XINHUA CHEMICAL(SH:603867) Zheng Quan Zhi Xing·2025-06-11 09:22Core Viewpoint - Zhejiang Xinhua Chemical Co., Ltd. has successfully issued convertible bonds totaling RMB 65 million, with net proceeds of RMB 63.93 million after deducting issuance costs, to be used for various investment projects [2][11]. Group 1: Approval and Issuance Details - The issuance of convertible bonds was approved by the China Securities Regulatory Commission, allowing the company to issue 6.5 million bonds at a face value of RMB 100 each [2]. - The bonds were listed for trading on the Shanghai Stock Exchange starting December 16, 2022, under the name "Xinhua Convertible Bonds" [2]. - The bonds have a maximum term of 6 years, with a structured interest rate that increases from 0.3% in the first year to 3.0% in the sixth year [2][3]. Group 2: Bond Terms and Conditions - The bonds are convertible into A-shares of the company, with an initial conversion price set at RMB 32.41 per share [4][5]. - The conversion period starts six months after the issuance and lasts until November 27, 2028 [3][4]. - The bonds do not provide any guarantees and will be redeemed at 115% of the face value upon maturity [3][9]. Group 3: Use of Proceeds - The total amount raised will be allocated to specific investment projects, with a total planned investment of RMB 74.32 million [11]. - If the actual net proceeds are less than the planned investment, the company will cover the shortfall through self-funding [11]. Group 4: Credit Rating - The bonds have been rated "AA-" by China Chengxin International Credit Rating Co., Ltd., with a stable outlook [12][13]. Group 5: Profit Distribution and Adjustments - The company plans to distribute a cash dividend of RMB 4.50 per 10 shares, which will affect the conversion price of the bonds [14][15]. - The adjusted conversion price after the dividend distribution will be approximately RMB 19.81 per share, effective from June 18, 2025 [15].