灵宝黄金在香港交易所发布公告称，拟发行本金为11.66亿港元（1.5亿美元）的零息可转换债券，到期 日为明年11月29日或前后。可按初始转换价每股H股17.83港元（可调整）转换为H股；较上一交易日收 盘价15.37港元溢价16%。公司拟将所得款项净额用于海外优质黄金矿业资产的并购整合、补充本公司 流动资金、偿还现有贷款。中信证券为独家全球协调人。 ...

债券可于条款及条件所载情况下按初始转换价每股H股17.83港元(可调整)转换为H股。初始转换价每股 H股17.83港元较11月24日(即签署认购协议的交易日)收市价每股H股15.37港元溢价约16.0%。假设按初 始转换价每股H股17.83港元悉数转换债券，则债券将转换为约6539.54万股H股，相当于公司于本公告日 期已发行总H股股本约5.92%及已发行总股本约5.08%。 待债券发行完成后，认购债券所得款项净额将约为11.516亿港元。公司拟使用认购所得款项作为(其中 包括)海外优质黄金矿业资产的并购整合，以及补充公司流动资金、偿还现有贷款。 格隆汇11月25日丨灵宝黄金(03330.HK)发布公告，2025年11月24日，公司及牵头经办人(即中信里昂证 券)签署认购协议，根据该协议并在达成所载若干条件的前提下，公司已同意发行，而牵头经办人同意 认购和支付(或促使认购人认购和支付)本金为11.66亿港元的债券(即11.66亿港元于2026年到期的零息可 转换债券)。 ...

灵宝黄金(03330)公布，2025年11月24日(交易时间后)，该公司及牵头经办人签署认购协议，该公司将发 行本金为11.66亿港元的于2026年到期的零息可转换债券，初始转换价为每股H股17.83港元，较于2025 年11月24日在香港联交所所报最后收市价每股H股15.37港元溢价约16.0%。待债券发行完成后，认购债 券所得款项净额约11.516亿港元，拟用于海外优质黄金矿业资产的并购整合，以及补充公司流动资金、 偿还现有贷款。 ...

Core Viewpoint - Tim Hortons China has signed a final agreement to issue approximately $89.9 million in secured convertible bonds, while also amending the terms of its existing unsecured convertible bonds due in 2024 [1][3][4]. Group 1: Bond Issuance Details - The new secured convertible bonds will mature in September 2029 and will be backed by a 100% equity pledge of TH Hong Kong International Limited and a full asset mortgage of Tim Hortons China [3][4]. - The conversion price for the new secured bonds is set at 110% of the volume-weighted average price (VWAP) of the company's shares over the five trading days prior to the signing date [4]. Group 2: Existing Bond Amendments - Tim Hortons Restaurants International GmbH and Cartesian Capital Group have agreed to extend the maturity date of their unsecured convertible bonds from June 2027 to September 2029, aligning the conversion price with that of the new secured bonds [4]. Group 3: Transaction Approval and Timeline - The transaction has been approved by the company's board and is expected to be completed in the fourth quarter of 2025, subject to customary closing conditions, including regulatory approvals in China [4].

Core Viewpoint - The company,希教国际控股, announced that no unallocated rights shares were successfully placed to any subscribers by the deadline of September 15, 2025, resulting in no net proceeds available for distribution to non-participating shareholders [1] Summary by Relevant Sections - **Rights Issue Results** - A total of 444,792,885 rights shares will be issued, representing 64.9% of the total rights shares offered for subscription [1] - **Funds Raised** - The total amount raised from the rights issue, including unallocated arrangements, is approximately HKD 89 million, with a net amount of approximately HKD 87.4 million after deducting all related expenses [1] - **Use of Proceeds** - The net proceeds are intended to fulfill the company's payment obligations related to outstanding convertible bonds [1]

Core Viewpoint - The company, Ocean Group (03377), announced the issuance of a total of 19.116 million shares as a result of the conversion of zero-coupon mandatory convertible bonds from Group B, C, and D, which are due in 2027, on September 23, 2025 [1] Summary by Relevant Sections - **Company Actions** - Ocean Group will issue 19.116 million shares based on the conversion of zero-coupon mandatory convertible bonds [1]

