Zheng Quan Zhi Xing·2025-06-24 16:22Core Viewpoint - Ningbo Jintian Copper (Group) Co., Ltd. has successfully issued convertible bonds to raise funds for its operations and projects, reflecting its ongoing growth and strategic initiatives in the copper and rare earth permanent magnet materials sectors [1][2][3]. Section 1: Bond Issuance Details - The company issued 14.5 million convertible bonds at a face value of 100 RMB each, raising a total of 1.45 billion RMB [3][4]. - The bonds were approved by the China Securities Regulatory Commission and began trading on the Shanghai Stock Exchange on August 28, 2023 [3][4]. - The bond issuance was part of a broader strategy to adapt to regulatory changes and market conditions [2][3]. Section 2: Financial Performance - For the fiscal year 2024, the company reported a revenue of 124.16 billion RMB, a 12.36% increase from the previous year [12]. - The net profit attributable to shareholders decreased by 10.14% to 338.60 million RMB, indicating challenges in maintaining profitability [12][13]. - The total assets of the company increased by 18.19% year-on-year, reaching approximately 25.80 billion RMB [12]. Section 3: Use of Proceeds - The funds raised from the bond issuance are intended for various projects, including a new precision copper pipe production project in Thailand, which has replaced a previously planned project [14][15]. - As of December 31, 2024, the company had invested approximately 692.11 million RMB from the raised funds, with a remaining balance of 754.03 million RMB [13][16]. - The company has established strict management protocols for the use of the raised funds to ensure compliance and protect investor interests [13][16]. Section 4: Company Overview - Ningbo Jintian Copper has been in the non-ferrous metal processing industry for 39 years, focusing on copper products and rare earth permanent magnet materials [12]. - The company aims to become a world-class base for copper products and advanced materials, supporting modern industrial development [12].