大禹节水集团股份有限公司 关于大禹转债转股数额累计达到转股前公司已发行股份总额 10%的 公告 本公司及其董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 特别提示： 简称"公司"）发行的可转换公司债券（以下简称"可转债"）"大禹转债"累 证券代码：300021 证券简称：大禹节水 公告编号：2025－107 债券代码：123063 债券简称：大禹转债 计 转 股 数 量 为 83,274,601 股 ， 占 可 转 债 开 始 转 股 前 公 司 已 发 行 股 份 总 额 禹转债"未转股，占可转债发行总量6,380,000张的51.73%。 一、可转换公司债券基本情况 （一）可转债发行上市情况 经中国证券监督管理委员会（以下简称"中国证监会"） "证监许可[2020]1245 号"文核准，公司于2020年7月28日公开发行了638万张可转换公司债券，每张面 值100元，发行总额6.38亿元，期限6年。 经深圳证券交易所（以下简称"深交所"）"深证上[2020]733号"文同意， 公司6.38亿元可转换公司债券于2020年8月20日起在深交所挂牌交易，债券简称 "大禹转 ...

Group 1: Banking Sector - The banking sector has shown significant performance since mid-March, driven by public fund reforms that enhance pricing power for the sector [1] - The recent issuance of the "Action Plan for Promoting High-Quality Development of Public Funds" by the CSRC marks a milestone reform, which may lead to increased allocation towards previously underweighted stocks, benefiting banks [1] - The banking sector is expected to see marginal improvement in fundamentals from Q2 2025 compared to Q1 2025, primarily due to alleviated pressure on non-interest income growth [1] Group 2: Securities Sector - The securities sector is highlighted for its strong performance, with leading ETFs showing over 30% net value growth in the past year [2] - Key variables influencing the sector include liquidity and policy, with a focus on trading volume and turnover rates as indicators of monetary policy [2] - The valuation of leading brokerage firms is at historical lows, presenting a compelling investment opportunity, especially as institutional allocations are expected to increase [2] Group 3: Insurance Sector - The insurance sector is benefiting from favorable policies, including reduced costs for existing liabilities and the removal of restrictions on bank-insurance partnerships [3] - The long-term interest rate trend stabilizing is advantageous for the asset side of insurance companies, while the net benefit value (NBV) on the liability side is expected to maintain an upward trend [3] - The insurance sector's valuation is currently at the 30%-40% percentile over the past five years, indicating significant room for recovery as performance growth continues [3]

Group 1: Asset Replacement and Risk Management - The asset replacement process requires further verification and negotiation, with no final determination on asset scope or pricing yet [1] - There is a possibility of adjustments, suspension, or cancellation of the transaction plan, highlighting the need for investors to be aware of risks [1] Group 2: Convertible Bonds Strategy - The company is closely monitoring the high premium rate of its convertible bonds and will manage market conditions to enhance shareholder value [1] - Plans are in place to ensure adequate funding for bond repayments to mitigate default risks [1] Group 3: Raw Material Price Volatility Management - The company is enhancing its analysis of raw material supply and demand, developing procurement models to optimize purchasing timing [2] - Strategic partnerships are being strengthened to secure domestic raw material sources and improve procurement cost advantages [2] - Efforts are being made to optimize the structure of raw materials and reduce production costs, thereby minimizing the impact of price fluctuations [2] Group 4: Development in Mid-to-High-End Market - A technical service team has been established to support new product development through direct engagement with key regions and enterprises [2] - Collaborations with universities and research institutes are being intensified to facilitate early involvement in new product and technology development [2] - Strategic resources from Ansteel Group are being leveraged to enter new fields and industries for product innovation [2]

Core Viewpoint - Qilu Bank's convertible bonds ("Qilu Convertible Bonds") are approaching redemption, with the last trading day set for August 8, 2025, following a significant increase in conversion speed after the announcement of forced redemption [1][2]. Group 1: Convertible Bonds and Capital Strength - The conversion of Qilu Convertible Bonds is a crucial external channel for supplementing core Tier 1 capital, enhancing the bank's capital strength and risk resilience [3]. - As of June 30, the cumulative conversion amount of Qilu Convertible Bonds reached 2.661 billion yuan, with a conversion rate of approximately 33.26%, significantly up from 17.44% at the end of the first quarter [4]. - Following the forced redemption trigger, the unconverted balance of Qilu Convertible Bonds decreased to 2.027 billion yuan by July 22, indicating a conversion rate nearing 75% [4]. Group 2: Financial Performance and Growth Potential - In 2024, Qilu Bank achieved an operating income of 12.496 billion yuan, a year-on-year increase of 4.55%, and a net profit of 4.986 billion yuan, up 17.77%, ranking among the top in its peer group [7]. - The bank's total assets surpassed 700 billion yuan, reaching 716.397 billion yuan, with a non-performing loan ratio of 1.17% and a provision coverage ratio of 324.06%, indicating improved asset quality [8]. - Qilu Bank's focus on county-level finance and innovation in financial services is expected to further enhance its market share and long-term growth potential [6]. Group 3: Market Position and Future Outlook - Qilu Bank is recognized as a leading city commercial bank in Shandong, with a growing presence in Tianjin, Henan, and Hebei, and has expanded its branches to 194 [7]. - The bank's strategic initiatives in technology and green finance have led to significant growth in loans to technology enterprises and green projects, with respective increases of 46.64% and 38.93% year-on-year [7]. - Qilu Bank's ranking in the "Top 300 Global Banks" by the British magazine "The Banker" reflects its strengthening comprehensive strength and market position [8].

