FilingReader Intelligence

Zhejiang Daily shareholder's convertible bonds enter conversion period

October 10, 2025 at 10:20 AM UTCBy FilingReader AI

Zhejiang Daily Digital Culture Group Co., Ltd. announced that its controlling shareholder, Zhejiang Daily Media Holding Group Co., Ltd., issued 1.4 bn yuan in privately offered exchangeable company bonds on April 15, 2025. These bonds have a three-year term and are backed by a portion of the A-shares held by Zhejiang Daily Media Holding Group.

As per the agreement, these bonds will enter their share conversion period on October 16, 2025, with the conversion window extending until April 14, 2028. The latest share conversion price has been set at 14.11 yuan per share. As of the announcement date, Zhejiang Daily Media Holding Group, including the pledged accounts for these bonds, holds 618,873,836 shares, representing 48.80% of the company's total shares.

Calculations indicate that even if all bondholders opt for conversion, Zhejiang Daily Media Holding Group will retain its status as the controlling shareholder. This scenario is not expected to alter the company's governance structure or have a significant impact on its ongoing operations. The company will monitor the conversion process and fulfill its information disclosure obligations.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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