Huafa Properties(SH:600325) Zhong Guo Jing Ji Wang·2025-07-15 06:55Core Viewpoint - Huafa Co., Ltd. has received approval from the Shanghai Stock Exchange for its plan to issue convertible bonds to specific investors, pending final registration from the China Securities Regulatory Commission (CSRC) [1][2]. Group 1: Convertible Bond Issuance - The total amount for the convertible bond issuance is capped at 480 million yuan, with a maximum of 48 million bonds to be issued [2]. - The net proceeds from the issuance will be allocated entirely to three projects: Shanghai Huafa Haishang Du Hui, Wuxi Huafa Central Mansion, and Zhuhai Huafa Jinwan Mansion [2][3]. - The total investment for these projects is approximately 2.9 billion yuan, with specific allocations of 280 million yuan for the Shanghai project, 110 million yuan for the Wuxi project, and 90 million yuan for the Zhuhai project [3]. Group 2: Regulatory and Investor Details - The issuance will target no more than 35 specific investors, including qualified institutional investors such as securities companies, insurance institutions, and qualified foreign institutional investors [3][4]. - The relationship between the company and the specific investors will be disclosed in the issuance report after the bond issuance is completed [4]. - The decision to issue the bonds is valid for 12 months from the date of approval by the shareholders' meeting [4]. Group 3: Financial Performance - For the first half of 2025, the company expects a net profit attributable to shareholders of 168 million yuan, a decrease of 86.69% year-on-year [4]. - The expected net profit after deducting non-recurring gains and losses is projected to be 149 million yuan, reflecting a decline of 87.46% compared to the previous year [4][5]. - The total profit for the reporting period is anticipated to be 120 million yuan, down 53.42% from the same period last year [5].