Evergreen Technology(SH:603125) Zheng Quan Zhi Xing·2025-09-03 12:19Core Viewpoint - Jiangsu Evergreen New Material Technology Incorporated Company plans to issue convertible bonds totaling up to RMB 800 million to unspecified investors, with the funds primarily allocated for the Taizhou Polymer New Material Production Base project [2][14]. Summary by Sections Issuance Overview - The company intends to issue no more than 8 million convertible bonds, each with a face value of RMB 100, at par value [3]. - The bonds will have a duration of six years from the issuance date [3]. - The interest rate will be determined based on market conditions and company specifics, with annual interest payments [4][3]. Financial Information - As of June 30, 2025, the company reported total assets of approximately RMB 2.53 billion, with total liabilities of about RMB 170 million [15][16]. - The company’s net profit for the first half of 2025 was approximately RMB 70.25 million, with a revenue of around RMB 484.57 million [16]. Use of Proceeds - The total investment for the Taizhou project is estimated at RMB 285.49 million, with the bond proceeds expected to cover RMB 80 million of this amount [14]. - If the net proceeds from the bond issuance are insufficient, the company will use self-raised funds to cover the shortfall [14]. Rights and Obligations of Bondholders - Bondholders will have the right to convert their bonds into shares after a six-month period from issuance [4]. - The company will redeem the bonds at 108% of the face value upon maturity if they remain unconverted [11]. - Bondholders can exercise a put option under certain conditions, including significant changes in the company's project implementation [9][10]. Regulatory Compliance - The bond issuance is subject to approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission [14]. - The company has established a special account for the proceeds from the bond issuance to ensure proper management and usage of the funds [13].