Core Viewpoint - The report outlines the issuance of convertible bonds by Henan Bccy Environmental Energy Co., Ltd., detailing the bond's terms, the company's financial performance, and the management of raised funds. Group 1: Bond Issuance Details - The company issued 4,200,000 convertible bonds with a total fundraising amount of RMB 420 million, each with a face value of RMB 100 [3][17]. - The bonds have a maturity period of 6 years, from February 22, 2023, to February 21, 2029, with annual interest rates starting at 0.30% in the first year and increasing to 2.80% in the sixth year [4][5]. - The initial conversion price for the bonds is set at RMB 28.32 per share, subject to adjustments based on various corporate actions [5][6]. Group 2: Financial Performance - For the fiscal year 2024, the company reported a revenue of RMB 45,205.63 million, a decrease of 6.49% year-on-year, and a net loss attributable to shareholders of RMB -28,220.91 million, a significant decline of 189.47% [16]. - The company's total assets decreased by 21.40% from the previous year, amounting to RMB 1,283,796,375.24 [16]. Group 3: Fund Management and Usage - The net amount raised after deducting issuance costs was RMB 410,976,537.74, with a portion allocated to various projects including the biogas comprehensive utilization project [17][19]. - As of December 31, 2024, the company had a remaining balance of RMB 28,704,223.06 in its special fund account for raised funds [19][20]. - The company has faced challenges in project implementation, particularly in the biogas utilization projects, leading to slower-than-expected progress and operational issues [20][21].