Shang Hai Zheng Quan Bao·2025-06-03 18:31Core Viewpoint - The announcement details the changes in the holding ratio of convertible bonds by the controlling shareholder of Xinjiang Zhonghe, which has resulted in an increase in shareholding percentage due to the conversion of bonds into stocks [1][5]. Group 1: Convertible Bond Issuance and Allocation - Xinjiang Zhonghe issued 13.75 million convertible bonds on July 18, 2023, with a total value of 137.5 million yuan, each with a face value of 100 yuan [2][8]. - The controlling shareholder, Tebian Electric Apparatus Stock Co., Ltd., subscribed to 4,704,010 bonds, accounting for 34.21% of the total issuance [2]. Group 2: Changes in Holding Ratios - Tebian Electric converted 1,893,760 bonds into shares on March 29, 2024, and 1,904,600 bonds on May 30, 2025, reducing its bond holdings by 67.77% [3]. - As of the announcement date, Tebian Electric holds 905,650 bonds, which is 6.59% of the total issuance [3]. Group 3: Shareholding Increase - The conversion of bonds led to an increase in Tebian Electric's shareholding from 35.54% to 36.81%, an increase of 1.27% [9]. - The change in shareholding does not alter the status of the controlling shareholder or actual controller of the company [10]. Group 4: Regulatory Compliance - The change in equity is exempt from the requirement to issue a tender offer under the relevant regulations, as it does not lead to a change in control [7][10]. - The convertible bonds are currently in the conversion period, and future conversions may lead to further changes in equity [10].