Shenergy(SH:600642) Zheng Quan Zhi Xing·2025-08-15 11:28Core Viewpoint - The announcement details the issuance of convertible bonds by the company, outlining the potential dilution of immediate returns and the measures to compensate for this dilution, ensuring the protection of minority investors' interests [1][2][3]. Group 1: Impact of Convertible Bond Issuance - The issuance of convertible bonds is expected to dilute immediate returns, with specific financial metrics analyzed under different scenarios of net profit growth compared to 2024 [1][2]. - The company estimates that if the net profit remains the same as in 2024, the diluted earnings per share (EPS) would be 0.79 yuan per share after full conversion of bonds [1]. - In scenarios where net profit increases by 10% and 20%, the diluted EPS would rise to 0.87 yuan and 0.94 yuan respectively, indicating a positive impact on returns with improved profitability [2][3]. Group 2: Use of Proceeds from Bond Issuance - The funds raised from the bond issuance will be used for projects including a 135 MW wind power project and a 1 offshore photovoltaic project, as well as to supplement working capital [2][3]. - These projects align with the company's core business in energy development and management, supporting its strategic goals and enhancing its competitive position in the renewable energy sector [2][3]. Group 3: Company’s Commitment to Return Measures - The company has committed to specific measures to mitigate the dilution of immediate returns, including accelerating project construction and improving fund management efficiency [5][6]. - The company will adhere to a strict profit distribution policy to ensure stable returns for shareholders, particularly small and medium investors [8][9]. - The board and major shareholders have made commitments to ensure the effectiveness of these measures, promising to comply with regulatory requirements and to compensate for any losses incurred due to non-compliance [9]. Group 4: Industry Context and Support - The company operates in a supportive regulatory environment, with national policies encouraging the development of clean and renewable energy sources, which is expected to enhance the market for such projects [4][5]. - The company has a strong technical foundation and operational experience in renewable energy, which positions it well to capitalize on the growing demand for clean energy solutions [3][4].