Core Points - The company announced the interest payment schedule for its convertible bonds, with the payment date set for July 17, 2025 [1][4] - The total amount of convertible bonds issued is 101,600 million yuan, with a maturity period of six years from July 17, 2023, to July 16, 2029 [2][4] - The coupon rates for the bonds increase progressively from 0.30% in the first year to 2.00% in the sixth year [2][4] Convertible Bond Issuance Overview - The company issued 10,160,000 convertible bonds at a face value of 100 yuan each, approved by the China Securities Regulatory Commission [2][4] - The bonds are listed on the Shanghai Stock Exchange under the name "金宏转债" and code "118038" since August 10, 2023 [2][4] Conversion and Pricing - The initial conversion price for the bonds was set at 27.48 yuan per share, adjusted to 27.46 yuan after the issuance of new shares [2][3] - The conversion price was further adjusted to 26.97 yuan due to the company's annual equity distribution and subsequently to 19.07 yuan following a price correction clause activation [3][4] Interest Payment Details - The interest payment for the second year will cover the period from July 17, 2024, to July 16, 2025, with a coupon rate of 0.50% [4][5] - The interest amount per bond will be 0.50 yuan (before tax), resulting in a net payment of 0.40 yuan after tax deductions [7][4] Payment Schedule - The bondholders will be registered as of July 16, 2025, with interest payments made within five trading days after the payment date [5][6] - The company has appointed China Securities Depository and Clearing Corporation Limited Shanghai Branch to handle the interest payments [6][8]

| 证券代码：688106 | 证券简称：金宏气体 | 公告编号：2025-035 | | --- | --- | --- | | 转债代码：118038 | 转债简称：金宏转债 | | 金宏气体股份有限公司 关于"金宏转债"2025 年付息的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 金宏气体股份有限公司（以下简称"公司"）于 2023 年 7 月 17 日发行的可 转换公司债券将于 2025 年 7 月 17 日开始支付自 2024 年 7 月 17 日至 2025 年 7 月 16 日期间的利息。根据《金宏气体股份有限公司向不特定对象发行可转换公 司债券募集说明书》（以下简称"《募集说明书》"）有关条款的规定，现将有 关事项公告如下： 一、可转债发行上市概况 （一）可转债发行概况 根据中国证券监督管理委员会《关于同意金宏气体股份有限公司向不特定对 象发行可转换公司债券注册的批复》（证监许可〔2023〕1319 号），公司于 2023 年 7 月 17 日向不特定对象发行了可转换公司债券 10 ...

Core Points - The company has issued convertible bonds named "Jinhong Convertible Bonds" which can be converted into shares starting from January 21, 2024 [1][3] - As of June 30, 2025, a total of RMB 112,000 has been converted into 5,535 shares, representing 0.0011% of the total shares before conversion [1][6] - The remaining amount of unconverted convertible bonds is RMB 1,015,888,000, accounting for 99.9890% of the total issuance [1][6] Convertible Bond Issuance Overview - The company was approved to issue 10,160,000 convertible bonds at a face value of RMB 100 each, raising a total of RMB 1,016,000,000 [2] - After deducting issuance costs of RMB 11,840,377.36, the net proceeds amount to RMB 1,004,159,622.64 [2] - The bonds have a term of six years, from July 17, 2023, to July 16, 2029 [2] Conversion Price Adjustments - The initial conversion price was set at RMB 27.48 per share, which was adjusted to RMB 27.46 on April 30, 2024, and further adjusted to RMB 27.12 on May 23, 2024, due to annual equity distribution [3][4] - A significant downward adjustment occurred on October 16, 2024, reducing the conversion price to RMB 19.07 per share [5] - Following the 2024 annual equity distribution, the conversion price was adjusted to RMB 18.97 on May 16, 2025 [5] Share Capital Changes - As of June 30, 2025, the total number of shares increased from 481,977,391 to 481,977,496 due to the conversion of 105 shares [6] - The equity structure of the company remains unchanged, with no significant impact on shareholders' rights [6] Additional Information - For detailed information regarding the convertible bonds, investors are directed to the company's prospectus published on July 13, 2023 [7]

| 证券代码：688106 | 证券简称：金宏气体 | 公告编号：2025-034 | | --- | --- | --- | | 转债代码：118038 | 转债简称：金宏转债 | | 重要内容提示： 累计转股情况：金宏气体股份有限公司（以下简称"公司"）向不特定 对象发行可转换公司债券"金宏转债"自 2024 年 1 月 21 日（非交易日顺延至下 一交易日，即 2024 年 1 月 22 日）起可转换为公司股份。截至 2025 年 6 月 30 日， "金宏转债"累计有人民币 112,000.00 元已转换为公司股票，转股数量为 5,535 股，占"金宏转债"转股前公司已发行股份总额 486,943,142 股的 0.0011%。 未转股可转债情况：截至 2025 年 6 月 30 日，"金宏转债"尚未转股的 可转债金额为 1,015,888,000.00 元，占"金宏转债"发行总量的 99.9890%。 本季度转股情况：自 2025 年 3 月 31 日起至 2025 年 6 月 30 日，"金宏 转债"共有人民币 2,000.00 元已转换为公司股票，转股数量为 105 股，占"金宏 转债"转股前公 ...

