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Reporter of China Business Network: Chen Pengli Editor of China Business Network: Song Sijian

On the evening of August 13, a related announcement of Blue Shield Debt Repayment (404001) confirmed that due to the company (Blue Shield Information Security Technology Co., Ltd.) falling into debt crisis and operational crisis, huge debts were overdue and unpaid, the company's main bank accounts and assets had been frozen/seized by the court, and there was a serious shortage of funds. The principal and interest of the "Blue Shield Debt Repayment" convertible bonds that should have been paid on August 13, 2024 could not be redeemed on time.

The announcement stated that since the company failed to pay the principal and interest of the "Blue Shield Debt Refund" convertible bonds on time, bondholders can protect their own rights and interests through relevant legal channels such as judicial procedures. The company will convene a bondholder meeting at an appropriate time in accordance with the "Blue Shield Information Security Technology Co., Ltd. Convertible Corporate Bondholder Meeting Rules". Bondholders are requested to pay attention to the relevant announcement.

A reporter from the Daily Economic News learned that "Blue Shield Debt Refund" will be the second convertible bond to experience substantial default after "Soute Debt Refund".

It is reported that Blue Shield Co., Ltd. issued 5.38 million convertible bonds on August 13, 2018, with a duration of 6 years, that is, the maturity date is August 13, 2024. The company should pay the principal of Blue Shield convertible bonds and the last year's interest on the maturity date. According to the issuance announcement of the convertible bonds, the coupon rate of Blue Shield convertible bonds is 0.4% in the first year, 0.6% in the second year, 1% in the third year, 1.5% in the fourth year, 1.8% in the fifth year, and 2% in the sixth year.

Blue Shield Debt Repayment will be listed for transfer on September 18, 2023 on the two-network companies and delisted companies section managed by the National Equities Exchange and Quotations.