JINHONG GAS(SH:688106) Zheng Quan Zhi Xing·2025-06-04 10:34Overview of the Convertible Bond Issuance - Jinhong Gas Co., Ltd. has issued 10,160,000 convertible bonds with a face value of RMB 100 each, raising a total of RMB 101,600 million, approved by the China Securities Regulatory Commission on July 17, 2023 [1][2][9] - The bonds have a maturity of six years, from July 17, 2023, to July 16, 2029, and will start converting into shares on January 21, 2024 [1][2][3] Financial Performance - For the fiscal year 2024, Jinhong Gas reported a revenue of RMB 252,527.77 million, a 4.03% increase from RMB 242,735.33 million in 2023 [21] - The net profit attributable to shareholders decreased by 36.12% to RMB 20,122.51 million compared to the previous year [21] - The total assets of the company increased by 8.46% to RMB 676,722.74 million as of the end of 2024 [21] Use of Proceeds - The proceeds from the bond issuance will be used for projects including the construction of electronic-grade nitrogen, liquid nitrogen, and liquid oxygen facilities, with a total project investment of RMB 124,093.66 million [10][22] - The net proceeds after deducting issuance costs amount to RMB 1,004,159,622.64 [22] Bondholder Rights and Obligations - Bondholders have rights to interest payments, conversion to shares, and the ability to sell back the bonds under certain conditions [11][12] - The company is obligated to adhere to the terms of the bond issuance and ensure timely payment of interest and principal [19][20] Credit Rating - The bonds have been rated AA- by China Chengxin International Credit Rating Co., Ltd., with a stable outlook [11]