Core Viewpoint - The Chinese electronic bulk gas industry is undergoing a critical transformation from technology catch-up to localized breakthroughs, with a continuously expanding market size and accelerated domestic substitution process. The market size of China's electronic bulk gas is expected to reach approximately 11.2 billion yuan in 2024, representing a year-on-year growth of 8.74% [1][16]. Industry Overview - The term "electronic gas" broadly refers to gases used in electronic industrial production, divided into electronic bulk gases and electronic specialty gases, which are crucial raw materials in semiconductor manufacturing [2]. - Electronic bulk gases include nitrogen, helium, oxygen, hydrogen, and carbon dioxide, with significant usage in semiconductor production processes [4][6]. Industry Development History - The development of China's electronic bulk gas industry has gone through four stages: 1. The budding stage (1950-1980) where reliance on imported equipment limited domestic production capabilities. 2. The initiation stage (1981-1999) marked by the entry of international gas giants bringing advanced technology. 3. The development stage (2000-2015) where domestic companies began to reduce reliance on imports and the demand for electronic bulk gases surged due to the growth of the semiconductor and photovoltaic industries. 4. The maturity stage (2016-present) where domestic companies have mastered ultra-pure gas purification technologies, meeting advanced process requirements [7][8]. Market Size - The electronic gas market in China is projected to reach approximately 20.3 billion yuan in 2024, with a year-on-year growth of 7.98%. The rapid expansion of the domestic semiconductor industry and continuous growth in photovoltaic installations are driving this demand [14][16]. Key Companies - **Guangzhou Guanggang Gas**: A leading domestic electronic bulk gas service provider, known for its "Super-N" series ultra-pure nitrogen production technology, achieving ppb-level purity [21]. - **Jinhong Gas**: Engaged in gas research, production, and sales, recognized as a national high-tech enterprise, with a focus on ultra-pure gases [23]. - **Linde Gas, Air Liquide, and Air Products**: Global industrial gas giants dominating over 70% of the high-end market share, leveraging technology barriers and long-term customer contracts [18][19]. Industry Development Trends 1. **Technological Innovation and Domestic Substitution**: The industry is experiencing dual drivers of technological innovation and domestic substitution, with companies increasing R&D investments to meet high purity and stability requirements [25]. 2. **Industry Chain Integration and Model Innovation**: Companies are integrating vertically and innovating business models, exploring on-site gas production and digital gas management systems to enhance competitiveness [26]. 3. **Diversified Market Demand and Global Layout**: The industry faces opportunities from diversified market demands and accelerated globalization, with companies expanding internationally to meet both domestic and foreign needs [27].

Group 1 - The core viewpoint of the news is that Nantu Asset Management has conducted research on Jin Hong Gas, highlighting its growth potential in the electronic gas market and its strategic focus on on-site gas production [1] - Jin Hong Gas is expected to achieve full-year revenue contributions from multiple electronic bulk gas projects in 2024, with new projects anticipated to commence operations by the end of 2025 [1] - The company emphasizes the development of on-site gas production due to its ability to provide stable cash flow, with new projects being launched annually in the small and medium-sized on-site gas sector [1] Group 2 - Jin Hong Gas has successfully passed tests and commenced mass production of ultra-pure ammonia and high-purity carbon dioxide products for TSMC [1] - The customer base for specialty gases is heavily weighted towards the integrated circuit industry, while the photovoltaic sector's customer share is declining [1] - The pricing of ultra-pure ammonia remains stable in the integrated circuit and LCD panel sectors, while prices in the photovoltaic sector are on a downward trend, indicating a cyclical bottom [1] Group 3 - The company is expanding its customer base by providing comprehensive gas solutions through a combination of self-production and trade, and has exported products to over 50 countries [1] - Jin Hong Gas has signed a project for on-site gas production in Thailand and acquired Singapore's CHEM-GS company [1] - The newly appointed General Manager, Dai Zhanglong, brings extensive industry experience, which is expected to help the company achieve new breakthroughs [1]