Core Viewpoint - The article highlights the strong performance of Changshu Bank in the first half of 2025, with significant growth in both revenue and net profit, indicating resilience in its financial performance [2][3]. Financial Performance - In the first half of 2025, Changshu Bank achieved an operating income of 6.06 billion yuan, a year-on-year increase of 10.1%, and a net profit attributable to shareholders of 1.97 billion yuan, up 13.5% year-on-year [2]. - The weighted average return on equity (ROAE) was 13.3%, reflecting a slight increase of 0.05 percentage points year-on-year [2]. Revenue and Profit Growth - The revenue and net profit growth rates for the first half of 2025 were 10.1% and 13.5%, respectively, with slight changes from the first quarter [3]. - In the second quarter of 2025, the revenue and net profit growth rates were 10.2% and 13.2%, showing stability in performance [3]. Asset and Loan Growth - As of the end of the second quarter of 2025, the total assets and loan growth rates were 9.2% and 5.2%, respectively, with a slight increase in asset growth compared to the previous quarter [5]. - The bank added approximately 1.8 billion yuan in loans during the second quarter, which was a decrease of 1.9 billion yuan year-on-year [5]. Deposit Growth - The total liabilities and deposit growth rates at the end of the second quarter of 2025 were 9% and 9.9%, respectively, indicating an acceleration in deposit growth [6]. - The bank added 1.7 billion yuan in deposits during the second quarter, which was an increase of 2.5 billion yuan year-on-year [6]. Interest Margin and Cost Control - The bank is expected to see a narrowing of the interest margin decline in the second quarter due to effective cost control measures on liabilities [7]. - The bank has adjusted deposit rates multiple times this year, which is anticipated to improve the cost structure and mitigate pressure on interest margins [7]. Capital Supplementation - The bank has a 6 billion yuan convertible bond with a low conversion ratio, and the current stock price is close to the strong redemption price, indicating potential for capital supplementation [8]. - The stable double-digit growth in revenue and profit enhances the bank's internal capital replenishment capability, supporting future expansion and growth [8].

Core Points - The company announced that the cumulative number of shares converted from its convertible bonds, "Beilu Convertible Bonds," has reached 49,783,476 shares, accounting for 10.07% of the total shares issued before conversion and 9.19% of the latest total share capital [1][5] - As of the announcement date, there are still 1,503,327 "Beilu Convertible Bonds" unconverted, which represents 30.07% of the total issuance of 5,000,000 bonds [5] Convertible Bond Basic Information - The company issued a total of 500 million yuan worth of convertible bonds, which were approved by the China Securities Regulatory Commission and listed on December 11, 2020 [1] - The conversion period for the bonds started on June 11, 2021, and will last until December 6, 2026 [1] Conversion Price Adjustment - The initial conversion price was set at 11.41 yuan per share, which was later adjusted down to 8.86 yuan per share due to stock price conditions [2] - Subsequent adjustments were made to the conversion price, with the latest adjustment bringing it down to 7.02 yuan per share effective from May 19, 2025 [4][5]

Core Viewpoint - Nanjing Bank's "Nan Yin Convertible Bond" has been forcibly redeemed and converted into A-shares, leading to an increase in the bank's total share capital and enhancing its capital strength for sustainable development [1][3][7]. Summary by Sections Announcement of Redemption - On July 18, Nanjing Bank announced the strong redemption and conversion of its "Nan Yin Convertible Bond," which has been delisted from the Shanghai Stock Exchange [1]. - The total amount of "Nan Yin Convertible Bond" converted into A-shares reached 199.96 billion yuan, resulting in 2.357 billion shares being converted [2][5]. Impact on Share Capital - Following the redemption, Nanjing Bank's total share capital increased to 12.364 billion shares [6]. - The conversion accounted for 23.55% of the bank's total A-shares before the conversion [5]. Financial Implications - The high conversion rate allows Nanjing Bank to further supplement its capital, which is beneficial for long-term sustainable development despite short-term dilution of earnings per share [3][7]. - The "Nan Yin Convertible Bond" achieved a conversion rate of 99.98%, indicating strong investor confidence in the bank's stock performance [11]. Market Context - Nanjing Bank is the fourth bank this year to complete forced redemption of convertible bonds, following Chengdu Bank, Suzhou Bank, and Hangzhou Bank [9]. - The overall market for bank convertible bonds is expected to reduce to seven after the completion of the redemption of "Qi Lu Convertible Bond" [10]. Stock Performance - Nanjing Bank's stock price has seen significant growth, with a 57.96% increase in 2024 and a 12.86% increase in 2025 as of July 18 [13]. - The banking sector has shown strong performance, with several banks experiencing notable stock price increases [14].

