永创智能关于“永02转债”转股价格调整及转股停复牌的详细公告

一、公告要点梳理

• 转股价格调整：因向特定对象发行股票，永创智能（603901）宣布将“永02转债”转股价格由9.69元/股上调至9.77元/股，调整自2026年4月14日生效。
• 转股停复牌安排：“永02转债”于2026年4月13日全天停止转股，4月14日恢复转股。
• 触发调整原因：公司于2026年1月向特定对象发行了26,572,187股A股，发行价格为11.29元/股，募集资金总额约3亿元人民币。
• 资金用途与到位情况：募集资金已于2026年1月23日全部到账，经中汇会计师事务所审验。

二、对投资者的影响与需关注事项

• 转股价格微调：此次转股价格调整幅度有限（由9.69元/股调整为9.77元/股），调整依据为公司增发新股，采用《募集说明书》规定的调整公式进行。
• 为何会调整：公司2026年1月实施定向增发，向特定对象发行股票，触发了可转债转股价格的调整机制。
• 投资者操作窗口：持有“永02转债”的投资者需注意，4月13日不能进行转股操作，4月14日起转股将恢复，但转股价格已调整。
• 对股本结构的影响：本次定向增发增加了公司股本，对公司稀释效应及后续盈利能力具有一定影响。
• 对可转债投资者：转股价格的微幅上调意味着转债转股门槛略有提升，理论上对转债的吸引力略有下降，但幅度较小。
• 对公司估值的影响：本次定向增发的价格（11.29元/股）高于目前转股价格，显示市场对公司股票的认可，但也需关注后续新增股份对每股收益的摊薄影响。
• 潜在影响：可转债价格、正股价格可能会受此消息波动，投资者需密切关注后续市场反应。

三、具体数据与调整公式

• 定增股份数：26,572,187股
• 定增价格：11.29元/股
• 定增前总股本：497,519,911股
• 增发新股比例：5.3409%
• 调整后转股价格：9.77元/股（四舍五入保留两位小数）
• 转股价格调整公式：P1 = (P0 + A×k)/(1 + k)
• 公式参数：P0为调整前转股价9.69元，A为增发价格11.29元，k为增发新股率0.053409

四、时间节点及操作提醒

• 转股停牌时间：2026年4月13日全天
• 转股复牌时间：2026年4月14日
• 调整生效时间：2026年4月14日

五、结语

总结来看，永创智能此次转股价格调整是由公司定向增发行为所致，相关可转债投资者及股东需关注调整后的转股价格，以及公司股本结构变化对整体估值的中长期影响。由于转股价格的调整直接关系到可转债的价值和转股操作窗口，短期内可能对相关证券价格产生波动，建议投资者及时关注公司公告和市场反应，合理安排投资策略。

免责声明：本文内容仅供参考，不构成任何投资建议。投资有风险，入市需谨慎。

English Version (for reference):

Yongchuang Intelligent: Details on Adjustment of “Yong 02 CB” Conversion Price and Suspension/Resumption Announcement

Key Highlights

• Conversion Price Adjustment: Due to a private placement, Yongchuang Intelligent (603901) will raise the conversion price of “Yong 02 Convertible Bond” from RMB 9.69/share to RMB 9.77/share, effective April 14, 2026.
• Conversion Suspension/Resumption: “Yong 02 CB” will suspend conversion for the entire day on April 13, 2026, and resume on April 14, 2026.
• Reason for Adjustment: In January 2026, the company issued 26,572,187 shares via private placement at RMB 11.29/share, raising approximately RMB 300 million.
• Fund Arrival: The funds were fully received by January 23, 2026, as verified by Zhonghui CPA firm.

Investor Impact & Key Points

• Small Conversion Price Adjustment: The conversion price adjustment is minor and dictated by bond terms due to the new share issuance.
• Trigger Mechanism: The equity increase via a private placement invoked the mandatory conversion price adjustment per the prospectus.
• Actionable Window: Bondholders must note the conversion blackout on April 13 and the new conversion price starting April 14.
• Effect on Share Capital: The private placement increases total shares, with potential dilutive impact on earnings per share moving forward.
• For Convertible Bond Investors: The slight increase in conversion price marginally raises the conversion threshold, possibly reducing the bond’s attractiveness, though the effect is small.
• Company Valuation: The placement price (RMB 11.29) is above the current conversion price, indicating market confidence, but dilution effects bear watching.
• Market Impact: Prices of both the CB and the underlying stock may fluctuate in response; investors should monitor closely.

Key Data & Adjustment Formula

• Placement Shares: 26,572,187
• Placement Price: RMB 11.29/share
• Pre-Placement Share Capital: 497,519,911
• New Share Ratio: 5.3409%
• Adjusted Conversion Price: RMB 9.77/share (rounded to 2 decimals)
• Formula: P1 = (P0 + A×k)/(1 + k), where P0 = 9.69, A = 11.29, k = 0.053409

Timeline & Reminders

• Conversion Suspension: April 13, 2026
• Conversion Resumption: April 14, 2026
• Adjustment Effective: April 14, 2026

Conclusion

In summary, Yongchuang Intelligent’s conversion price adjustment is triggered by its recent private placement. Bondholders and shareholders should pay attention to the new conversion price, the blackout window, and the potential dilution impact on the company’s financials. As this adjustment could affect both bond and share prices in the short term, investors are advised to follow company updates and market dynamics closely.

Disclaimer: This article is for reference only and does not constitute investment advice. Investing involves risks; please make decisions cautiously.

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