关于"北方转债"即将停止转股 暨赎回日前最后一个交易日的重要提示性公告 股票简称：北方国际 股票代码：000065 公告编号：2025-042 转债简称：北方转债 转债代码：127014 北方国际合作股份有限公司 关于"北方转债"即将停止转股暨赎回日前最后一个交易日的 重要提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 重要内容提示： 最后转股日：2025 年 4 月 3 日 2025 年 4 月 1 日至 2025 年 4 月 3 日收市前，持有"北方转债"的投资者仍 可进行转股。2025 年 4 月 3 日收市后，未实施转股的"北方转债"将停止转股。 剩余可转债将按照 100.90 元/张的价格强制赎回。截至 2025 年 4 月 2 日收市后， 距离"北方转债"赎回日（2025 年 4 月 7 日）仅剩 1 个交易日。 2、可转债赎回条件满足日：2025 年 3 月 6 日 3、可转债赎回登记日：2025 年 4 月 3 日 4、可转债赎回日：2025 年 4 月 7 日 5、可转债停止交易日：2025 年 4 月 1 日 6、可转债停止转股 ...

Group 1: Business Overview - The company has restructured its main business categories to include Engineering Construction and Services, Resource and Equipment Supply Chain, Power Operations, Industrial Manufacturing, and Others [1] - Engineering Construction focuses on international engineering, logistics services, and domestic projects, with a core emphasis on energy, resource, livelihood, and industrial engineering [1][2] - The Resource and Equipment Supply Chain includes coking coal resource acquisition and sales, heavy equipment exports, and logistics automation system integration services [2] Group 2: Market Risks and Opportunities - The international engineering sector is facing market risks due to changing owner demands and a shift towards digitalized construction projects, which presents both challenges and opportunities for the company [3] - The company aims to achieve digital transformation in response to market dynamics, leveraging its EPC project management experience and central enterprise resources [3] Group 3: Dividend Policy - The company announced a profit distribution plan for 2024, proposing a cash dividend of 1.49 CNY per 10 shares, totaling approximately 158.45 million CNY, which represents a 72% increase from the previous year [4][5] - The company emphasizes its commitment to shareholder returns while focusing on overseas investment as a key growth area [5] Group 4: Investor Relations - No significant undisclosed information leaks occurred during the investor relations activity [6]

Core Viewpoint - In 2024, the company, North International (000065.SZ), demonstrated robust growth through market expansion, project operation enhancement, and transformation upgrades amidst a complex international environment [1][2]. Financial Performance - For the year 2024, North International reported a revenue of 19.08 billion yuan and a net profit of 1.05 billion yuan, reflecting a year-on-year increase of 14.23% [2] - The company's non-recurring net profit reached 1.055 billion yuan, marking a 16.43% increase compared to the previous year [2] - The company plans to distribute a cash dividend of 1.49 yuan per 10 shares, totaling approximately 158 million yuan [2] Market Expansion and Project Development - In 2024, North International signed significant contracts, including projects in Mongolia, Indonesia, Croatia, Ethiopia, and Bangladesh, reinforcing its position in resource development and clean energy [3] - The company achieved notable progress in various operational projects, including the Mongolia integrated mining project and the Croatia wind power project, enhancing project quality and efficiency [3][5] Strategic Initiatives - The company successfully advanced the 125MW solar investment project in Bosnia, utilizing the BOO model, which is expected to significantly contribute to its renewable energy investment and transformation strategy [4] - North International is committed to enhancing its core capabilities and competitiveness by focusing on the "Belt and Road" initiative and green, low-carbon development opportunities [6] Ongoing Projects and Subsidiary Performance - The company is steadily executing ongoing projects, adhering to strict management principles to enhance professional capabilities and maintain its competitive edge [5] - Subsidiaries are actively exploring growth potential, with overall revenue and profit showing an upward trend, particularly in heavy equipment exports and logistics automation [5][6]

