Core Viewpoint - Company X has decided to terminate the issuance of convertible bonds to unspecified objects and withdraw the application documents due to changes in the external macro environment and its overall development plan [1][2]. Group 1: Termination of Bond Issuance - Company X held meetings on June 5, 2025, where it approved the termination of the issuance of convertible bonds and the withdrawal of related application documents [1]. - The decision was made after thorough communication with relevant parties, considering various factors including the current internal and external environment [2]. Group 2: Financial Implications - The planned fundraising amount from the convertible bond issuance was up to RMB 27 million, which was intended for projects including the construction of a production base in Vietnam, a research and development center, and to supplement working capital [2][4]. - The initial plan disclosed on February 27, 2023, indicated a higher fundraising target of up to RMB 42 million, showing a reduction in the expected amount [4]. Group 3: Company Performance - Company X reported that its business operations are normal and its financial condition is good, indicating that the termination of the bond issuance will not significantly impact its operations or harm the interests of shareholders, especially minority shareholders [2]. - In the first quarter of 2025, Company X's total revenue was RMB 167 million, a year-on-year decrease of 3.4%, while net profit attributable to shareholders increased by 689.47% to RMB 4.97 million [7].