TBEA(SH:600089) Zhong Guo Jing Ji Wang·2025-08-19 05:36Core Viewpoint - The company TBEA Co., Ltd. plans to issue convertible bonds to raise up to RMB 800 million for its coal-to-natural gas project, with the bonds convertible into A-shares listed on the Shanghai Stock Exchange [1][2]. Group 1: Convertible Bond Issuance - The total amount of the convertible bonds to be issued is not more than RMB 800 million, which will be used for the 20 billion Nm3/year coal-to-natural gas project [1]. - The bonds will have a face value of RMB 100 each and will be issued at face value, with a term of six years from the date of issuance [1]. - The interest rate for the bonds will be determined based on national policies, market conditions, and the company's specific situation, with annual interest payments [1][2]. Group 2: Conversion and Shareholder Rights - The conversion period for the bonds will start six months after issuance and last until maturity, allowing bondholders to choose whether to convert their bonds into shares [2]. - Upon conversion, bondholders will become shareholders of the company the day after the conversion [2]. Group 3: Financial Performance - The company's projected revenues for 2022, 2023, and 2024 are RMB 96.39 billion, RMB 98.12 billion, and RMB 97.78 billion, respectively, with net profits of RMB 15.91 billion, RMB 10.70 billion, and RMB 4.14 billion [2]. - In the first quarter of 2025, the company reported a revenue of RMB 23.36 billion, a year-on-year decrease of 0.79%, and a net profit of RMB 1.60 billion, down 19.74% year-on-year [3].