Gian(SZ:300709) Zheng Quan Zhi Xing·2025-08-01 16:35Core Viewpoint - The company plans to issue convertible bonds to unspecified investors, with a total amount not exceeding RMB 577.89 million, to support its operational and investment needs [2][16][20]. Board Meeting Details - The board meeting was held both in person and via communication, with all members present [1]. - The board approved the proposal for issuing convertible bonds, with a unanimous vote of 7 in favor [2][3]. Convertible Bond Issuance Plan - The type of securities to be issued is convertible bonds that can be converted into A-shares listed on the Shenzhen Stock Exchange [2]. - The total amount of funds to be raised through this issuance is capped at RMB 577.89 million [2][16]. - Each bond will have a face value of RMB 100 and will be issued at face value [3]. - The bonds will have a term of six years from the date of issuance [3]. - The interest rate will be determined based on market conditions and company specifics, with adjustments possible if bank deposit rates change [3][4]. Interest Payment and Redemption - Interest will be paid annually, with the principal repaid at maturity [4][5]. - The bondholders will have the option to convert their bonds into shares after a six-month period from issuance [5]. - The initial conversion price will be determined based on the average stock price prior to the announcement [5][6]. Rights and Obligations of Bondholders - Bondholders will have rights to interest payments, conversion into shares, and the ability to sell back the bonds under certain conditions [12][13]. - The company will not provide guarantees for the bonds [18]. Use of Proceeds - The proceeds from the bond issuance will be primarily used for the MIM components and assembly production project, with a total investment of RMB 588.42 million [17]. - If the actual funds raised are less than planned, the company will use its own funds to cover the shortfall [17]. Management of Funds - The raised funds will be managed in a dedicated account, with specific protocols established for their use [18]. Shareholder Rights - Existing shareholders will have priority in the bond issuance, with specific proportions to be determined [15][26]. Future Plans - The company aims to enhance its governance structure by increasing the board size from 7 to 9 members, including a non-independent director and a representative from employees [30][31].