LJRB(SH:600853) Zhong Guo Jing Ji Wang·2025-05-29 02:25Core Viewpoint - The Shanghai Stock Exchange's listing review committee has approved Longjian Road and Bridge Co., Ltd.'s refinancing plan, confirming it meets the issuance, listing, and information disclosure requirements [1] Group 1: Company Financials and Operations - The company holds a significant amount of cash and high debt levels, which raises questions regarding the rationale behind this financial structure [2] - The company is required to provide a detailed analysis of its debt repayment plans, funding sources, and overall debt servicing capability, including metrics such as debt-to-asset ratio and interest coverage ratio [2] Group 2: Fundraising and Project Allocation - Longjian Road and Bridge plans to raise up to 100 million yuan through the issuance of convertible bonds, with proceeds allocated to specific projects and debt repayment [3] - The total investment for the projects includes 653.04 million yuan for the G1111 Hegang to Ta Qing section project, 183.45 million yuan for the Dan A highway reconstruction project, and 45 million yuan for bank loan repayment, totaling 881.49 million yuan [4] - The convertible bonds will be issued at a par value of 100 yuan each, with the issuance method to be determined by the company's board of directors in consultation with the underwriters [4]