CHERVON-AUTO(SH:603982) Zheng Quan Zhi Xing·2025-06-26 16:20Group 1 - The core point of the article is the issuance and management of convertible bonds by Nanjing Chervon Auto Precision Technology Co., Ltd, detailing the bond's terms, financial implications, and the company's financial performance [2][3][17] - The total amount approved for the issuance of convertible bonds is RMB 620 million, which was confirmed by the China Securities Regulatory Commission on July 29, 2021 [2][3] - The bonds were issued on September 14, 2021, with a total of 6.2 million bonds at a face value of RMB 100 each, raising a net amount of RMB 609.74 million after deducting issuance costs [3][4][21] Group 2 - The bond has a maturity period of 6 years, from September 14, 2021, to September 13, 2027, with an annual interest rate that increases from 0.4% in the first year to 3.0% in the sixth year [4][10] - The initial conversion price for the bonds is set at RMB 23.03 per share, with provisions for adjustments based on various corporate actions [6][7] - The company reported a net profit attributable to shareholders of RMB -5.17 billion for the year 2024, indicating a decline in profitability despite a revenue increase of 7.9% to RMB 2.30 billion [20][24] Group 3 - The funds raised from the bond issuance are allocated to a high-end automotive parts intelligent manufacturing project, with a total investment of RMB 1.05 billion, of which RMB 620 million is sourced from the bond proceeds [18][21] - As of December 31, 2024, the company has utilized all the raised funds, with no remaining balance, and the project has reached its intended operational status [22][25] - The company has established a dedicated account for managing the raised funds, ensuring compliance with regulatory requirements and proper oversight [25][27]