Key Points - The company, Wenzhou Hongfeng Electrical Alloy Co., Ltd., issued convertible bonds totaling RMB 321.26 million, with a net amount of RMB 315.06 million after deducting issuance costs [1][9][10] - The bonds have a maturity of six years, with an annual interest rate that increases from 0.5% in the first year to 3.0% in the sixth year [1][3] - The initial conversion price for the bonds is set at RMB 6.92 per share, with provisions for adjustments based on various corporate actions [3][4][5] - The funds raised will be used for projects including the production of high-end precision hard alloy rods, with a total investment of RMB 359.03 million [9][12] - The company reported a net loss of RMB 73.67 million for 2024, a significant decline compared to the previous year's profit, attributed to high costs and ongoing project developments [10][11] - The company has established special accounts for the management of the raised funds, ensuring proper oversight and usage [11][12] - The credit rating for the bonds has been maintained at level A, with a stable outlook, as assessed by Zhongzheng Pengyuan Credit Rating Co., Ltd. [9][10]

Core Viewpoint - The credit rating of Wenzhou Hongfeng Electric Alloy Co., Ltd. has been downgraded to BBB+ due to ongoing losses in its lithium battery copper foil business, high costs, and increasing debt levels, despite stable performance in its core products [3][6][11]. Financial Performance - The company's total assets increased from 24.66 billion in 2022 to 34.17 billion in 2025, while total debt rose from 11.41 billion to 19.50 billion during the same period [3][6]. - The net profit for 2024 is projected to be a loss of 1.15 billion, continuing a trend of negative net profits into 2025 [6][11]. - Operating cash flow has been negative for three consecutive years, indicating ongoing liquidity issues [6][11]. Business Segments - The electric contact and functional composite materials segment is expected to generate revenues of 23.77 billion in 2024, with a year-on-year growth of 17.04% and a gross profit of 2.97 billion, reflecting a 35.03% increase [4][12]. - The lithium battery copper foil business remains in the trial production and expansion phase, with significant losses impacting overall profitability [6][11]. - The hard alloy segment is experiencing a slight recovery, with revenues expected to grow due to increased sales volume, although profit margins are under pressure from rising raw material costs [12][14]. Market Environment - The electric contact materials industry is heavily influenced by macroeconomic conditions and is characterized by high competition and reliance on raw material prices [8][10]. - The lithium battery copper foil market is facing structural imbalances, with total domestic production capacity estimated at 200-210 thousand tons per year, of which approximately 70% is for lithium batteries [11][12]. - The hard alloy industry is expected to see continued growth in sales volume, driven by high demand and a tight supply of tungsten, a key raw material [10][11]. Corporate Governance - The company's major shareholders remain unchanged, with a slight increase in their ownership to 43.09% as of March 2025 [6][7]. - Recent changes in the board include the appointment of new independent directors, indicating ongoing governance adjustments [7][8].

证券代码：300283 证券简称：温州宏丰 转债代码：123141 债券简称：宏丰转债 温州宏丰电工合金股份有限公司 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） 债券受托管理人 二〇二五年六月 1 重要声明 本报告依据《可转换公司债券管理办法》（以下简称"管理办法"）《温州 宏丰电工合金股份有限公司 2021 年可转换公司债券受托管理协议》（以下简称 "受托管理协议"）《温州宏丰电工合金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"）《温州宏丰电工合金股份有 限公司 2024 年年度报告》等相关公开信息披露文件、第三方中介机构出具的专 业意见等，由本期可转换公司债券受托管理人中德证券有限责任公司（以下简称 "中德证券"）编制。中德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中德证券所作的承诺 或声明。在任何情况下，投资者依据本报告所 ...

温州宏丰电工合金股份有限公司 相关债券 2025 年跟踪评级报告 中鹏信评【2025】跟踪第【792】号 01 信用评级报告声明 除因本次评级事项本评级机构与评级对象构成委托关系外，本评级机构及评级从业人员与评级对象不存 在任何足以影响评级行为独立、客观、公正的关联关系。 本评级机构与评级从业人员已履行尽职调查义务，有充分理由保证所出具的评级报告遵循了真实、客观、 公正原则，但不对评级对象及其相关方提供或已正式对外公布信息的合法性、真实性、准确性和完整性 作任何保证。 本评级机构依据内部信用评级标准和工作程序对评级结果作出独立判断，不受任何组织或个人的影响。 温州宏丰电工合金股份有限公司相关债券2025年跟踪评级报告 评级结果 本评级报告观点仅为本评级机构对评级对象信用状况的个体意见，不作为购买、出售、持有任何证券的 建议。本评级机构不对任何机构或个人因使用本评级报告及评级结果而导致的任何损失负责。 本次评级结果自本评级报告所注明日期起生效，有效期为被评证券的存续期。同时，本评级机构已对受 评对象的跟踪评级事项做出了明确安排，并有权在被评证券存续期间变更信用评级。本评级机构提醒报 告使用者应及时登陆本公司网站 ...

温州宏丰（300283）公告，控股子公司浙江宏丰铜箔有限公司于近日收到国家知识产权局颁发的1项实 用新型专利证书。专利名称为"一种生箔机边部抛光装置"，专利号为"ZL202422197490.0"，专利申请日 为2024年9月9日，授权公告日为2025年6月20日，授权公告号为"CN223000261U"。该专利的专利权期限 为十年，自申请日起算。上述专利的取得不会对公司短期业绩产生重大影响，但有利于发挥公司及子公 司自主知识产权优势，形成持续创新机制，提升公司及子公司核心竞争力。 一品红（300723）公告，全资子公司获得注射用唑来膦酸浓溶液注册证书。注射用唑来膦酸浓溶液是国 家医保乙类产品。公司获批的注射用唑来膦酸浓溶液是以化学药品4类申报注册，视同通过一致性评 价。 ...

