HBYH(SZ:000422) Zhong Guo Jing Ji Wang·2025-10-27 07:09Core Viewpoint - Hubei Yihua (000422.SZ) announced a plan to issue convertible bonds to unspecified investors, aiming to raise up to 3.3 billion yuan for various projects and debt repayment [1][2]. Fundraising and Project Allocation - The total amount to be raised is capped at 330 million yuan, which will be allocated to the following projects: - Phosphorus and Fluorine Resource High-Value Utilization Project: Total investment of 223.33 million yuan, with 200 million yuan from the raised funds - 50,000 tons/year Dihydrogen Phosphate Project: Total investment of 42.64 million yuan, with 35 million yuan from the raised funds - Supplementing working capital and repaying debts: Total investment of 95 million yuan, with the entire amount sourced from the raised funds [2]. Convertible Bond Details - The convertible bonds will have a duration of 6 years from the issuance date, with a face value of 100 yuan per bond, issued at par [2]. - The interest rate will be determined based on national policies, market conditions, and the company's specific situation, with annual interest payments and principal repayment at maturity for unconverted bonds [2][3]. - The conversion period for the bonds will start six months after issuance and last until maturity, allowing bondholders to choose whether to convert their bonds into shares [2]. Issuance Methodology - The issuance will prioritize existing shareholders, who can choose to waive their preemptive rights. The specific allocation ratio will be determined by the board of directors based on market conditions at the time of issuance [3]. - Any remaining bonds after the preemptive rights are exercised will be offered to institutional investors and through online pricing on the Shenzhen Stock Exchange, with any unsold portion being underwritten by the lead underwriter [3]. Previous Fundraising Report - The company previously raised 1.584 billion yuan by issuing 160 million shares at a price of 9.90 yuan per share, with net proceeds of approximately 1.569 billion yuan after deducting issuance costs [4].