Core Viewpoint - Guangfa Securities (01776) announced that its major shareholder, Liaoning Chengda Co., Ltd., has completed the issuance of the second phase of non-public exchangeable bonds aimed at professional institutional investors, with a total issuance scale of RMB 1 billion [1] Group 1 - The exchangeable bonds are named "25 Chengda E2" with a bond code of "117247" [1] - The bonds have a maturity period of 3 years and a coupon rate of 0.01% [1] - The initial conversion price is set at RMB 24.58 per share [1] Group 2 - The conversion period for the bonds will start from the first trading day after 6 months from the issuance date and will last until the day before the bond's maturity, specifically from June 30, 2026, to December 28, 2028 [1] - If the start date of the conversion period falls on a public holiday or weekend, it will be postponed to the next trading day [1]