Core Viewpoint - JunDa Co., Ltd. (钧达股份) is experiencing significant stock price declines in both A-shares and H-shares, with H-shares hitting a new low since its listing, indicating potential market concerns about the company's performance and valuation [1][2]. Group 1: Stock Performance - JunDa's A-shares closed at 40.60 CNY, down 3.38%, while H-shares reached a low of 19.70 HKD, down 3.42%, indicating a state of underperformance [1]. - The H-shares are currently trading below the issue price, reflecting a loss of investor confidence [1]. Group 2: Initial Public Offering (IPO) Details - JunDa's H-shares were listed on May 8, 2025, with a final offer price of 22.15 HKD, raising a total of 1,405.03 million HKD, netting 1,291.67 million HKD after expenses [2]. - The company previously went public on April 25, 2017, with an A-share issuance price of 9.05 CNY, raising a total of 27.15 million CNY, netting 22.34 million CNY after costs [2]. Group 3: Recent Fundraising Activities - As of May 30, 2023, JunDa raised 2,776 million CNY through a specific issuance of shares, with the funds fully deposited in a designated account [4]. - The issuance involved 27,760,000 shares at a price of 100.00 CNY per share, resulting in a net fundraising amount of approximately 2,738 million CNY after deducting issuance costs [4].

Core Viewpoint - Shengde Xintai (300881.SZ) plans to issue convertible bonds to raise up to RMB 440 million for the construction of advanced high-nickel seamless pipe manufacturing project [1] Group 1: Convertible Bond Issuance - The company intends to issue convertible bonds with a face value of RMB 100 each, with a term of six years [1] - The net proceeds from the bond issuance will be used for the advanced high-nickel seamless pipe manufacturing project [1] - The bonds will be convertible into A-shares listed on the Shenzhen Stock Exchange's ChiNext board [1] Group 2: Issuance Details - The specific issuance method will be determined by the board of directors in consultation with the lead underwriter [2] - The bonds will be offered to various investors, including individuals and institutions with accounts at the China Securities Depository and Clearing Corporation [2] Group 3: Shareholder Actions - The bond issuance plan is valid for twelve months from the date of approval by the shareholders' meeting [3] - The controlling shareholder and actual controllers have completed a share reduction plan, selling a total of 1,087,800 shares for approximately RMB 34.21 million [3] Group 4: Company Background - Shengde Xintai was listed on the ChiNext board on September 1, 2020, raising a total of RMB 354 million for various projects [4] - The company’s major shareholders include Zhou Wenqing and his family, holding significant stakes in the company [4]

本周板块表现：上周（2025/09/15-2025/09/19）5个交易日，SW机械设备指数上涨 2.23%，在申万31个一级行业分类中排名第5；同期沪深300指数下跌0.44%。2025年至今表 现：SW机械设备指数上涨36.11%，在申万31个一级行业分类中排名第5；同期沪深300指数 上涨14.41%。 核心观点 国金证券近日发布机械行业研究周报：本周板块表现：上周（2025/09/15-2025/09/19）5 个交易日，SW机械设备指数上涨2.23%，在申万31个一级行业分类中排名第5；同期沪深 300指数下跌0.44%。2025年至今表现：SW机械设备指数上涨36.11%，在申万31个一级行业 分类中排名第5；同期沪深300指数上涨14.41%。 应流股份拟发行可转债布局叶片、机匣加工涂层，有望贡献长期收入增量。根据应流股 份公告，公司拟向不特定对象发行可转债不超过15亿元，募集资金将用于投资叶片机匣加工 涂层项目、先进核能材料及关键零部件智能化升级项目，以及补充流动资金及偿还银行贷款 等。目前，在叶片、机匣加工涂层产品的试生产方面，公司已引进部分深加工工序试生产设 备，并完成对应产品的试制，已达 ...

Core Viewpoint - 瑞丰银行的股价在近期有所下跌，当前市值为105.17亿人民币，位于农商行板块的第9位 [1] Shareholder Changes - 绍兴安途汽车于9月16日通过集中竞价减持瑞丰银行股份4,088,300股，占总股本的0.21%，减持后持股比例降至5.89% [2] Institutional Research Highlights - 逾期贷款率上升主要由于个人贷款逾期增加，风险总体可控，不会显著影响不良贷款率的稳定 [3] - 2025年上半年净息差为1.46%，同比下降4个基点，预计下半年将边际企稳 [3] - 贷款主要投向“三农”、民营小微及实体经济，预计四季度信贷需求将因传统产业旺季而增长 [3][4] Capital Adequacy and Debt Issuance - 2025年半年度资本充足率为14.11%，可转债发行正在上交所审核，预计将有效补充核心一级资本 [4][5] Bond Investment Strategy - 截至2025年6月末，债权投资规模为305.42亿元，其他债权投资为355.15亿元，交易性金融资产为101.40亿元 [5]

人民财讯9月18日电，华翔股份（603112）9月18日公告，拟向不特定对象发行可转换为公司A股股票的 可转换公司债券，募集资金总额不超过13.08亿元(含本数)，扣除发行费用后募集资金净额拟用于核心零 部件产能提升及产业链延伸项目、智能家居零部件产能提升项目、汽车零部件产能提升项目、工程机械 零部件产能升级项目、补充流动资金及偿还债务。 ...

