Zheng Quan Zhi Xing·2025-08-21 09:13Core Viewpoint - Ningxia Xiaoming Agricultural and Animal Husbandry Co., Ltd. has issued convertible bonds totaling RMB 329 million, approved by the China Securities Regulatory Commission, to fund its main business projects [2][3][6]. Group 1: Bond Issuance Overview - The bonds, named Xiaoming Convertible Bonds (code: 123189), were issued at a face value of RMB 100 each, with a total fundraising amount of RMB 329 million [2][3]. - The bonds will pay interest annually, with the first interest payment starting from the issuance date [4][5]. - The initial conversion price for the bonds is set at RMB 19.43 per share, based on the average trading price of the company's stock prior to the announcement [6][12]. Group 2: Fund Utilization - The net proceeds from the bond issuance will be used entirely for the company's main business-related investment projects, as approved by the shareholders [5][6]. - The specific projects funded by the bond proceeds include the Red Temple Fort Smart Agriculture Industry Demonstration Park [5][6]. Group 3: Corporate Governance Changes - The company plans to cancel its supervisory board, transferring its responsibilities to the audit committee of the board of directors, in line with the new Company Law [13][14]. - This change aims to enhance corporate governance and operational efficiency, and it has been approved by the company's board and supervisory board [13][14]. Group 4: Ongoing Monitoring and Management - Huaxi Securities, as the bond trustee, will continuously monitor significant matters affecting bondholders' rights and interests [2][14]. - The company has committed to ensuring the safety of the principal and interest payments of the bonds, with no adverse impact on its operational capabilities [13][14].