TBEA(SH:600089) Shang Hai Zheng Quan Bao·2025-09-19 19:27Core Viewpoint - The company has approved a plan to issue convertible bonds to unspecified investors, which aims to enhance its financial position and support future growth initiatives [1][3][21]. Group 1: Board Meeting Resolutions - The company held its ninth temporary board meeting on September 19, 2025, where all 11 attending directors voted in favor of the proposal to issue convertible bonds [1][2]. - The proposal for the issuance of convertible bonds has been reviewed and approved by the company's fifth independent director meeting [3][6]. - The board also approved a report analyzing the issuance plan, which outlines the rationale and expected impacts of the bond issuance [4][6]. Group 2: Financial Impact and Measures - The company plans to issue up to 800 million yuan in convertible bonds, with the initial conversion price set at 13.88 yuan per share [23][24]. - The issuance is expected to have a dilutive effect on immediate returns, but the company has committed to measures to mitigate this impact, including improving operational efficiency and governance [30][39]. - The company has outlined specific commitments from its directors and major shareholders to ensure the effectiveness of the measures aimed at protecting shareholder interests [43][48]. Group 3: Project Justification and Market Position - The funds raised from the bond issuance will be used for projects closely related to the company's core business, particularly in the coal sector, which is a significant revenue source [30][31]. - The company has established a strong market position in the coal industry, leveraging its resources and expertise to enhance profitability and competitiveness [31][38]. - The projects funded by the bond issuance are expected to contribute significantly to the company's future growth and market presence [31][40].