Union Precision(SH:688210) Sou Hu Cai Jing·2025-10-14 09:23Core Viewpoint - The company Tonglian Precision (688210) has announced plans to issue convertible bonds to raise funds for a new intelligent terminal component manufacturing center and to supplement working capital, amidst a recent decline in stock price [1] Group 1: Stock Performance - As of October 14, 2025, the stock closed at 48.83 yuan, down 10.89% from the previous trading day, with a total market capitalization of 7.881 billion yuan [1] - The stock opened at 55.01 yuan, reached a high of 56.46 yuan, and a low of 48.18 yuan, with a trading volume of 5.46 billion yuan and a turnover rate of 6.59% [1] Group 2: Convertible Bond Issuance - The company plans to issue convertible bonds to unspecified investors, with the proceeds aimed at funding the intelligent manufacturing center project and enhancing liquidity [1] - The company's credit rating is "AA-", and the convertible bonds also carry the same rating with a stable outlook [1] - The issuance will not be secured, and it includes terms for conversion period, downward adjustment of conversion price, redemption, and repurchase [1] Group 3: Financial and Operational Risks - The company faces risks related to high customer concentration, exchange rate fluctuations, and macroeconomic conditions, with customer concentration rates of 74.71%, 73.31%, 71.86%, and 67.96% over the reporting periods [1] - The proportion of foreign sales revenue was 66.08%, 60.68%, 67.69%, and 72.74% during the same periods [1] - Previous fundraising projects have experienced delays and adjustments in investment structure [1]