HIUV(SH:688680) Zheng Quan Zhi Xing·2025-07-16 16:26Core Viewpoint - Shanghai Haiyouwei New Materials Co., Ltd. is issuing convertible bonds to raise funds for new projects, while terminating a previous project due to market conditions and shifting focus to more promising areas [3][9][10]. Group 1: Bond Issuance Details - The company issued 6.94 billion RMB worth of convertible bonds, with a total of 6.94 million bonds at a face value of 100 RMB each [4][5]. - The bonds have a maturity of six years, from June 23, 2022, to June 22, 2028, with an annual interest rate of 0.30% for the first year [5][6]. - The initial conversion price is set at 217.42 RMB per share, subject to adjustments based on various corporate actions [6][8]. Group 2: Project Changes - The company has decided to terminate the "Annual Production of 200 Million Square Meters of Photovoltaic Encapsulation Film Project (Phase I)" due to a slowdown in industry demand and overcapacity issues [9][10]. - Remaining funds of 226.03 million RMB will be redirected to a new project for "Annual Production of 2 Million Square Meters of PDCLC Dimmer Film Products (Phase I)" [9][11]. - The new project aims to enhance production capabilities in the automotive sector, addressing increasing order demands and improving the company's competitive edge [10][12]. Group 3: Financial Management - The company plans to cover the funding gap for the new project through its own or self-raised funds, ensuring efficient use of raised capital [9][12]. - The decision to reallocate funds is aligned with the company's strategic planning and is expected to enhance long-term development without adversely affecting normal operations [13].