证券简称:金宏气体 债券简称:金宏转债 股票代码:688106 债券代码:118038 金宏气体股份有限公司 ( Jinhong Gas Co.,Ltd. ) 苏州市相城区黄埭镇潘阳工业园安民路 向不特定对象发行可转换公司债券 2025 年第一次临时受托管理事务报告 债券受托管理人 东吴证券股份有限公司 SOOCHOW SECURITIES CO.,LTD. 苏州工业园区星阳街 5 号 二〇二五年六月 重要声明 本报告依据《公司债券发行与交易管理办法》《金宏气体股份有限公司(作 为发行人）与东吴证券股份有限公司(作为受托管理人)关于金宏气体股份有 限公司向不特定对象发行可转换公司债券之债券受托管理协议》(以下简称 "《受托管理协议》")《金宏气体股份有限公司向不特定对象发行可转换公司 债券募集说明书》(以下简称"《募集说明书》")等相关规定,由本次债券受 托管理人东吴证券股份有限公司(以下简称"东吴证券")编制。东吴证券对本 报告中所包含的从上述文件中引述内容和信息未进行独立验证,也不就该等引 述内容和信息的真实性、准确性和完整性做出任何保证或承担任何责任。 本报告不构成对投资者进行或不进行某项行为的推荐意见 ...

证券简称:金宏气体 债券简称:金宏转债 苏州工业园区星阳街 5 号 二〇二五年六月 重要声明 本报告依据《公司债券发行与交易管理办法》《金宏气体股份有限公司(作 为发行人）与东吴证券股份有限公司(作为受托管理人)关于金宏气体股份有 限公司向不特定对象发行可转换公司债券之债券受托管理协议》(以下简称 "《受托管理协议》")《金宏气体股份有限公司向不特定对象发行可转换公司 债券募集说明书》(以下简称"《募集说明书》")等相关规定,由本次债券受 托管理人东吴证券股份有限公司(以下简称"东吴证券")编制。东吴证券对本 报告中所包含的从上述文件中引述内容和信息未进行独立验证,也不就该等引 述内容和信息的真实性、准确性和完整性做出任何保证或承担任何责任。 本报告不构成对投资者进行或不进行某项行为的推荐意见,投资者应对相 关事宜做出独立判断,而不应将本报告中的任何内容据以作为东吴证券所作的 承诺或声明。在任何情况下,投资者依据本报告所进行的任何作为或不作为, 东吴证券不承担任何责任。 股票代码:688106 债券代码:118038 金宏气体股份有限公司 ( Jinhong Gas Co.,Ltd. ) 苏州市相城区黄埭镇潘 ...

Core Points - The company has disclosed that its cumulative new borrowings for the year 2025 have exceeded 20% of its net assets as of the end of the previous year [1] - As of December 31, 2024, the company's audited net assets were 334,985.23 million, and the borrowing balance was 129,333.24 million [1] - As of May 31, 2025, the borrowing balance increased to 212,695.21 million, representing an increase of 83,361.97 million, which is 24.89% of the net assets as of the end of 2024 [1] Financial Data Overview - The company reported a net asset value of 334,985.23 million as of December 31, 2024, and a borrowing balance of 129,333.24 million [1] - The borrowing balance as of May 31, 2025, was 212,695.21 million, indicating a significant increase in borrowings [1] Types of New Borrowings - The company has added a total of 83,361.97 million in new bank borrowings as of May 31, 2025 [2] - There are no other types of borrowings reported [3] Impact on Debt Servicing Ability - The new borrowings are intended to meet the company's daily operational needs and fall within the scope of normal business activities [4] - The company's financial condition is stable, and all debts are being repaid on time, indicating that the new borrowings will not adversely affect its operational status or debt servicing ability [4] Additional Notes - The financial data provided is based on consolidated figures, with only the end-of-2024 data being audited [5]

截至 2024 年 12 月 31 日，公司经审计净资产为 334,985.23 万元，借款余额 为 129,333.24 万元。 截至 2025 年 5 月 31 日，公司借款余额为 212,695.21 万元，较 2024 年末增 加 83,361.97 万元，2025 年 1-5 月累计新增借款占公司 2024 年末净资产比例为 24.89%。 | 证券代码：688106 | 证券简称：金宏气体 | 公告编号：2025-033 | | --- | --- | --- | | 转债代码：118038 | 转债简称：金宏转债 | | 金宏气体股份有限公司 关于当年累计新增借款超过上年末净资产 20%的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 金宏气体股份有限公司（以下简称"公司"）根据《上海证券交易所上市公 司自律监管指引第 12 号——可转换公司债券》等相关规定，就公司 2025 年累计 新增借款情况予以披露。具体情况如下： 一、主要财务数据概况 二、新增借款的类型 1、银行借款：截至 2025 年 5 月 ...