Core Viewpoint - The announcement highlights the implementation of the redemption of "Beifang Convertible Bonds" and the upcoming cessation of conversion rights, urging bondholders to convert their bonds before the deadline to avoid potential losses [1][2]. Group 1: Redemption Details - The last conversion date for "Beifang Convertible Bonds" is April 3, 2025, after which unconverted bonds will be redeemed at a price of 100.90 CNY per bond [1][8]. - The redemption was triggered as the stock price closed at or above 130% of the conversion price for 15 trading days from February 13, 2025, to March 6, 2025 [2][6]. - The bond was issued on October 24, 2019, with a total of 5.7821 million bonds at a face value of 100 CNY each, and the initial conversion price was set at 8.84 CNY per share [2][3]. Group 2: Conversion and Redemption Procedures - Bondholders must convert their bonds through the securities company that holds their bonds, with a minimum conversion unit of 1 bond [9][10]. - The redemption price includes accrued interest calculated based on a 2.00% annual interest rate, resulting in a total redemption price of 100.90 CNY per bond [8][9]. - After the redemption, "Beifang Convertible Bonds" will be delisted from the Shenzhen Stock Exchange [9][11]. Group 3: Historical Context and Conditions - The bond has undergone several adjustments to its conversion price, with the current conversion price being 7.65 CNY per share [4][5]. - The company has previously decided not to exercise its redemption rights under certain conditions, but the current market conditions have led to the decision to redeem the bonds [6][7].

Group 1 - The company has decided to exercise its early redemption rights for the "Beifang Convertible Bonds," which will be forcibly redeemed if not converted by the close of trading on April 3, 2025 [1] - The company issued a total of 5.7821 million convertible bonds at a face value of 100 yuan each, amounting to a total issuance of 578.21 million yuan, which began trading on November 21, 2019 [1][2] - The conversion price of the "Beifang Convertible Bonds" has been adjusted multiple times, with the latest adjustment on June 21, 2024, reducing the price to 7.65 yuan per share [2][3] Group 2 - As of March 31, 2025, the total number of shares with limited sale conditions was 96,423,586, accounting for 9.41% of the total shares, while the total number of shares with unlimited sale conditions was 928,557,310, accounting for 90.59% [3] - The company has seen an increase of 44,826,026 shares in the unlimited sale condition category during the reporting period [3]

Core Insights - The company achieved a revenue of 19.08 billion, a year-on-year decrease of 11.21%, while the net profit attributable to shareholders was 1.05 billion, an increase of 14.32% [1] - The Bangladesh coal-fired power project is expected to start contributing operational revenue in 2025, with an estimated annual power generation of 8.58 billion kWh and projected revenue of approximately 4.3 billion from power sales [1] - The company maintains a "buy" rating despite the current coal price pressures, with projected net profits for 2025-2027 at 1.12 billion, 1.24 billion, and 1.4 billion respectively [1] Revenue Breakdown - Revenue from engineering construction and services, resource equipment supply chain, power operation, and industrial manufacturing for 2024 was 8.36 billion, 8.97 billion, 440 million, and 1.24 billion respectively, showing declines of 7%, 16.9%, and 18.1% [2] - The gross profit margins for these segments were 3.6%, 2.6%, -9.7%, and 0.1% year-on-year [2] - The company has active project contracts worth 6.39 billion USD (approximately 45.96 billion), which is 2.4 times the current revenue [2] Profitability and Cash Flow - The overall gross margin for 2024 was 12.82%, an increase of 2.5 percentage points, with a quarterly gross margin of 16.01% in Q4, up by 5.26 percentage points [3] - The company’s net profit margin for 2024 was 5.38%, an increase of 0.94 percentage points [3] - Cash flow from operations (CFO) was 653 million, with a cash collection to payment ratio of 100.66% and 104.61% for the year, reflecting increases of 6.53 percentage points and 7.18 percentage points respectively [3]

北方国际合作股份有限公司 关于"北方转债"赎回实施暨即将停止转股的重要提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 关于"北方转债"赎回实施暨即将停止转股的重要提示性公告 股票简称：北方国际 股票代码：000065 公告编号：2025-040 转债简称：北方转债 转债代码：127014 重要内容提示： 最后转股日：2025 年 4 月 3 日 2025 年 4 月 1 日至 2025 年 4 月 3 日收市前，持有"北方转债"的投资者仍 可进行转股。2025 年 4 月 3 日收市后，未实施转股的"北方转债"将停止转股。 剩余可转债将按照 100.90 元/张的价格强制赎回。 风险提示 因目前"北方转债"二级市场价格与赎回价格存在较大差异，特别提醒各位 持有人注意在限期内转股，如未及时转股，可能面临损失。敬请投资者注意投资 风险。 特别提示： 1、可转债赎回价格：100.90 元/张（含当期息税，当期年利率为 2.00%），扣 税后的赎回价格以中国证券登记结算有限责任公司深圳分公司（以下简称"中国 结算"）核准的价格为准。 2、可转债赎回条件满足 ...

