Kinwong Electronic opts not to redeem "Jing 23 convertible bonds"

Shenzhen Kinwong Electronic (SSE:603228) has announced its decision not to exercise its right to redeem the "Jing 23 Convertible Bonds" (景23转债) in advance. This decision comes despite the company's stock price triggering the conditional redemption clause, as the closing price had reached at least 130% of the current conversion price (RMB 24.71) for 15 out of 30 consecutive trading days (between January 20, 2025, and February 19, 2025). The company's board approved the resolution at its meeting on February 19, 2025. Kinwong also stated that it will not redeem the bonds early within the next six months, even if the trigger is met again. The company will reassess after August 19, 2025. These bonds, worth RMB 1,154.00 million, were issued on April 4, 2023 and listed on the Shanghai Stock Exchange on May 9, 2023, convertible into the company's A-shares since October 11, 2023. The decision reflects Kinwong’s confidence in its long-term prospects and a desire to protect all investors' interests.