Core Viewpoint - Hangzhou Bank reported its first half of 2025 earnings forecast, showing revenue growth of 3.9% and net profit growth of 16.7%, despite a slight decline in return on equity (ROE) due to dilution from convertible bond conversions [2][3][5]. Financial Performance - For the first half of 2025, Hangzhou Bank achieved revenue of 20.093 billion yuan, up 3.9% from 19.34 billion yuan in the same period of 2024 [4]. - The net profit attributable to shareholders was 11.662 billion yuan, reflecting a 16.7% increase from 9.996 billion yuan year-on-year [4]. - Total assets reached 2.24 trillion yuan, a 12.6% increase, with loans amounting to 1.01 trillion yuan, also up 12% [4][5]. - The weighted average ROE was 9.5%, down 0.24 percentage points compared to the previous year [4][5]. Loan and Asset Growth - Hangzhou Bank's loan growth rate significantly outpaced the national average, with a 12% increase compared to the central bank's reported 7.1% growth in RMB loans [4][5]. - The bank's lending is concentrated in the economically developed Yangtze River Delta region, with corporate loans making up 63.6% of total loans, particularly in infrastructure-related sectors [4]. Impact of Convertible Bonds - The completion of the convertible bond conversion resulted in 14.994 billion yuan worth of bonds being converted into shares, diluting ROE but enhancing core tier 1 capital adequacy ratio [6]. - The core tier 1 capital adequacy ratio was projected to increase by 0.7 percentage points to 9.8% following the conversion [6]. Shareholder Actions - China Life Insurance announced plans to reduce its stake in Hangzhou Bank by 0.7%, raising concerns about the bank's stock valuation [7][8]. - The stock price of Hangzhou Bank has increased by 15.1% in the first half of 2025, contributing to a total rise of 79.6% since last year [7]. - The exit of Australia and New Zealand Banking Group, a long-term shareholder, further indicates shifts in shareholder composition [8].

Core Points - The announcement details the suspension of the conversion of "Weir Convertible Bonds" due to the implementation of the 2024 annual equity distribution by Haowei Integrated Circuit (Group) Co., Ltd [1] - The company will distribute a cash dividend of 2.20 yuan (including tax) for every 10 shares, with a total expected cash dividend of approximately 263.99 million yuan (including tax) [1] - The suspension of the bond conversion will occur from July 25, 2025, until the equity registration date, with resumption on the first trading day after the registration [1] Group 1 - The company will announce the implementation of the equity distribution and the adjustment of the convertible bond conversion price on July 26, 2025 [1] - Holders of the convertible bonds can convert their bonds until July 24, 2025, to enjoy the equity distribution [1] - The equity distribution plan will be adjusted if there are changes in the company's total share capital before the distribution [1]

Core Viewpoint - The announcement details a passive dilution of the actual controller's shareholding in Diou Home Group due to the conversion of convertible bonds, resulting in a decrease from 27.96% to 26.61% without changing the actual control of the company [1][2][3]. Group 1: Shareholding Changes - The actual controller Zhu Jiang and his concerted actors (Chengdu Shuihua Zhiyun Technology Co., Ltd., Zhang Zhi Huan) experienced a passive dilution of their combined shareholding from 27.96% to 26.61% due to the increase in total share capital from the conversion of "Diou Convertible Bonds" [1][2]. - The shareholding change occurred on July 15, 2025, and the dilution touched the 1% integer threshold as per regulatory requirements [2][3]. - The total number of shares held by Zhu Jiang and his concerted actors remained unchanged, but their percentage ownership decreased due to the increase in total shares [1][3]. Group 2: Regulatory Compliance - The announcement complies with the provisions of the "Measures for the Administration of Acquisitions of Listed Companies" and relevant legal opinions regarding shareholding changes [1][2]. - The passive dilution does not lead to a change in the actual controller of the company, ensuring that the governance structure and ongoing operations remain unaffected [1][4].