CHERVON-AUTO(SH:603982) Zheng Quan Zhi Xing·2025-05-27 09:25Group 1 - The report is prepared by China International Capital Corporation as the trustee manager for the convertible bonds issued by Nanjing Quanfeng Automotive Precision Technology Co., Ltd. [1][2] - The company issued convertible bonds amounting to RMB 620 million, with a maturity of 6 years starting from September 14, 2021 [2][3]. - The bonds have a tiered interest rate structure, starting from 0.4% in the first year and increasing to 3.0% in the sixth year [3][4]. Group 2 - The bonds are convertible into the company's A-share common stock, with an initial conversion price of RMB 23.03 per share, currently at RMB 7.89 per share [5]. - The company has provided a guarantee for its wholly-owned subsidiary, with a maximum principal amount of RMB 100 million, to support its operational needs [6][7]. - The decision to provide the guarantee was approved by the company's board and does not require further shareholder approval [6][7]. Group 3 - The company maintains a credit rating of A+ with a stable outlook, as per the report from China Chengxin International Credit Rating Co., Ltd. [5]. - The trustee manager will continue to monitor the company's ability to repay the principal and interest of the bonds, ensuring the interests of bondholders are protected [7].