2025 年第一季度可转债转股情况公告 证券简称：北方国际 证券代码：000065 公告编码：2025-041 转债简称：北方转债 转债代码：127014 北方国际合作股份有限公司 2025 年第一季度可转债转股情况公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 公司董事会于 2025 年 3 月 6 日召开九届七次董事会审议通过了《关于提前 赎回"北方转债"的议案》，董事会同意公司行使"北方转债"的提前赎回权， 截至 2025 年 4 月 3 日（可转债赎回登记日）收市后仍未转股的"北方转债"，将 被强制赎回。 根据《深圳证券交易所股票上市规则》、《深圳证券交易所可转换公司债券业 务实施细则》的有关规定，北方国际合作股份有限公司（以下简称"公司"或"北 方国际"）现将 2025 年第一季度可转换公司债券转股及公司股份变动情况公告如 下： 一、可转债发行上市基本情况 经中国证券监督管理委员会《关于核准北方国际合作股份有限公司公开发行 可转换公司债券的批复》（证监许可【2019】1444 号）核准，公司于 2019 年 10 月 24 日公开发 ...

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [6]. Core Views - The company is expected to continue its profit growth in 2024, with the Bangladesh project entering its operational phase in 2025, driving sustained revenue growth [1]. - In 2024, the company achieved a revenue of 19.08 billion, a year-on-year decrease of 11.21%, while the net profit attributable to the parent company was 1.05 billion, an increase of 14.32% year-on-year [1]. - The company has a strong order backlog, with contracts worth 63.9 billion USD (approximately 459.6 billion CNY) currently in execution, which is about 2.4 times the revenue for the period [2]. - The company’s comprehensive gross margin improved to 12.82% in 2024, up by 2.5 percentage points year-on-year, indicating enhanced profitability [3]. Financial Performance Summary - In 2024, the company reported a revenue of 190.8 billion CNY, with a net profit of 10.5 billion CNY, reflecting a 14.32% increase year-on-year [1]. - The company’s EBITDA for 2024 is projected at 1,964.89 million CNY, with a net profit attributable to the parent company expected to be 1,049.51 million CNY in 2024 [5]. - The company’s cash flow from operations (CFO) for 2024 is 653.35 million CNY, with a cash flow ratio of 104.61%, indicating improved cash management [3]. Business Segment Performance - Revenue from engineering construction and services, resource equipment supply chain, power operation, and industrial manufacturing in 2024 was 83.6 billion, 89.7 billion, 4.4 billion, and 12.4 billion CNY respectively, with notable declines in the first three segments [2]. - The Mongolian integrated mining project saw a 17.6% increase in mining volume, while coal sales decreased by 3.6% year-on-year [2]. - The Croatian wind power project generated 385 million kWh in 2024, a decrease of 16.3% year-on-year, primarily due to adverse weather conditions [2].

北方国际（缅甸）有限公司 子公司 其他应收款 北方国际合作股份有限公司 2024 年度 非经营性资金占用及其他关联资金往来情况汇总表 万元 上市公司核算 2024 年度占用资 2024 年度偿还 非经营性资金占用 资金占用方名称 占用方与上市公司的关联关系 占用资金余 计发生金额（不 含 占用资金余 占用形成原因 占用性质 的会计科目 金的利息(如有) 累计发生金额 额 利息） 额 控股股东、实际控制 人及其附属企业 小计 - - - - 前控股股东、实际控 制人及其附属企业 小计 - - - - 其 他 关 联方 及 其附 属企业 小计 总计 - - - - - 往来性 质 上市公司核算 2024 年度往来资 2024 年度偿 还 （经营性往 其他关联资金往来 资金往来方名称 往来方与上市公司的关联关系 往来资金余 发生金额（不含 利 往来资金余 往来形成原因 的会计科目 金的利息(如有) 累计发生金 额 来、非经营性 额 息） 额 往来） 销售商品、提供劳 中国北方工业有限公司所属企业合计 同受中国北方工业有限公司控制 应收账款 42,233.21 93,655.07 116,346.52 19,541. ...