CFT(SH:603685) Zheng Quan Zhi Xing·2025-06-04 10:34Group 1 - The company Zhejiang Chenfeng Technology Co., Ltd. issued convertible bonds totaling 415 million yuan, approved by the China Securities Regulatory Commission [2][14] - The bonds were issued on August 23, 2021, with a face value of 100 yuan per bond, and began trading on the Shanghai Stock Exchange on September 17, 2021 [2][4] - The initial conversion price for the bonds is set at 13.06 yuan per share, with provisions for adjustments based on various corporate actions [4][5] Group 2 - The bonds have a fixed annual interest rate of 2.5% for the first five years and 3.0% for the sixth year, with interest paid annually [3][8] - The company has the right to redeem the bonds at 115% of the face value plus the last interest payment within five trading days after maturity [8][9] - Holders of the bonds can sell them back to the company under certain conditions, such as if the stock price falls below 70% of the conversion price [9][10] Group 3 - The company plans to use the raised funds for projects including the construction of a high-power LED lighting structure and kitchen accessories production line, as well as for working capital [13][14] - The bonds are secured by a pledge of shares from a major shareholder, ensuring the interests of bondholders are protected [14][15] - The company has maintained a credit rating of A for both its corporate and bond ratings, indicating stable financial health [15][16] Group 4 - The conversion price of the bonds will be adjusted to 12.77 yuan per share following the company's annual profit distribution plan, effective from June 4, 2025 [18][19] - The adjustment is in accordance with the terms outlined in the bond issuance prospectus, ensuring compliance with regulatory requirements [18][19] - The company will continue to monitor and report on any significant matters affecting bondholder interests [20]