BEIJING TELESOUND ELECTRONICS CO.(SZ:003004) Zheng Quan Zhi Xing·2025-06-25 17:55Group 1: Bond Issuance Overview - The company, Beijing Telesound Electronics Co., Ltd., has approved the public issuance of convertible bonds totaling RMB 280 million, which was confirmed by the China Securities Regulatory Commission on October 8, 2022 [2][3][12] - The bonds will have a maturity of six years, with an annual interest rate that increases from 0.30% in the first year to 3.00% in the sixth year [3][4][6] - The initial conversion price for the bonds is set at RMB 29.34 per share, subject to adjustments based on various corporate actions [4][5][6] Group 2: Financial Performance - For the fiscal year 2024, the company reported a revenue of RMB 301.74 million, representing a year-on-year increase of 7.85% [17][18] - However, the net profit attributable to shareholders decreased significantly by 304.23%, resulting in a loss of RMB 51.20 million [17][18] - The company's total assets increased by 2.92% to RMB 1.20 billion by the end of 2024 [18] Group 3: Use of Proceeds - The company has utilized RMB 120.04 million of the raised funds, with ongoing projects still in the construction phase [19][20] - The company has adjusted the expected completion date for certain projects from December 31, 2024, to December 31, 2026, due to delays [19] - The company has also approved the temporary use of up to RMB 70 million of idle funds to supplement working capital, ensuring that it does not affect the ongoing projects [20][21] Group 4: Debt Management and Ratings - The bonds are backed by guarantees from the company's actual controller and major shareholder, ensuring timely repayment of principal and interest [15][22] - The credit rating for the company and the bonds has been assessed as A+ with a stable outlook by Zhongjian Pengyuan Credit Rating Co., Ltd. [15][24] - The company has established a dedicated account for managing the raised funds and has implemented measures to ensure compliance with the bond issuance regulations [22][24]