WEIHAI GUANGTAI(SZ:002111) Zheng Quan Zhi Xing·2025-06-27 16:52Core Viewpoint - Weihai Guangtai Airport Equipment Co., Ltd. has issued convertible bonds to unspecified investors, raising a total of RMB 700 million, with a net amount of RMB 691.93 million after deducting issuance costs [2][4][16]. Section 1: Bond Overview - The bond issuance was approved by the board and shareholders in late 2022 and early 2023, with regulatory approval from the China Securities Regulatory Commission [2][4]. - The bond consists of 7 million units, each with a face value of RMB 100, and is named "Guangtai Convertible Bond" with the code "127095" [3][4]. Section 2: Key Terms of the Bond - The total issuance scale is RMB 70 million, with a maturity of 6 years from October 18, 2023 [4][5]. - The coupon rates are structured to increase from 0.20% in the first year to 2.50% in the sixth year [5][6]. - Interest payments will be made annually, with the principal and final interest due at maturity [5][6]. Section 3: Conversion and Redemption Terms - The initial conversion price is set at RMB 9.38 per share, with provisions for adjustments based on stock dividends and other corporate actions [6][7]. - The company has the right to redeem the bonds at 115% of the face value if certain stock price conditions are met [9][10]. - Holders can sell back the bonds to the company if the stock price falls below 70% of the conversion price during the last two years of the bond's term [10][11]. Section 4: Use of Proceeds - The net proceeds from the bond issuance will be used for emergency rescue equipment production projects, with a total investment of RMB 84.69 million [17][16]. - If the actual net proceeds are less than planned, the company will cover the shortfall with its own funds or other financing methods [17]. Section 5: Company Overview - Weihai Guangtai was established on August 30, 2002, and is listed on the Shenzhen Stock Exchange with a registered capital of RMB 531.23 million [19]. - The company focuses on high-end intelligent equipment manufacturing, particularly in airport and emergency rescue equipment sectors [19][20]. Section 6: Financial Performance - For the year 2024, the company reported a revenue of RMB 288.75 million, a 20.09% increase from the previous year, while net profit decreased by 40.62% to RMB 7.46 million [23]. - The company’s total assets increased by 7.60% to RMB 644.38 million, while net assets slightly decreased by 1.45% [23].