盛航股份关于实施权益分派期间“盛航转债”暂停转股的公告
公告摘要与重点
- 盛航股份（证券代码：001205，债券代码：127099，债券简称：盛航转债）将于2026年5月14日至2025年年度权益分派股权登记日暂停“盛航转债”的转股。
- 预计恢复转股日期为2026年5月26日。
- 此次暂停转股主要因公司将实施2025年度权益分派（利润分配），依据相关规定，权益分派期间可转债需暂停转股。
- 暂停转股期间，“盛航转债”可正常交易。
- 转股价格将根据分配方案调整，详细公式已在公告附件公布。
详细解读
1. 债券基本情况
盛航股份于2023年12月6日发行了7,400,000张可转换公司债券（每张面值100元，募集资金总额74,000万元），债券期限为6年。盛航转债自2023年12月28日在深圳证券交易所挂牌交易，转股期限为2024年6月12日至2029年12月5日。
2. 暂停转股的原因与时间
公司于2026年5月8日召开2025年年度股东大会，审议通过了利润分配预案。根据深圳证券交易所相关业务办理指南，实施权益分派期间可转债需暂停转股。本次暂停转股时间为2026年5月14日至2025年年度权益分派股权登记日，预计恢复时间为2026年5月26日。
3. 转股价格调整机制
转股价格调整公式：
- 派送股票股利或转增股本：P1＝P0/(1＋n)
- 增发新股或配股：P1＝(P0＋A×k)/(1＋k)
- 上述两项同时进行：P1=(P0+A×k)/(1+n+k)
- 派送现金股利：P1＝P0-D
- 上述三项同时进行：P1＝(P0-D＋A×k)/(1＋n＋k)
- P0为调整前转股价，n为送股或转增股本率，k为增发新股或配股率，A为增发新股价或配股价，D为每股派送现金股利，P1为调整后转股价。
公司若发生股份回购、合并、分立等影响股本或股东权益的情形，将按照公平、公正、公允原则调整转股价格，并公告相关信息。
4. 对投资者和股东的影响
- 暂停转股期间，债券持有人无法将盛航转债转换为公司股票，因此若有转股计划需提前操作。
- 暂停期间债券可正常交易，不影响债券市场流动性。
- 本次权益分派后转股价格将调整，影响未来转股的成本与回报。
- 此次公告与权益分派、转股价格调整均属重大事项，可能对公司股价及债券价格产生影响，投资者需密切关注后续公告。
投资者须知及可能的价格敏感事项
本次暂停转股及权益分派将直接影响盛航转债的转股价格及公司股本结构，属于价格敏感事项。投资者需关注公司后续公告以及权益分派的具体方案、转股价格调整公式等细节，合理安排投资计划。
免责声明
本新闻稿仅为信息解读，不构成投资建议。投资者需结合自身情况及市场变化，审慎做出投资决策。如需详细信息，请查阅公司正式公告及相关文件。
English Version
Announcement on Suspension of “Shenghang Convertible Bonds” During Rights Distribution Period
Key Highlights
- Shenghang (Stock Code: 001205, Bond Code: 127099, Bond Name: Shenghang Convertible Bonds) will suspend conversion from May 14, 2026, until the record date for the 2025 annual rights distribution.
- Conversion is expected to resume on May 26, 2026.
- This suspension is triggered by the company’s plan to implement the 2025 annual rights distribution (profit allocation), per relevant regulations.
- During the suspension, the convertible bonds remain tradable.
- The conversion price will be adjusted according to the distribution plan, with detailed formulas provided in the announcement attachment.
Detailed Analysis
1. Bond Overview
Shenghang issued 7,400,000 convertible bonds (face value RMB 100 each, total raised RMB 740 million) on December 6, 2023. The bonds are valid for 6 years and listed on Shenzhen Stock Exchange from December 28, 2023. Conversion period is from June 12, 2024, to December 5, 2029.
2. Suspension Reason and Timeline
The company’s 2025 annual shareholders’ meeting (held May 8, 2026) approved the profit distribution plan. According to SZSE regulations, convertible bonds must suspend conversion during rights distribution. The suspension lasts from May 14, 2026, to the record date for the 2025 rights distribution, with conversion resuming May 26, 2026.
3. Conversion Price Adjustment Mechanism
Adjustment Formulas:
- Stock dividend or capital increase: P1＝P0/(1＋n)
- New share offering/rights issue: P1＝(P0＋A×k)/(1＋k)
- Both together: P1=(P0+A×k)/(1+n+k)
- Cash dividend: P1＝P0-D
- All three: P1＝(P0-D＋A×k)/(1＋n＋k)
- P0: pre-adjustment conversion price; n: bonus or capital increase rate; k: new share or rights issue rate; A: new share/rights issue price; D: cash dividend per share; P1: post-adjustment conversion price.
Should events like share repurchase, company merger, split, or other changes affecting equity occur, the company will adjust the conversion price fairly and announce details.
4. Impact on Investors and Shareholders
- During suspension, bondholders cannot convert Shenghang Convertible Bonds to shares; those planning to convert should act in advance.
- Bonds remain tradable, preserving liquidity.
- Conversion price will change after rights distribution, affecting future conversion costs and returns.
- The rights distribution and conversion price adjustment are material events that may affect share and bond prices; investors should monitor subsequent announcements closely.
Investor Notice & Price Sensitive Issues
This suspension and rights distribution directly impact conversion price and share structure—a price-sensitive matter. Investors are advised to follow the company’s subsequent announcements for specific distribution plan details and conversion price adjustment, and plan investment accordingly.
Disclaimer
This news article is for informational purposes only and does not constitute investment advice. Please consult official company announcements and documents for further detail and exercise caution in investment decision-making.
