TZTEK(SH:688003) Zheng Quan Zhi Xing·2025-08-08 12:13Core Viewpoint - Suzhou TZTEK Technology Co., Ltd. plans to issue convertible bonds to unspecified investors, with a total amount not exceeding RMB 872 million, to support its business operations and growth [4][18]. Summary by Sections Issuer and Legal Compliance - The company and its board guarantee the truthfulness and completeness of the announcement, and the issuance complies with relevant laws and regulations regarding the issuance of securities on the Sci-Tech Innovation Board [1][4]. Issuance Overview - The type of securities to be issued is convertible bonds, which can be converted into A-shares of the company. The bonds will be listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board [4][5]. - The total issuance amount is capped at RMB 872 million, with each bond having a face value of RMB 100 [4][5]. Bond Terms - The bonds will have a term of 6 years from the date of issuance [5]. - The interest rate will be determined by the board based on market conditions and company specifics, with annual interest payments [5][6]. - The conversion period for the bonds will start six months after issuance and last until maturity [7]. Conversion and Redemption - The initial conversion price will be set based on the average stock price over the 20 trading days prior to the announcement, with adjustments possible under certain conditions [7][8]. - The company has the right to redeem the bonds under specific conditions, such as if the stock price exceeds 120% of the conversion price for a certain period [11]. Financial Information - The company’s financial reports for the years 2022, 2023, and 2024 have been audited, showing a total asset value of RMB 360.41 million as of March 31, 2025 [20][21]. - The total revenue for the first quarter of 2025 is reported at RMB 21.86 million, with total costs of RMB 27.07 million [21]. Use of Proceeds - The proceeds from the bond issuance will be used for specific projects, with a total investment amount of RMB 911.28 million planned, and the company will self-fund any shortfall if necessary [18][19]. Bondholder Rights and Obligations - Bondholders will have rights to interest payments, conversion to shares, and the ability to sell back the bonds under certain conditions [14][15]. - They are also obligated to comply with the terms of the bond issuance and pay the subscription amount [15][16]. Meeting and Governance - The company will convene bondholder meetings under specific circumstances, such as changes to the bond terms or financial difficulties [16][17]. Duration of the Issuance Plan - The validity of the bond issuance plan is set for 12 months from the date of approval by the shareholders' meeting [19].