6月24日投资提示：芳源转债信用评级下调至BBB

Group 1 - The shareholder of Borui Pharmaceutical, Advanced Manufacturing Industry Investment Fund, plans to reduce its stake by no more than 3% [1] - The shareholder of WISCO New Energy, Shenzhen Anyan, also intends to reduce its stake by no more than 3% [1] - Chuanheng Convertible Bond is subject to forced redemption [1] Group 2 - Fangyuan Convertible Bond's credit rating has been downgraded to BBB [1] - The company's focus on the ternary lithium battery market is seeing a continuous decline in market share, with intensified industry competition [1] - A significant reduction in core customer orders has led to a rapid decline in ternary precursor revenue, and new businesses such as lithium carbonate have yet to contribute to profitability [1] - The company has reported substantial losses for two consecutive years, indicating increased operational pressure [1] - The company's debt scale continues to rise, with high leverage levels and increased liquidity risks [1] Group 3 - Yao Stone Technology's associate company, Yaojie Ankang, has been listed on the main board of the Hong Kong Stock Exchange [1] - Lingkang Convertible Bond and Mingxin Convertible Bond will not undergo adjustments [1]