Longhua New Material(SZ:301149) Zheng Quan Zhi Xing·2025-08-22 16:36Core Viewpoint - The company, ShanDong Longhua New Material Co., Ltd., plans to issue convertible bonds to unspecified investors, with a total fundraising target of up to RMB 960 million, to support its expansion projects [1][4][17]. Summary by Sections Issuance Overview - The issuance of convertible bonds complies with relevant regulations under the Company Law, Securities Law, and Issuance Registration Measures [3]. - The bonds will be convertible into the company's A-shares and will be listed on the Shenzhen Stock Exchange's Growth Enterprise Market [4]. Financial Details - The total amount to be raised from the issuance is capped at RMB 960 million, with each bond having a face value of RMB 100 [4]. - The bonds will have a term of six years, with interest paid annually [5][6]. - The interest rate will be determined based on market conditions and company specifics prior to issuance [4][5]. Use of Proceeds - The funds raised will primarily be allocated to the construction of a project aimed at producing 200,000 tons of environmentally friendly polyether series products, with a total investment of RMB 1.1 billion [17]. - The company has already completed the first phase of a related project, which has a designed capacity of 40,000 tons per year [17]. Bondholder Rights and Obligations - Bondholders will have the right to convert their bonds into shares, receive interest payments, and participate in bondholder meetings [14][16]. - The company will not provide guarantees for the bonds, and a credit rating will be conducted by a qualified agency [18]. Financial Performance - As of June 30, 2025, the company reported total assets of approximately RMB 3.34 billion, with a significant increase in current assets compared to previous years [19][20]. - The company’s total liabilities stood at approximately RMB 1.35 billion, indicating a healthy equity position with total equity of around RMB 1.99 billion [22].