Zheng Quan Zhi Xing·2025-08-29 17:25Core Viewpoint - Qingdao Guanzhong Ecological Co., Ltd. is issuing convertible bonds totaling RMB 400 million to fund various ecological projects and enhance operational efficiency [2][11][24]. Group 1: Bond Issuance Details - The total amount of the convertible bonds issued is RMB 400 million, with a face value of RMB 100 per bond, and a total of 4 million bonds will be issued [2][11]. - The bonds have a term of 6 years, from July 21, 2023, to July 20, 2029, with interest rates starting at 0.40% in the first year and increasing to 3.00% in the sixth year [2][3]. - The initial conversion price is set at RMB 16.56 per share, with the current conversion price at RMB 10.44 per share [4][5]. Group 2: Project Funding Allocation - The funds raised will be allocated to projects including ecological restoration and urban water supply enhancement, with a total project investment of RMB 63.97 million [11][12]. - The company plans to terminate the "Zibo Sibaoshan Ecological Construction Comprehensive Governance Project" due to market changes and will redirect the remaining funds to the "Boshan Urban Water Supply Improvement Project" [12][24]. - The remaining funds of RMB 24.53 million will be permanently allocated to working capital, representing 6.27% of the net amount raised [13][24]. Group 3: Project Implementation and Market Context - The "Boshan Urban Water Supply Improvement Project" is expected to enhance water supply infrastructure, aligning with national policies aimed at improving rural water supply security [20][21]. - The project is supported by local government initiatives and is part of a broader strategy to modernize water supply systems in response to urbanization and climate challenges [20][21]. - The company has established a solid technical foundation and quality control system, enhancing its capability to manage large-scale projects effectively [21][22].