汇通建设集团股份有限公司 2025年度权益分派及“汇通转债”转股价格调整公告深度解读
公告要点梳理
- 公司证券代码：603176，证券简称：汇通集团
- 可转换公司债券代码：113665，简称：汇通转债
- 因实施2025年度权益分派，汇通转债将调整转股价格，并有相关停复牌安排
- 停牌时间：2026年6月12日至2026年6月15日，复牌日为2026年6月15日
- 调整前转股价格：6.29元/股，调整后转股价格：6.28元/股
- 调整后的转股价格自2026年6月15日（除息日）起生效
- “汇通转债”转股期为2023年6月21日至2028年12月14日，初始转股价为8.23元/股，现已调整为6.29元/股，本次调整后为6.28元/股
详细公告内容解读
一、可转债发行及交易情况
汇通建设集团股份有限公司于2022年12月15日发行了360万张可转换公司债券，每张面值100元，发行总额3.6亿元，债券期限为6年，至2028年12月14日到期。该债券于2023年1月11日正式在上海证券交易所挂牌交易，债券简称“汇通转债”，代码为113665。
“汇通转债”可转股期为2023年6月21日至2028年12月14日。初始转股价格为8.23元/股，经2025年10月11日公告向下修正后转股价格为6.29元/股。目前因权益分派再次调整为6.28元/股。
二、2025年度权益分派方案及影响
2026年5月18日，公司召开2025年度股东大会，审议通过了年度利润分配方案：以权益分派股权登记日登记的总股本为基数，向全体股东每10股派发现金红利0.15元（含税），不送红股，也不以公积金转增股本。此次分配方案不会导致股本变化，但会影响可转债转股价格。
利润分配具体内容已于上海证券交易所网站公告，实施后将直接影响“汇通转债”的转股价格。
三、转股价格调整机制及结果
根据《募集说明书》及相关法规，公司在分派现金红利时，需要按分派金额对转股价格进行调整。调整公式为：
- 派发现金股利：P = P0 – D
- 本次调整：P = 6.29元/股 – 0.015元/股 = 6.275元/股 ≈ 6.28元/股（四舍五入）
- 调整后的转股价格自2026年6月15日（除息日）起生效
此次调整虽幅度较小，但体现公司对债券持有人权益的保护，确保投资者利益不受现金红利分派影响。
四、停复牌安排与投资风险提示
“汇通转债”将于2026年6月12日至2026年6月15日因转股复牌进行停牌，2026年6月15日起恢复转股。投资者需注意停复牌期间交易风险及转股价格调整对投资决策的影响。
可能影响股价的敏感信息
- 本次权益分派方案虽仅为每10股派发0.15元现金红利，金额较小，但是公司持续现金分红政策的体现，可能增强投资者对公司经营稳定性的信心。
- 转股价格调整虽然微幅下调，但对于可转债持有人来说，转股成本略有降低，有利于转股积极性，可能对汇通集团股价形成正面推动。
- 债券停复牌及调整事项需投资者密切关注，避免因操作失误造成权益受损。
投资者需重点关注事项
- 2026年6月15日起，“汇通转债”转股价格将调整为6.28元/股。
- 2026年6月12日至6月15日“汇通转债”停牌，6月15日复牌。
- 本次分红仅为现金红利，不涉及送股或公积金转增，有利于公司现金流透明度。
免责声明
本文内容仅供投资者参考，不构成任何投资建议。投资者应根据自身风险承受能力和投资目标，充分了解公告内容及相关风险，谨慎决策。公司公告内容及相关信息若有变动，请以上交所及公司官方公告为准。
English Version
Detailed Analysis of Huitong Construction Group’s 2025 Dividend Distribution and Convertible Bond Conversion Price Adjustment Announcement
Key Points
- Stock code: 603176, Stock abbreviation: Huitong Group
- Convertible bond code: 113665, Bond abbreviation: Huitong Convertible Bond
- Due to the implementation of the 2025 dividend plan, Huitong Convertible Bond will have its conversion price adjusted, with related suspension and resumption of trading arrangements
- Suspension: June 12, 2026 to June 15, 2026; resumption date: June 15, 2026
- Conversion price before adjustment: 6.29 yuan/share; after adjustment: 6.28 yuan/share
- The new conversion price becomes effective from June 15, 2026 (ex-dividend date)
- Convertible bond conversion period: June 21, 2023 to December 14, 2028; initial price: 8.23 yuan/share; after previous adjustment: 6.29 yuan/share; after this adjustment: 6.28 yuan/share
Detailed Announcement Interpretation
1. Convertible Bond Issuance & Trading Overview
Huitong Construction Group issued 3.6 million convertible bonds on December 15, 2022, with a face value of 100 yuan each and a total issuance of 360 million yuan. The bond term is 6 years, maturing on December 14, 2028. The bond was listed on the Shanghai Stock Exchange on January 11, 2023, with bond code 113665 and abbreviation “Huitong Convertible Bond.”
The conversion period is from June 21, 2023 to December 14, 2028. The initial conversion price was 8.23 yuan/share, later adjusted to 6.29 yuan/share, and this time further adjusted to 6.28 yuan/share due to the dividend distribution.
2. 2025 Dividend Distribution Plan & Impact
On May 18, 2026, the company’s 2025 annual shareholders meeting approved the profit distribution plan: based on the total share capital registered on the dividend record date, all shareholders will receive a cash dividend of 0.15 yuan (including tax) for every 10 shares. No bonus shares or capital reserve transfers will be issued. This scheme does not change the share capital but affects the convertible bond conversion price.
The distribution plan was officially announced on the SSE website and will directly impact the conversion price of “Huitong Convertible Bond.”
3. Conversion Price Adjustment Mechanism & Result
According to the prospectus and relevant regulations, the company must adjust the conversion price when distributing cash dividends. The formula is:
- Cash dividend: P = P0 – D
- This adjustment: P = 6.29 yuan/share – 0.015 yuan/share = 6.275 yuan/share ≈ 6.28 yuan/share (rounded)
- The new conversion price takes effect from June 15, 2026 (ex-dividend date)
While the adjustment is minor, it protects the interests of bondholders and ensures their rights are not diluted by the cash dividend.
4. Suspension/Resumption & Risk Reminder
“Huitong Convertible Bond” will be suspended from June 12 to June 15, 2026 for conversion price adjustment, and resume trading on June 15, 2026. Investors should pay attention to the trading risk and the impact of the conversion price adjustment on their decisions.
Price-sensitive Information
- Although the cash dividend per 10 shares is only 0.15 yuan, it reflects the company’s ongoing dividends and may boost investor confidence in its stable operations.
- The slightly lower conversion price benefits bondholders, potentially increasing conversion enthusiasm and positively impacting Huitong Group’s share price.
- Investors should pay close attention to the suspension/resumption and adjustment details to avoid operational errors.
Important Matters for Investors
- From June 15, 2026, “Huitong Convertible Bond” conversion price is adjusted to 6.28 yuan/share.
- Suspension from June 12 to June 15, 2026; resumption on June 15, 2026.
- This dividend is only cash, without bonus shares or capital reserve transfer, aiding cash flow transparency.
Disclaimer
This article is for reference only and does not constitute investment advice. Investors should fully understand the announcement and associated risks based on their own risk tolerance and investment goals. If there are changes in the company’s official announcements, please refer to the Shanghai Stock Exchange and company’s official releases for the latest information.
