AWINIC(SH:688798) Zheng Quan Zhi Xing·2025-07-28 16:50Meeting Overview - The 11th meeting of the 4th Supervisory Board of Shanghai Aiwei Electronics Technology Co., Ltd. was held on July 27, 2025, in a combination of on-site and communication methods, with all three supervisors present, making the meeting valid and effective [1][2]. Key Resolutions - The Supervisory Board approved the proposal regarding the company's compliance with the conditions for issuing convertible bonds to unspecified objects, confirming that the company meets the legal requirements for such issuance [1][2]. - The company plans to issue up to 19,013,200 convertible bonds, with a total fundraising amount not exceeding RMB 190,132,000, and each bond will have a face value of RMB 100 [2][3]. - The bonds will have a duration of six years from the date of issuance, with interest paid annually [3][4]. Interest Rate and Payment Terms - The interest rate for the bonds will be determined by the Board of Directors based on market conditions and will be paid annually, with the principal returned at maturity [3][4]. - The calculation for annual interest is defined, and the payment will occur within five trading days after each interest payment date [4][5]. Conversion Terms - The conversion period for the bonds will start six months after issuance and last until the maturity date, allowing bondholders to convert their bonds into shares [5][6]. - The initial conversion price will be based on the average trading price of the company's A-shares over the previous twenty trading days [5][6]. Redemption and Buyback Provisions - The company will redeem all unconverted bonds within five trading days after maturity, and it has the right to redeem bonds under certain conditions during the conversion period [9][11]. - Bondholders have the right to sell back their bonds to the company at face value plus accrued interest if specific conditions regarding stock price are met [11][12]. Fund Utilization - The total investment for the projects funded by the bond issuance is RMB 245,460,500, with the raised funds allocated to specific projects [15][16]. - The company will manage the raised funds in a dedicated account and has established a fundraising management system [15][16]. Additional Proposals - The company has proposed various reports and plans related to the bond issuance, including feasibility studies and the impact on shareholder returns, which will be submitted for shareholder approval [19][20][21]. - The company also plans to revise its articles of association to reflect changes in registered capital and other governance matters [23][24].