Group 1 - The core point of the article is that Zhejiang Huhangyou is planning to issue A-shares to all shareholders of Zhenyang Development for a stock swap merger, with relevant agreements signed and approval from the Zhejiang Provincial State-owned Assets Supervision and Administration Commission obtained [1] - The arrangement for "Zhenyang Convertible Bonds" has been approved by the bondholders' meeting, allowing holders to dispose of them according to regulations [1] - Zhongjin Pengyuan believes that the transaction still carries uncertainties and has decided to maintain the company's主体 and "Zhenyang Convertible Bonds" credit rating at AA- with a stable outlook, effective until the maturity of the "Zhenyang Convertible Bonds," and will closely monitor the restructuring progress [1]