Zhong Guo Jing Ji Wang·2025-09-12 03:11Core Viewpoint - The Shanghai Stock Exchange's Listing Review Committee has approved Hefei Qizhong Technology Co., Ltd.'s refinancing plan, confirming it meets the issuance, listing, and information disclosure requirements [1] Group 1: Meeting Outcomes - The 35th review meeting of the Shanghai Stock Exchange's Listing Review Committee took place on September 11, 2025 [1] - Hefei Qizhong Technology's refinancing plan was found to comply with necessary conditions [1] Group 2: Key Questions Raised - The committee inquired about the technical differences, market share, and future demand for gold bump and copper-nickel bump products, questioning their substitutability and market potential [2] - Questions were raised regarding the reasonableness of the new capacity from the advanced power and flip-chip packaging technology renovation project, including market demand and existing capacity utilization [2] Group 3: Fundraising Details - Hefei Qizhong Technology plans to issue convertible bonds with a total fundraising amount not exceeding 850 million yuan, with net proceeds allocated to specific projects [3] - The projects include a high-footprint micro-sized bump packaging and testing project, and a technology renovation project for advanced power and flip-chip packaging [3][4] Group 4: Convertible Bond Specifications - The convertible bonds will be issued at a face value of 100 yuan each, with a maturity of six years from the issuance date [4] - The total number of bonds to be issued will not exceed 8.5 million [4] - The bonds will have an annual interest payment structure, with the option for holders to convert to shares after a six-month period [5] Group 5: Priority Subscription and Ratings - Existing shareholders will have priority in the subscription of the convertible bonds, with the specific ratio to be determined based on market conditions [6] - The bonds have been rated "AA+" by Dongfang Jincheng, with a stable outlook [6]