Core Viewpoint - China Pacific Insurance (601601) plans to issue HKD 15.556 billion in convertible bonds, which can be converted into H-shares under specified terms and conditions [1] Summary by Relevant Sections Convertible Bonds Issuance - The company intends to issue HKD 15.556 billion in convertible bonds [1] - The initial conversion price is set at HKD 39.04 per H-share, subject to adjustments [1] Conversion Details - If the bonds are fully converted at the initial conversion price, they will convert into approximately 398 million shares [1] - This represents about 14.36% of the company's existing issued H-shares and 4.14% of the total issued share capital as of the announcement date [1] - After full conversion, the new shares would account for approximately 12.55% of the enlarged issued H-shares and 3.98% of the total issued share capital, assuming no other changes to the company's share capital [1]

Group 1 - The core viewpoint of the news highlights the performance and characteristics of Luwei Optical's convertible bonds, which have seen a price increase and a notable premium rate [1] - Luwei Optical has a credit rating of "AA-" for its convertible bonds, with a total maturity of 6 years and a structured interest rate that increases over time [1] - The convertible bond can be converted into common stock at a price of 32.7 yuan starting from December 17, 2025, indicating a strategic financial instrument for investors [1] Group 2 - Luwei Optical has focused on the research, production, and sales of photomasks, serving industries such as flat panel displays, semiconductors, touch screens, and circuit boards [2] - The company is the only domestic manufacturer capable of producing photomasks for all generations from G2.5 to G11, which positions it uniquely in the market [2] - For the first half of 2025, Luwei Optical reported a revenue of 544 million yuan, a year-on-year increase of 37.48%, and a net profit of 106.4 million yuan, reflecting a growth of 29.13% [2] - The concentration of shareholding is high, with the top ten shareholders holding 55.11% of the shares, indicating a strong control over the company [2]

Company Overview - Yongxi Electronics Co., Ltd. was established in November 2017 and listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board in November 2022, with stock code 688362 [2] - The company specializes in integrated circuit packaging and testing solutions, focusing on mid-to-high-end packaging and advanced packaging technologies [2] - The first phase of the factory covers an area of approximately 126 acres with a total investment of about 4.5 billion yuan, producing various mid-to-high-end advanced packaging products [2] - The second phase will cover 500 acres with a total investment of 11.1 billion yuan, focusing on advanced wafer-level packaging technologies [2] Financial Performance - For the first half of 2025, Yongxi Electronics achieved operating revenue of 2.0103 billion yuan, a year-on-year increase of 23.37% [2] - The net profit attributable to shareholders was 30.3191 million yuan, representing a year-on-year increase of 150.45% [2] - The non-recurring net profit was -43.2 million yuan, showing a year-on-year decline of 177.14% [2] Shareholder Structure - As of June 2025, the concentration of shares is relatively high, with the top ten shareholders holding a combined 52.69% of shares [2] - The top ten circulating shareholders account for 35.19% of shares [2] - The number of shareholders is approximately 16,750, with an average circulating shareholding of 16,700 shares and an average holding amount of 497,300 yuan [2] Convertible Bond Details - On August 29, the Yongxi convertible bond fell by 2.0% to 172.068 yuan per bond, with a trading volume of 123 million yuan and a conversion premium of 33.01% [1] - The bond has a credit rating of "A+" and a maturity of 6 years, with a coupon rate starting at 0.20% in the first year and increasing to 2.50% in the sixth year [1] - The conversion price is set at 28.39 yuan, with the conversion period starting on January 2, 2026 [1]

Group 1 - The core viewpoint of the news is the performance and characteristics of the convertible bond issued by Alliance Electronics, which has seen a price increase and notable trading activity [1] - The convertible bond has a credit rating of "A" and a maturity of 6 years, with a coupon rate that increases over the years, starting from 0.20% in the first year to 2.50% in the sixth year [1] - The conversion price for the bond is set at 20.94 yuan, with the conversion period starting on March 18, 2024 [1] Group 2 - For the first half of 2025, Alliance Electronics reported a revenue of 119.8 million yuan, reflecting a year-on-year increase of 49.74% [2] - The net profit attributable to shareholders for the same period was -37.1 million yuan, showing a year-on-year increase of 13.72% [2] - The concentration of shareholding is high, with the top ten shareholders holding a combined 49.06% of the shares, and the average holding amount per shareholder is 1.0681 million yuan [2]