Zhongzhuang Construction(SZ:002822) Zheng Quan Zhi Xing·2025-06-02 08:48Core Viewpoint - The report outlines the issuance of convertible bonds by Shenzhen Zhongzhuang Construction Group Co., Ltd., detailing the bond's approval, terms, and the impact of recent changes in the shareholding structure of the company [3][16][20]. Summary by Sections Convertible Bond Approval and Details - The issuance of the convertible bonds has been approved by the company's board and shareholders, with a total face value of RMB 1.16 billion [3][4]. - The bonds are convertible into A-shares of the company and will be listed on the Shenzhen Stock Exchange [4][5]. - The bonds have a maturity period of six years, from April 16, 2021, to April 15, 2027, with an annual interest rate starting at 0.30% in the first year [4][5]. Shareholding Changes - The actual controller of the company, Ms. Zhuang Xiaohong, sold 38,130,390 shares through judicial auction, reducing her stake from 18.72% to 13.53% of the total share capital [16][19]. - Following the sale, Ms. Zhuang holds 153,972,668 shares, representing 20.96% of the total share capital, with a significant portion being subject to judicial freeze [19][20]. Impact on Company Governance - The reduction in shareholding does not change the control of the company, and it is not expected to have a significant impact on the company's governance structure or ongoing operations [19][20]. - The company will continue to monitor the situation closely to ensure the interests of bondholders are protected [20].