Key Points - The company, Wenzhou Hongfeng Electrical Alloy Co., Ltd., issued convertible bonds totaling RMB 321.26 million, with a net amount of RMB 315.06 million after deducting issuance costs [1][9][10] - The bonds have a maturity of six years, with an annual interest rate that increases from 0.5% in the first year to 3.0% in the sixth year [1][3] - The initial conversion price for the bonds is set at RMB 6.92 per share, with provisions for adjustments based on various corporate actions [3][4][5] - The funds raised will be used for projects including the production of high-end precision hard alloy rods, with a total investment of RMB 359.03 million [9][12] - The company reported a net loss of RMB 73.67 million for 2024, a significant decline compared to the previous year's profit, attributed to high costs and ongoing project developments [10][11] - The company has established special accounts for the management of the raised funds, ensuring proper oversight and usage [11][12] - The credit rating for the bonds has been maintained at level A, with a stable outlook, as assessed by Zhongzheng Pengyuan Credit Rating Co., Ltd. [9][10]