Guangdong Fangyuan New Materials (SH:688148) Zheng Quan Zhi Xing·2025-07-24 16:21Group 1 - The report is prepared by China International Capital Corporation as the trustee manager for the convertible bonds issued by Guangdong Fangyuan New Materials Group Co., Ltd [2][3] - The bonds were approved by the company's board meetings and the first extraordinary general meeting of shareholders in 2022 [3][4] - The issuance of the convertible bonds was approved by the Shanghai Stock Exchange and registered with the China Securities Regulatory Commission [4] Group 2 - The total issuance scale of the convertible bonds is RMB 642 million, with a total of 6,420,000 bonds issued at a face value of RMB 100 each [5] - The bonds have a term of six years, from September 23, 2022, to September 22, 2028, with an annual interest rate that increases over the years [6][7] - The initial conversion price for the bonds is set at RMB 18.62 per share, with the current conversion price at RMB 18.63 per share [12] Group 3 - The credit rating for the bonds is A+, with a stable outlook, as assessed by Zhongjian Pengyuan Credit Rating Co., Ltd [8] - The credit rating was later adjusted to BBB, maintaining a stable outlook [8] - The bonds are unsecured and do not have any guarantees [9] Group 4 - The company has undergone a change in its registered address and has eliminated its supervisory board, transferring some responsibilities to the audit committee of the board [10] - The fourth board of directors was elected on July 21, 2025, with a term of three years [11] - The new management team includes a president and several vice presidents, with specific roles outlined [12][13]