温州宏丰电工合金股份有限公司（以下简称"公司"）控股子公司浙江宏丰 铜箔有限公司于近日收到由国家知识产权局颁发的 1 项实用新型专利证书，具体 情况如下： | 一种生箔机边部抛 | ZL202422197490.0 | 2024 9 日 | 年 | 月 | 9 | 2025 6 | 年 | 月 | 20 日 | CN 223000261 | U | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 专利名称 光装置 | 专利号 | 专利申请日 | | | | 授权公告日 | | | | 授权公告号 | | | 证券代码：300283 | 证券简称：温州宏丰 | 编号：2025-062 | | --- | --- | --- | | 债券代码：123141 | 债券简称：宏丰转债 | | 温州宏丰电工合金股份有限公司 注：上述实用新型专利的专利权期限为十年，自申请日起算。 关于子公司获得实用新型专利证书的公告 上述专利的取得不会对公司短期业绩产生重大影响，有利于发挥公司及子公 司自主知识产权优势，形成持续创新机 ...

公司于近日收到陈晓先生出具的《关于股份减持计划实施完成的告知函》， 截至本公告披露日，本次减持计划已全部实施完毕。现将有关情况公告如下： 一、股东减持情况 | 股东名称 | 减持方式 | 减持期间 | 减持均价 | 减持股数 | 减持比 | | --- | --- | --- | --- | --- | --- | | | | | （元/股） | （股） | 例 | | 陈晓 | 集中竞价 | 2025.06.11 | 5.85 | 4,369,668 | 0.9993% | | | 交易 | 至 | | | | | | | 2025.06.18 | | | | | 证券代码：300283 | 证券简称：温州宏丰 | 编号：2025-060 | | --- | --- | --- | | 债券代码：123141 | 债券简称：宏丰转债 | | 温州宏丰电工合金股份有限公司 关于公司股东减持计划实施完成的公告 公司控股股东、实际控制人陈晓先生保证向本公司提供的信息内容真实、 准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 温州宏丰电工合金股 ...

| 证券代码：300283 | 证券简称：温州宏丰 | 编号：2025-061 | | --- | --- | --- | | 债券代码：123141 | 债券简称：宏丰转债 | | 温州宏丰电工合金股份有限公司 关于完成工商变更登记并取得营业执照的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、基本情况 温州宏丰电工合金股份有限公司（以下简称"公司"）于 2025 年 5 月 9 日 召开了第五届董事会第三十五次（临时）会议，并于 2025 年 5 月 26 日召开了 2025 年第一次（临时）股东大会，审议通过《关于变更注册资本暨修订<公司章 程 > 并 办 理 工 商 变 更 登 记 的 议 案 》 。 具 体 内 容 详 见 公 司 在 巨 潮 资 讯 网 （www.cninfo.com.cn）披露的相关公告。 类型：其他股份有限公司（上市） 住所：浙江省乐清市北白象镇大桥工业区塘下片区 法定代表人：陈晓 注册资本：437,282,217 元 成立日期：1997 年 9 月 11 日 经营范围：贵金属合金材料（强电电触点、弱电微触点），电器配 ...

Core Viewpoint - Wenzhou Hongfeng has received a new utility model patent, enhancing its competitive edge in high-tech materials, particularly in the alloy materials sector, which is experiencing rapid growth due to emerging industries like new energy and 5G communication [1][2]. Group 1: Patent and Innovation - The company has obtained a total of four new utility model patents this year, with a focus on enhancing its independent intellectual property rights and fostering a continuous innovation mechanism [1]. - As of 2024, the company and its subsidiaries have accumulated 144 valid authorized patents, including 106 invention patents, showcasing its strong research and development capabilities [3]. Group 2: Business Performance - In 2024, the company's revenue from the electrical contact and functional composite materials segment reached 2.377 billion, a year-on-year increase of 17.04%, while the hard alloy segment saw a revenue of 319 million, up 58.24%, and the copper foil segment achieved 159 million, marking a 119.17% increase [3]. - The total revenue for the first quarter of 2025 reached 757 million, reflecting a year-on-year growth of 39.87% across all segments [3]. Group 3: Market Position and Strategy - The company has established itself as a key supplier in high-tech and high-value-added fields, including 5G communication and new energy vehicles, with its silver-copper composite materials being used in electric circuit protection systems for leading domestic electric vehicle manufacturers [2]. - The company plans to focus on its core business, emphasizing new technologies, products, and materials, while increasing R&D investment and talent acquisition to drive growth in the new materials industry [4].

| 证券代码：300283 | 证券简称：温州宏丰 | 编号：2025-058 | | --- | --- | --- | | 债券代码：123141 | 债券简称：宏丰转债 | | 温州宏丰电工合金股份有限公司 | 专利名称 | 专利号 | 专利申请日 | | | | 授权公告日 | | | | | 授权公告号 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 一种用于电解铜箔 的阳极槽屏蔽板 | ZL202421997956.9 | 2024 8 | 年 | 月 | 19 日 | 6 月 | 2025 | 年 | 6 | 日 | CN 222948493 U | 注：上述实用新型专利的专利权期限为十年，自申请日起算。 上述专利的取得不会对公司短期业绩产生重大影响，有利于发挥公司及子公 司自主知识产权优势，形成持续创新机制，提升公司及子公司核心竞争力。 特此公告。 温州宏丰电工合金股份有限公司 关于子公司获得实用新型专利证书的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载 ...