Zheng Quan Zhi Xing·2025-07-20 08:22Core Points - The company, Hangzhou Oxygen Plant Group Co., Ltd., has received approval from the China Securities Regulatory Commission to publicly issue convertible bonds totaling 1.137 billion yuan with a term of six years [1][2][3] - The initial conversion price for the bonds is set at 28.69 yuan per share, which may be adjusted based on specific corporate actions such as stock dividends or capital increases [4][5][6] - The bonds will pay interest annually, with the first-year interest rate at 0.20% and the second-year rate at 0.40% [3][4] Bond Issuance Details - The total amount of the convertible bonds issued is 1.137 billion yuan, with each bond having a face value of 100 yuan [2][3] - The bonds will be issued on May 19, 2022, and will have a maturity period of six years [3] - Interest will be paid once a year, with the first payment occurring one year after the issuance date [4] Conversion and Redemption Terms - The conversion period for the bonds starts six months after issuance and lasts until the maturity date [4][5] - The company has the right to redeem the bonds at 108% of the face value plus the last interest payment within five business days after maturity [9] - Holders of the bonds can sell them back to the company at face value plus accrued interest if the stock price falls below 70% of the conversion price during the last two interest years [10][11] Use of Proceeds - The proceeds from the bond issuance will be used for specific projects, with a total investment of 1.38377 billion yuan, of which 1.137 billion yuan will be funded by the bond issuance [12][16] - Any shortfall in funding will be covered by the company through self-raised funds [12] Impact of Stock Buyback - The company plans to repurchase and cancel 5,539,375 shares of restricted stock due to unmet performance targets, which will affect the conversion price of the bonds [15][17] - The adjusted conversion price after the stock buyback will be 26.07 yuan per share, effective from July 21, 2025 [18][19]