债券代码：127088 债券简称：赫达转债 证券代码：002810 证券简称：山东赫达 公告编号：2025-043 的公告 本公司及董事会全体成员保证信息披露的内容真实、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： 证券代码：002810 证券简称：山东赫达 债券代码：127088 债券简称：赫达转债 山东赫达集团股份有限公司 关于 2025 年第二季度可转换公司债券转股情况 转股价格：16.85 元/股 转股起始时间：2024 年 1 月 8 日至 2029 年 7 月 2 日 根据《深圳证券交易所股票上市规则》《深圳证券交易所上市公 司自律监管指引第 15 号——可转换公司债券》等有关规定，山东赫 达集团股份有限公司（以下简称"公司"）现将 2025 年第二季度可 转换公司债券转股及公司股份变动情况公告如下： 一、可转债发行上市概况 根据中国证券监督管理委员会《关于同意山东赫达集团股份有 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〕1099 号），公司于 2023 年 7 月 3 日公开发行了 600.00 万张 可转债，每张面值 100 元，发行总额 60, ...

Group 1 - The chemical sector experienced a collective rebound on July 1, with Hongbaoli leading the surge by hitting the daily limit up [1] - Other stocks such as Shandong Heda, Changqing Technology, and Baihehua also reached the daily limit up, indicating strong market interest in the sector [1] - Hongbaoli's trading volume reached 240 million yuan, with a turnover rate of 3.57%, highlighting its active trading status [1] Group 2 - The chemical industry is a fundamental sector of the national economy, with products widely used in construction, automotive, and electronics [2] - The performance of the chemical sector is closely linked to macroeconomic trends, reflecting the industry's sensitivity to economic conditions [2]

Core Viewpoint - The announcement details the interest payment for the convertible bonds issued by Shandong Heda Group Co., Ltd., specifying the interest rates, payment dates, and tax implications for bondholders [1][4][6]. Group 1: Bond Details - The convertible bonds, referred to as "Heda Convertible Bonds," have a face value of 1,000 yuan, with an interest payment of 5.00 yuan per 10 bonds (including tax) for the second year [1][4]. - The interest rates for the bonds are structured as follows: 1.00% for the third year, 1.50% for the fourth year, 2.00% for the fifth year, and 3.00% for the sixth year [1][4]. - The interest payment period for the current year is from July 3, 2024, to July 2, 2025, with the payment made within five trading days after the interest payment date [4][5]. Group 2: Tax Implications - Individual bondholders and securities investment funds will have a 20% tax rate deducted from their interest income, resulting in an actual payment of 4.00 yuan per 10 bonds [4][6]. - Qualified foreign institutional investors (QFII and RQFII) are exempt from corporate income tax and value-added tax, receiving the full interest amount of 5.00 yuan per 10 bonds [4][6]. - Other bondholders are responsible for paying their own interest income tax, as the company will not withhold taxes for them [4][6]. Group 3: Payment Process - The company will entrust China Securities Depository and Clearing Corporation Limited Shenzhen Branch to handle the interest payment process [5][6]. - The interest will be transferred to designated bank accounts, and the payment will be made through the settlement system to the respective payment points chosen by the bondholders [5][6].

债券代码：127088 债券简称：赫达转债 证券代码：002810 证券简称：山东赫达 公告编号：2025-041 山东赫达集团股份有限公司 关于可转换公司债券 2025 年付息的公告 本公司及董事会全体成员保证信息披露的内容真实、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： 1、"赫达转债"将于 2025 年 7 月 3 日按面值支付第二年利息， 每 10 张债券（面值 1,000 元）利息为 5.00 元（含税）； 2、债权登记日：2025 年 7 月 2 日（星期三）； 3、除息日：2025 年 7 月 3 日（星期四）； 4、付息日：2025 年 7 月 3 日（星期四）； 5、"赫达转债"票面利率为：第一年 0.20%，第二年 0.50%，第 三年 1.00%，第四年 1.50%，第五年 2.00%，第六年 3.00%。 6、"赫达转债"本次付息的债权登记日为 2025 年 7 月 2 日，凡 在 2025 年 7 月 2 日（含）前买入并持有本期债券的投资者享有本次 派发的利息。2025 年 7 月 2 日卖出本期债券的投资者不享有本次派 发的利息。在付息债权登记日前（包括付息债 ...

