XINHUA CHEMICAL(SH:603867) Zheng Quan Zhi Xing·2025-08-13 11:11Core Viewpoint - Zhejiang Xinhua Chemical Co., Ltd. has successfully issued convertible bonds totaling RMB 65 million, with a net amount of RMB 63.93 million after deducting issuance costs, to be used for specific investment projects [2][11]. Group 1: Approval and Issuance Details - The issuance of convertible bonds was approved by the China Securities Regulatory Commission, allowing the company to issue 6.5 million bonds at a face value of RMB 100 each [2]. - The bonds were listed on the Shanghai Stock Exchange on December 16, 2022, under the name "Xinhua Convertible Bonds" with the code "113663" [2][14]. Group 2: Bond Terms - The bonds have a term of up to 6 years, from November 28, 2022, to November 27, 2028, with an annual interest rate that increases from 0.3% in the first year to 3.0% in the sixth year [2][14]. - The initial conversion price is set at RMB 32.41 per share, with provisions for adjustments based on various corporate actions [4][5]. Group 3: Use of Proceeds - The total planned investment for the projects funded by the bond proceeds is RMB 74.32 million, with the company committing to cover any shortfall if the actual net proceeds are less than this amount [11]. - The company will utilize its own funds or other means to initiate project investments before the bond proceeds are available [11]. Group 4: Credit Rating - The bonds have been rated "AA-" by China Chengxin International Credit Rating Co., Ltd., with a stable outlook [11][12]. Group 5: Redemption and Conversion Rights - The company has decided not to exercise its right to redeem the bonds early, despite meeting the conditions for redemption, to protect investor interests [17]. - Holders of the convertible bonds have the right to convert their bonds into shares during the specified conversion period from June 2, 2023, to November 27, 2028 [14].