WTJX(830839) 中国经济网·2025-03-13 02:12Core Viewpoint - The company, Wantong Hydraulic, plans to issue convertible bonds to specific investors, including Pangu Intelligent, to raise funds for enhancing liquidity and supporting business growth [1][4]. Group 1: Convertible Bond Issuance - The convertible bonds will be issued to specific investors, including Pangu Intelligent, with a minimum subscription amount of 120 million yuan [1][4]. - The total number of convertible bonds to be issued will not exceed 1.5 million, with each bond having a face value of 100 yuan [2][9]. - The bonds will have a term of six years, and the interest rate will be determined through a bidding process [2][9]. Group 2: Financial Details - The expected total amount raised from the bond issuance is up to 150 million yuan, which will be used entirely to supplement working capital after deducting issuance costs [3][9]. - The initial conversion price of the bonds will be based on the average stock price over the previous twenty trading days and will not be lower than 120% of the last trading day's average price [3][9]. - The company does not provide bond ratings or guarantees for this issuance [3][9]. Group 3: Strategic Partnership - Pangu Intelligent is a well-known manufacturer of centralized lubrication and hydraulic systems, and the collaboration is expected to enhance Wantong Hydraulic's competitiveness in the hydraulic sector [4][10]. - The partnership aims to leverage high-end hydraulic cylinder products developed by Wantong Hydraulic to support Pangu Intelligent's hydraulic systems in the wind power sector [4][11]. - This collaboration is anticipated to foster mutual support in hydraulic products, downstream markets, and technical processes, promoting long-term healthy development for Wantong Hydraulic [4][11]. Group 4: Historical Context - Wantong Hydraulic was listed on the Beijing Stock Exchange on November 9, 2020, with an initial issuance of 14 million shares at a price of 8.00 yuan per share [4][11]. - The total amount raised from the initial public offering was 112 million yuan, with net proceeds of approximately 100.96 million yuan after expenses [4][11]. - The company has previously engaged in additional share issuance, raising a total of 128.8 million yuan from two rounds of funding [6][12]. Group 5: Recent Financial Performance - In 2024, Wantong Hydraulic reported a revenue of 629 million yuan, a decrease of 5.99% year-on-year, while net profit attributable to shareholders increased by 37.02% to 109 million yuan [6][12]. - The net profit after excluding non-recurring gains and losses was 101 million yuan, reflecting a growth of 35.11% year-on-year [6][12]. - The net cash flow from operating activities reached 122 million yuan, showing an increase of 84.85% compared to the previous year [6][12].