尚太科技: 向不特定对象发行可转换公司债券方案的论证分析报告（修订稿）

Group 1 - The company plans to issue convertible bonds to meet funding needs, expand operations, and enhance competitiveness [2][3][9] - The convertible bonds will be listed on the Shenzhen Stock Exchange and will be offered to unspecified investors, with existing shareholders having priority [3][4][5] - The total amount to be raised through this issuance will not exceed RMB 173,400 million, which will be used for a project to produce 200,000 tons of lithium battery anode materials [11][15][25] Group 2 - The company has demonstrated a sound organizational structure and has met the requirements for issuing convertible bonds under relevant laws [9][24] - The average distributable profit over the last three years is sufficient to cover the interest on the bonds, with figures of RMB 128,945.45 million, RMB 72,290.50 million, and RMB 83,832.71 million [10][24] - The company has a reasonable asset-liability structure and normal cash flow, with debt ratios of 41.41%, 23.64%, and 32.38% [10][11] Group 3 - The company has maintained profitability over the last three years, with net profits of RMB 128,144.33 million, RMB 71,327.50 million, and RMB 80,855.43 million [11][25] - The issuance plan has been carefully considered by the board and is expected to benefit the company and all shareholders [27] - The company has established measures to mitigate the dilution of immediate returns for existing shareholders [28]