告相关事项，三日后“江山转债”将停止交易。
重要提醒与联系方式
- 投资者需于规定申报期内完成回售操作，逾期未申报则本年度不可再行使回售权。
- 如有疑问可致电公司董秘办：0570-4729200。
- 相关回售结果及对公司的影响将在回售期结束后公告。
潜在影响及投资者关注点
此次可转债回售权启动，直接反映出公司股价近期持续低于转股价的70%，可能对市场情绪及公司估值带来压力，属于价格敏感信息，或对公司股价及投资者信心造成一定影响。投资者应密切关注后续回售结果及公司公告。
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。请结合自身实际情况及市场环境，谨慎决策。
Detailed English Version
Key Highlights
- Put-back Price: RMB 102.31 per bond (including accrued interest, pre-tax)
- Put-back Period: May 14, 2026 to May 20, 2026
- Payment Date: May 25, 2026
- Conversion will be suspended during the put-back period
- Put-back is optional for bondholders
- Risk Warning: Current market price of the bond exceeds the put-back price; exercising the put-back may result in losses
In-depth Details
Jiangshan Oupai Door Industry Co., Ltd. (“Jiangshan Oupai”) has announced the activation of the conditional put-back clause for its convertible bonds (“Jiangshan Convertible Bond” or “江山转债”). This was triggered as the company’s share price was below 70% of the current conversion price for 30 consecutive trading days between March 20, 2026 and May 6, 2026, and the bond has entered its final two interest-bearing years.
Put-back Clause & Price Calculation
- The clause allows bondholders, during the last two interest-bearing years, to sell all or part of their bonds back to the company at face value plus accrued interest, if the share price remains below 70% of the conversion price for 30 consecutive trading days.
- The put-back price is RMB 102.31 per bond, comprising RMB 100 face value and RMB 2.31 in accrued interest (calculated for 337 days at 2.5% coupon rate for the fifth year).
- The price is tax-inclusive and covers the relevant interest period.
Put-back Submission & Process
- Submission window: May 14 to May 20, 2026.
- Bondholders must submit their put-back applications via the Shanghai Stock Exchange trading system as a “sell” order; once confirmed, applications cannot be withdrawn.
- Payment for put-back will be made on May 25, 2026.
- During the put-back period, the bond remains tradable but conversion is suspended.
Impact on Investors & Risk Warning
- Put-back is voluntary and not mandatory.
- The current market price of the bond is higher than the put-back price; exercising the put option could result in a financial loss.
- Investors should evaluate their own positions and market conditions before making a decision.
- If the total outstanding principal falls below RMB 30 million due to put-back, trading will continue until three days after the company announces the result, after which the bond will be delisted.
Important Reminders & Contact
- Investors must act within the put-back period; missed submissions mean the right cannot be exercised again that year.
- For inquiries, contact the board secretary’s office at 0570-4729200.
- Results and impacts will be announced after the put-back period ends.
Potential Impact & Investor Concerns
The activation of the put-back right reflects the company’s share price persistently underperforming relative to the conversion price, which could negatively impact market sentiment and company valuation. This is price-sensitive information and may affect share price and investor confidence. Investors should closely monitor subsequent announcements.
Disclaimer
The content above is for informational purposes only and does not constitute investment advice. Investors are advised to make decisions based on their own circumstances and market conditions. All risks are borne by the investor.
