Hefei Chipmore Technology (SH:688352) Zheng Quan Zhi Xing·2025-06-26 16:37Core Viewpoint - Hefei Chipmore Technology Co., Ltd. is issuing convertible bonds to unspecified investors, with a focus on raising funds for technological advancements and business expansion in the semiconductor packaging industry. Group 1: Bond Issuance Details - The company is issuing convertible bonds with a redemption clause, including both maturity redemption and conditional redemption, with the redemption price to be determined based on market conditions at the time of issuance [3] - The company emphasizes that the convertible bonds are not guaranteed, which may pose repayment risks if adverse events impact the company's operations [4] Group 2: Credit Rating - The credit rating agency Dongfang Jincheng has rated the company's credit as "AA+" with a stable outlook for the convertible bonds [4] Group 3: Risks Associated with Technology and Market - The company faces risks related to technological upgrades and product iterations, particularly in the integrated circuit industry, where performance demands are increasing [4][5] - There is a risk of unfavorable market conditions affecting the development of non-display business segments, which are currently smaller in scale compared to competitors [6] - Increased competition in the semiconductor packaging industry may adversely affect the company's business development and operational performance [6] Group 4: Fund Utilization and Project Risks - The funds raised will be invested in projects such as advanced power and flip-chip packaging technology, which are crucial for enhancing the company's production capabilities [7][9] - There are risks associated with the timely availability of funds and potential delays in project implementation, which could impact the company's operational efficiency [8][9] Group 5: Measures to Mitigate Immediate Return Dilution - The company plans to implement various measures to protect investors' interests and mitigate the potential dilution of immediate returns from the bond issuance [10][12] - The company commits to strict governance and management practices to ensure effective use of the raised funds and to enhance its profitability and core competitiveness [10][11]