Core Viewpoint - Shandong Heda Group Co., Ltd. maintains a stable credit rating of AA- for both its corporate entity and its convertible bonds, indicating strong financial health and operational stability [1][4][5]. Company Overview - Shandong Heda primarily engages in the production of cellulose ether and plant capsules, maintaining certain technological and cost advantages [5][6]. - The company has been recognized as a "Little Giant" enterprise by the Ministry of Industry and Information Technology, reflecting its specialized and innovative capabilities [6][17]. Financial Performance - The revenue from cellulose ether has increased due to higher sales in pharmaceuticals, food, and industrial applications, while plant capsule revenue has also grown due to increased inventory for overseas sales [5][6]. - The gross margin for cellulose ether has decreased significantly, down 6.38 percentage points year-on-year to 19.13%, attributed to reduced demand in the domestic construction sector and intensified market competition [7][16]. - The gross margin for plant capsules has improved due to a decrease in fixed cost amortization following increased production [5][6]. Debt and Financial Health - As of the end of 2024, the company had total debts of 11.10 billion yuan, with a debt-to-capitalization ratio of 33.43%, indicating a light debt burden [7][9]. - The company’s short-term debt coverage is strong, with cash and cash equivalents significantly exceeding short-term liabilities [7][9]. - The overall financial risk remains low, with strong debt repayment capabilities supported by robust cash flow metrics [5][6]. Market and Industry Analysis - The cellulose ether market is expected to face continued competition, particularly in the construction sector, which is heavily influenced by the real estate market's performance [14][15]. - The global cellulose ether market is projected to grow from 5.229 billion USD in 2024 to 6.719 billion USD by 2031, indicating potential growth opportunities despite current competitive pressures [14][15]. - The company has established strong relationships with major clients in the construction and pharmaceutical sectors, enhancing its market position [17][18]. Regulatory and External Factors - The company is currently facing uncertainties due to the U.S. "double anti" investigation, which could significantly impact its plant capsule business in the U.S. market [5][6]. - The overall economic environment is characterized by a stable macroeconomic policy aimed at maintaining growth and supporting domestic demand, which may benefit the company in the long run [13][14].

Core Points - Shandong Heda Group Co., Ltd. has issued convertible bonds totaling 600,000 units with a face value of RMB 100 each, raising a total of RMB 60 million [3][14] - The bonds will be traded on the Shenzhen Stock Exchange under the name "Heda Convertible Bonds" starting from July 19, 2023 [3][4] - The initial conversion price for the bonds is set at RMB 17.40 per share, with specific conditions for adjustments based on stock performance [6][8] Section 1: Bond Overview - The bond issuance was approved by the company's board and shareholders in April and May 2022 [2] - The total amount raised after deducting issuance costs is RMB 59.275 million [3][14] - The bonds have a six-year term, with interest rates increasing from 0.20% in the first year to 3.00% in the sixth year [4][5] Section 2: Financial Performance - For the fiscal year ending December 31, 2024, the company reported total assets of RMB 4.146 billion, a 5.49% increase from the previous year [15] - The company's revenue for 2024 was RMB 1.956 billion, reflecting a 25.72% year-over-year growth [15] - The net profit attributable to shareholders decreased by 10.90% to RMB 193.495 million [15] Section 3: Fund Utilization - The funds raised will be used for the "Hershey Annual Production of 15 Billion Plant Capsules and Smart Warehouse Upgrade Project," with a total investment of RMB 1.227 billion [14] - The company has established a dedicated account for managing the raised funds, ensuring compliance with regulatory requirements [14][15] - As of December 31, 2024, the company had utilized RMB 454.304 million of the raised funds [15]

