Entive(SZ:300911) Zheng Quan Zhi Xing·2025-08-07 10:14Core Viewpoint - Zhejiang Yitian Intelligent Kitchen Appliances Co., Ltd. plans to terminate its convertible bond fundraising projects and permanently supplement remaining funds into working capital due to adverse market conditions affecting the integrated stove market [2][3][4]. Group 1: Company Announcement - The company has decided to terminate the "Environmental Integrated Stove Industrial Park (Phase II)" and "Brand Construction and Promotion Project" due to ongoing adjustments in the real estate market and declining consumer confidence [2][3]. - The remaining raised funds, approximately 496 million yuan, will be redirected to support daily operations and business development [3][4]. - The decision was approved by the company's board, supervisory board, and shareholders' meeting [2][3]. Group 2: Financial Status - As of June 30, 2025, the company had utilized 515 million yuan of the raised funds, leaving a remaining balance of 32 million yuan [3]. - The company’s convertible bond balance as of August 1, 2025, is 450 million yuan, with a conversion price of 21.31 yuan per share [3][4]. Group 3: Credit Rating - The credit rating agency maintains the company's credit rating at AA- with a stable outlook, reflecting the company's current financial and operational status [4][5]. - The agency will continue to monitor the company's operational and financial changes and their potential impact on credit ratings [4][5].