Core Viewpoint - The report outlines the issuance of convertible bonds by Dazhong Mining Co., Ltd., detailing the bond's terms, the company's financial performance, and the management of the raised funds. Group 1: Bond Overview - The issuer is Dazhong Mining Co., Ltd., which changed its name from Inner Mongolia Dazhong Mining Co., Ltd. on July 31, 2024 [2]. - The total amount raised from the issuance of convertible bonds is RMB 1.52 billion, with each bond having a face value of RMB 100 [3][4]. - The bonds have a six-year term, with a fixed interest rate that increases annually from 0.30% in the first year to 2.00% in the sixth year [3][4]. Group 2: Financial Performance - In 2024, the company produced 3.7666 million tons of iron concentrate and 1.0501 million tons of pellets, generating total revenue of RMB 3.843 billion [20]. - The net profit for the year was RMB 751 million, with earnings per share of RMB 0.51 [20]. - The company's total assets increased by 9.67% year-on-year, reaching RMB 15.42 billion by the end of 2024 [21]. Group 3: Fund Utilization - The raised funds are allocated to various projects, including RMB 243.93 million for the iron selection technology transformation project and RMB 462.65 million for the intelligent mining mechanization upgrade project [18][24]. - The company plans to adjust the use of remaining funds to implement a lithium carbonate project, reflecting a strategic shift towards the lithium mining sector [24]. - As of December 31, 2024, the company had an unused balance of RMB 728.36 million from the raised funds [24]. Group 4: Management and Oversight - The trustee, Guodu Securities, has established a monitoring mechanism to oversee the issuer's credit status and the use of raised funds [19]. - The trustee has ensured compliance with the bond issuance regulations and has reported on the issuer's significant events and financial obligations [19][20].