证券代码：002810 证券简称：山东赫达 债券代码：127088 债券简称：赫达转债 山东赫达集团股份有限公司 向不特定对象发行可转换公司债券 受托管理事务报告（2024 年度） 发行人：山东赫达集团股份有限公司 （山东省淄博市周村区赫达路 999 号） 受托管理人：招商证券股份有限公司 （广东省深圳市福田区福田街道福华一路 111 号） 2025 年 6 月 1 重要声明 依据《可转换公司债券管理办法》（以下简称"《管理办法》"）、《山东 赫达集团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》"）、《山东赫达集团股份有限公司（债券发行人）与招商 证券股份有限公司（债券受托管理人）关于山东赫达集团股份有限公司可转换公 司债券受托管理协议》（以下简称"《受托管理协议》"）等相关规定及约定， 招商证券股份有限公司（以下简称"招商证券"、"受托管理人"）作为本次债 券的受托管理人编制本报告。招商证券编制本报告的内容及信息均来源于公开信 息、山东赫达集团股份有限公司（以下简称"公司"、"发行人"、"山东赫达"） 对外发布的《山东赫达集团股份有限公司 2024 年年度报告》等公开信 ...

山东赫达集团股份有限公司 公开发行可转换公司债券 2025 年跟踪评级报告 www.lhratings.com 联合资信评估股份有限公司 评级总监： 二〇二五年六月二十四日 声 明 一、本报告是联合资信基于评级方法和评级程序得出的截至发表之日 的独立意见陈述，未受任何机构或个人影响。评级结论及相关分析为联合 资信基于相关信息和资料对评级对象所发表的前瞻性观点，而非对评级对 象的事实陈述或鉴证意见。联合资信有充分理由保证所出具的评级报告遵 循了真实、客观、公正的原则。鉴于信用评级工作特性及受客观条件影响， 本报告在资料信息获取、评级方法与模型、未来事项预测评估等方面存在 局限性。 1 联合〔2025〕5019 号 联合资信评估股份有限公司通过对山东赫达集团股份有限公司 主体及其相关债券的信用状况进行跟踪分析和评估，确定维持山东 赫达集团股份有限公司主体长期信用等级为 AA-，维持"赫达转债" 信用等级为 AA-，评级展望为稳定。 特此公告 二、本报告系联合资信接受山东赫达集团股份有限公司（以下简称 "该公司"）委托所出具，除因本次评级事项联合资信与该公司构成评级 委托关系外，联合资信、评级人员与该公司不存在任何 ...

关于回购公司股份进展的公告 证券代码：002810 证券简称：山东赫达 公告编号：2025-040 山东赫达集团股份有限公司 债券代码：127088 债券简称：赫达转债 本公司及董事会全体成员保证信息披露的内容真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 山东赫达集团股份有限公司（以下简称"公司"）于 2025 年 4 月 15 日召开第九届董事会第二十一次会议，审议通过了《关于回购公司 股份方案的议案》，同意公司使用自有资金以集中竞价交易方式回购 公司部分已发行的人民币普通股（A 股）股票，回购股份全部用于转 换上市公司发行的可转换为股票的公司债券。本次回购资金总额不低 于人民币 5,000 万元（含），不超过人民币 10,000 万元，回购价格不 超过人民币 18.00 元/股。本次回购股份的实施期限为自公司董事会 审议通过本次回购方案之日起 12 个月内。具体内容详见公司于 2025 年 4 月 16 日、2025 年 4 月 18 日在巨潮资讯网（www.cninfo.com.cn） 披露的《关于回购公司股份方案的公告》（公告编号：2025-013）、《回 购股份报告书》（公告编号：202 ...

Group 1 - Guangdong Province has initiated a centralized procurement program involving 170 drug varieties and 248 specifications, which may lead to lower drug prices and industry consolidation [1] - The procurement process eliminates A/B procurement orders and adopts group bidding [1] Group 2 - Shandong Heda's subsidiary has been preliminarily assessed with an anti-dumping tax rate of 172.24% by the U.S. Department of Commerce, affecting its exports to the U.S. market [2] - Other Chinese manufacturers/exporters face anti-dumping tax rates ranging from 5.4% to 88.82% [2] - The final ruling on the anti-dumping and countervailing investigation is expected to be released in October 2025, which may impact the company's market strategy [2] Group 3 - The Xinjiang Market Supervision Administration has published five typical cases of violations in the medical field, highlighting issues such as illegal charging and unlicensed drug sales [3] - The penalties imposed include fines for hospitals and pharmaceutical companies, indicating a strict regulatory environment aimed at ensuring compliance and protecting public interests [3]