Core Viewpoint - The stock price of Kobot Technology Co., Ltd. experienced an abnormal fluctuation, with a cumulative increase of over 20% in closing prices over three consecutive trading days, indicating significant market activity [1] Group 1: Company Operations - The company confirmed that its operations are normal and there have been no major adjustments in the market environment or industry policies [1] - Kobot Technology is in the process of acquiring a 60% stake in Shanghai Kobot Intelligent Technology Co., Ltd., which is expected to be included in the consolidated financial statements in 2025 [1] Group 2: Financial Activities - The company is planning to issue convertible bonds to unspecified investors, which is still in the preliminary stage and carries significant uncertainty [1] - The actual controller's plan for share reduction has not yet been implemented, and there were no stock trading activities by related personnel during the period of abnormal fluctuation [1] Group 3: Investor Advisory - The company advises investors to be cautious of trading risks and to refer to announcements made through designated media for accurate information [1]

Core Viewpoint - The company has received approval for its public offering of convertible bonds, indicating a positive outlook for its financing efforts [1] Group 1: Financing Details - The company plans to issue convertible bonds with a total fundraising amount not exceeding 1 billion yuan, which will be allocated for system upgrades and working capital [1] - The credit rating for the company and the convertible bonds has been rated at AA- by Zhongceng Pengyuan, with a stable outlook [1] Group 2: Project Utilization - The raised funds will be used for the renovation and upgrade of high-frequency and high-speed connection systems, as well as smart energy connection systems [1]

Core Viewpoint - The company Ruikeda (688800.SH) has received approval from the Shanghai Stock Exchange's Listing Review Committee for its application to issue convertible bonds to unspecified investors, pending further approval from the China Securities Regulatory Commission (CSRC) [1][3]. Group 1: Convertible Bond Issuance - The company plans to issue convertible bonds with a total fundraising amount not exceeding 100 million yuan, which will be allocated to projects including the upgrade of high-frequency and high-speed connection systems and smart energy connection systems, as well as to supplement working capital [3][4]. - The total investment for the high-frequency and high-speed connection system upgrade project is approximately 66.91 million yuan, while the smart energy connection system upgrade project is estimated at 27.92 million yuan [4]. - The bonds will be convertible into the company's A-shares and will be listed on the Sci-Tech Innovation Board of the Shanghai Stock Exchange [4]. Group 2: Shareholder Rights and Management - Existing shareholders will have priority in the subscription of the convertible bonds, with the specific allocation ratio to be determined by the board of directors based on market conditions [5]. - The controlling shareholder and actual controller of the company is Wu Shijun, who holds a combined 29.46% stake in the company as of March 31, 2025 [6].

Core Viewpoint - Huichuangda (300909.SZ) announced a plan to issue convertible bonds to unspecified investors, aiming to raise up to 650.4142 million RMB for projects related to CCS for power and energy storage batteries and to supplement working capital [1][2]. Group 1: Convertible Bond Issuance - The total amount to be raised from the issuance of convertible bonds is capped at 650.4142 million RMB, which will be allocated entirely to the CCS and connector projects and working capital [1][2]. - Each convertible bond will have a face value of 100.00 RMB and will be issued at face value, with a maturity period of six years from the date of issuance [2][3]. - The interest rate for the convertible bonds will be determined by the board of directors based on market conditions and company specifics, with annual interest payments [2][3]. Group 2: Project Funding Allocation - The investment total for the CCS and connector project is 500.4142 million RMB, with the entire amount sourced from the raised funds [2]. - An additional 150 million RMB will be allocated to supplement working capital [2]. Group 3: Company Background and Previous Issuances - Huichuangda was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on November 18, 2020, with an initial public offering that raised 745.9525 million RMB [4]. - The company has previously engaged in asset acquisition through share issuance, purchasing 100% equity of Xinwei Xing for 400 million RMB [4]. - As of September 11, 2023, the company confirmed that all funds raised from previous share issuances had been fully received [6].

Core Points - Jingda Co., Ltd. announced progress regarding the issuance of convertible bonds to unspecified objects on September 16, 2025 [1] - On June 30, 2025, the company received an inquiry letter from the Shanghai Stock Exchange regarding its application for the issuance of convertible bonds [1] - The company, along with relevant intermediaries, conducted thorough research on the issues raised and disclosed responses on August 6, 2025 [1] - Further updates to the inquiry response were disclosed on September 16, 2025, including the half-year financial data [1] - The issuance of convertible bonds is subject to approval from the Shanghai Stock Exchange and registration by the China Securities Regulatory Commission, introducing uncertainty regarding the approval timeline [1] - The company will fulfill its information disclosure obligations based on the progress of the matter and reminds investors to be aware of investment risks [1]