Huakai Yibai(SZ:300592) Zheng Quan Zhi Xing·2025-08-25 16:52Core Viewpoint - The company has decided to terminate the issuance of convertible bonds to unspecified objects due to improved cash flow and the ability to fund projects through internal resources and diversified financing channels [1][2]. Group 1: Termination of Convertible Bond Issuance - The company held a board meeting on August 25, 2025, where it approved the termination of the plan to issue convertible bonds [1]. - The initial proposal for the issuance was approved in a board meeting on March 23, 2025, but had not yet been submitted for shareholder approval [1][2]. Group 2: Reasons for Termination - The decision to terminate the bond issuance was based on the steady improvement in the company's cash flow and the ability to meet project funding needs through self-funding and other financing options [2]. - The company considered strategic development needs, the scale of its own funds, and changes in the market environment before making this decision [2]. Group 3: Impact of Termination - The termination of the bond issuance is not expected to adversely affect the company's operations or financial stability, and it does not harm the interests of shareholders, particularly minority shareholders [2][3]. - The company is currently operating normally with sufficient cash flow, indicating that the decision was made with a comprehensive understanding of its financial situation [2]. Group 4: Decision-Making Process - The independent directors unanimously agreed to terminate the bond issuance and submitted the matter to the board for approval [3]. - The board's audit committee also reviewed and approved the termination before it was presented to the full board [3]. - The board ultimately agreed to terminate the bond issuance without needing to seek shareholder approval, as the proposal had not yet been submitted for their review [3].