Zheng Quan Zhi Xing·2025-06-27 16:30Core Viewpoint - Zhangjiagang Guoda Special Materials Co., Ltd. is issuing convertible bonds to unspecified objects, with a total issuance amount of RMB 155 million, aiming to enhance its capital structure and provide investment opportunities for bondholders [2][3][6]. Group 1: Bond Issuance Details - The bond issuance plan was approved by the company's board on November 18, 2021, and by the shareholders on December 6, 2021 [2]. - The issuance was approved by the Shanghai Stock Exchange on August 11, 2022, and the China Securities Regulatory Commission on December 6, 2022 [3]. - A total of 15,500,000 convertible bonds were issued at a par value of RMB 100 each, raising a net amount of RMB 153.49 million after deducting issuance costs [3][6]. Group 2: Bond Characteristics - The bonds have a term of six years, with interest rates increasing from 0.30% in the first year to 2.00% in the sixth year [6][7]. - The initial conversion price is set at RMB 33.12 per share, with adjustments based on corporate actions such as cash dividends [8][11]. - The bonds are rated AA- by China Chengxin International Credit Rating Co., Ltd., with a stable outlook [8]. Group 3: Conversion Price Adjustment - The conversion price will be adjusted from RMB 21.20 to RMB 20.84 per share effective June 12, 2025, due to a cash dividend distribution [9][13]. - The adjustment is based on the company's total share capital and the cash dividend per share calculated from the total profit distribution [12][13]. - The company will continue to monitor the impact of these adjustments on bondholders' interests [14].