Evergreen Technology(SH:603125) Zheng Quan Zhi Xing·2025-09-03 12:19Core Viewpoint - Jiangsu Changqing Tree New Materials Technology Co., Ltd. plans to issue convertible bonds to unspecified objects, analyzing the impact on immediate returns and proposing measures to mitigate this dilution [1][2][3]. Financial Impact Analysis - The company estimates the impact of the convertible bond issuance on key financial metrics under different scenarios, including scenarios where net profit remains flat, grows by 10%, or grows by 20% [3][5]. - The total share capital will increase from 404,836,375 shares to 448,624,004.99 shares if all bonds are converted [2][5]. - The diluted earnings per share (EPS) will decrease from 0.50 to 0.48 under the flat profit scenario, while it will be 0.55 and 0.61 under the 10% growth scenario, and 0.61 and 0.73 under the 20% growth scenario [5]. Fundraising Purpose and Necessity - The total amount to be raised from the issuance of convertible bonds is not to exceed RMB 285,489.86 million, with the funds primarily allocated to projects aimed at optimizing product structure and enhancing core competitiveness [7][8]. - The investment projects are expected to extend existing product lines and improve the company's capabilities in the specialty polymer materials sector [8][9]. Company Preparedness - The company has a stable and efficient management and technical team with extensive experience in the specialty polymer materials sector, ensuring the successful implementation of the fundraising projects [9][10]. - The company has made significant technological advancements and established a strong market presence, which will support the successful execution of the fundraising projects [10]. Measures to Mitigate Dilution - The company has committed to several measures to mitigate the dilution of immediate returns, including strict management of the use of raised funds, proactive project implementation, and enhancing market competitiveness [11][12]. - A detailed management plan for the use of raised funds has been established to ensure compliance and protect investor interests, particularly for small and medium investors [11][12]. Commitment from Major Stakeholders - The controlling shareholders and actual controllers of the company have made commitments to ensure the effectiveness of the measures to mitigate the dilution of immediate returns [12][13]. - The board of directors and senior management have also pledged to fulfill their responsibilities and protect the interests of all shareholders [13][14].