Shenglan Technology (SZ:300843) Zheng Quan Zhi Xing·2025-08-25 17:27Core Viewpoint - The company, Shenglan Technology Co., Ltd., is issuing convertible bonds to unspecified investors, with a total issuance amount of RMB 450 million, aiming to enhance its capital structure and provide investment opportunities for existing shareholders and the public [3][14][25]. Group 1: Issuance Details - The total amount of the convertible bonds is RMB 450 million, with an issuance of 4.5 million bonds at a face value of RMB 100 each [14][15]. - The bonds will have a term of 6 years, from August 28, 2025, to August 27, 2031, with annual interest rates starting at 0.20% in the first year and increasing to 2.30% in the sixth year [15][16]. - The initial conversion price is set at RMB 54.56 per share, which is based on the average trading price of the company's stock prior to the announcement [16][18]. Group 2: Subscription Process - Existing shareholders will have priority in subscribing to the bonds, with the subscription period starting on August 28, 2025, and they must pay the full subscription amount at that time [25][26]. - Public investors can participate in the online subscription after the priority subscription period, with a minimum subscription unit of 10 bonds (RMB 1,000) and a maximum of 10,000 bonds (RMB 1 million) [27][30]. - The subscription process includes specific rules regarding the validity of applications, with only the first application from an investor being considered valid if multiple applications are submitted [28][29]. Group 3: Underwriting and Distribution - The underwriting will be conducted by Dongguan Securities Co., Ltd., which will also take on the responsibility of covering any shortfall in subscriptions, with a base amount of RMB 45 million [7][30]. - The bonds will not have any lock-up period, allowing for immediate trading upon listing [30][31]. - The company will apply for the bonds to be listed on the Shenzhen Stock Exchange as soon as possible after the issuance [31].