Sobute New Materials (SH:603916) Zheng Quan Zhi Xing·2025-06-30 16:11Core Viewpoint - The report outlines the management and status of the convertible bonds issued by Jiangsu Sobute New Materials Co., Ltd., detailing the bond's terms, financial performance, and the company's operational status in 2024. Section 1: Debt Situation - The company has issued a total of 800,000 convertible bonds with a total value of RMB 80 million, approved by the board and shareholders [3][4]. - The bonds are set to mature in six years, from July 1, 2022, to June 30, 2028, with an annual interest rate that increases from 0.30% in the first year to 3.00% in the sixth year [4][5]. Section 2: Financial Performance - In 2024, the company reported a revenue of RMB 355.54 million, a slight decrease of 0.75% compared to 2023 [15]. - The net profit attributable to shareholders decreased by 40.24% to RMB 9.59 million [15]. - The net cash flow from operating activities increased by 56.97% to RMB 58.07 million [15]. Section 3: Fund Utilization - The company raised RMB 79.1 million after deducting underwriting fees, with the funds allocated to specific projects and managed in a dedicated account [4][15]. - As of December 31, 2024, the company had utilized RMB 63.38 million of the raised funds, with a remaining balance of RMB 15.96 million [15][16]. - The company has not changed the use of raised funds or used idle funds for temporary liquidity [16]. Section 4: Company Overview - Jiangsu Sobute New Materials Co., Ltd. is a leading supplier of new civil engineering materials in China, specializing in high-performance concrete additives [14]. - The company has received multiple accolades, including being recognized as a national high-tech enterprise and a champion product by the Ministry of Industry and Information Technology [14].