Group 1 - The company Zhejiang Southeast Space Frame Co., Ltd. issued a total of 20 million convertible bonds, each with a face value of 100 RMB, amounting to a total issuance of 2 billion RMB [1][2] - The controlling shareholder Zhejiang Southeast Space Frame Group Co., Ltd. and actual controller Mr. Guo Mingming, along with their concerted action party Hangzhou Haotian Property Management Co., Ltd., subscribed to a total of 7,657,722 bonds, accounting for 38.29% of the total issuance [2] - The bond trading began on January 24, 2024, on the Shenzhen Stock Exchange under the name "Southeast Convertible Bonds" with the code "127103" [1][2] Group 2 - Mr. Guo Mingming transferred 2,026,739 bonds, representing 10.13% of the total issuance, through block trading and centralized bidding [2] - From March 17, 2025, to July 18, 2025, a further transfer of 2,030,489 bonds occurred, accounting for 10.15% of the total issuance [2] - After the recent transfers, the holdings of the controlling shareholder and related parties decreased significantly, with the total holdings dropping from 5,630,983 bonds (28.15%) to 3,600,494 bonds (18.00%) [2]

Group 1 - The company Zhejiang Southeast Steel Structure Co., Ltd. is issuing convertible bonds totaling RMB 2 billion, with a net fundraising amount of approximately RMB 1.986 billion [2][3][18] - The bonds will be listed on the Shenzhen Stock Exchange starting January 24, 2024, under the name "Southeast Convertible Bonds" [3][18] - The bonds have a maturity of 6 years, with an annual interest rate that increases from 0.30% in the first year to 2.00% in the sixth year [3][4][18] Group 2 - The initial conversion price for the bonds is set at RMB 5.73 per share, subject to adjustments based on specific corporate actions [4][26] - The company has established a dedicated account for managing the raised funds, ensuring compliance with relevant regulations [18][19] - The company has a credit rating of AA for the bonds, indicating a stable outlook [14][23] Group 3 - The company's main business segments include steel structures, chemical fibers, and renewable energy, with a focus on engineering contracting and photovoltaic construction [16][17] - In 2024, the company reported a net profit of RMB 190.45 million, a decrease of 42.17% compared to the previous year [17] - The total revenue for 2024 was approximately RMB 11.24 billion, reflecting a decline of 13.52% from 2023 [17]

Core Viewpoint - Zhejiang Southeast Network Framework Co., Ltd. has maintained its credit rating of "AA" with a stable outlook for both the company and its convertible bonds, indicating consistent financial health and creditworthiness [1][2]. Group 1: Company Credit Rating - The company’s previous credit rating was "AA" with a stable outlook, and this rating has been reaffirmed in the latest assessment [1][2]. - The tracking rating report was issued by Shanghai New Century Credit Rating Co., Ltd. on June 19, 2025, confirming no changes in the credit rating since the last evaluation [2]. Group 2: Convertible Bonds - The convertible bonds issued by the company, referred to as "Southeast Convertible Bonds," also retained a credit rating of "AA" in the latest report [2]. - The previous rating for the Southeast Convertible Bonds was established on June 13, 2024, and has remained unchanged in the latest assessment [1][2].

Group 1 - The company, Zhejiang Southeast Steel Structure Co., Ltd., is implementing an annual equity distribution for 2024, which affects the convertible bonds [1] - The convertible bonds (code: 127103; name: Southeast Convertible Bonds) will be suspended from conversion starting May 16, 2025, until the equity distribution registration date [1] - Conversion of the Southeast Convertible Bonds will resume on the first trading day after the equity distribution registration date, which is May 23, 2025 [1] Group 2 - The company assures that the information disclosed is true, accurate, and complete, with no false records or misleading statements [1] - The announcement regarding the suspension and resumption of bond conversion will be published in various financial newspapers and on the company's official information platform [1]

Core Viewpoint - Zhejiang Southeast Steel Structure Co., Ltd. has announced a cash dividend distribution plan, with a payout of RMB 0.70 per 10 shares, which has been approved by the shareholders' meeting [2][4][5] Trading Information Summary - On May 16, 2025, the stock closed at RMB 4.3, up 1.65%, with a turnover rate of 2.34%, trading volume of 244,400 shares, and a transaction amount of RMB 106 million [1] - The net inflow of funds from major investors was RMB 8.84 million, while retail investors saw a net outflow of RMB 17.71 million [2][5] Company Announcement Summary - The annual equity distribution plan for 2024 has been approved, with a cash dividend of RMB 0.70 per 10 shares (tax included), and no bonus shares or capital reserve transfers [2][4] - The total number of shares for the dividend distribution is 1,115,517,130, resulting in a total cash dividend of approximately RMB 78.09 million (tax included) [4] - The ex-dividend date is set for May 23, 2025, with the record date being May 22, 2025 [3] Convertible Bond Information - The company is issuing convertible bonds with a total amount of RMB 2 billion, with a face value of RMB 100 per bond, and a term of 6 years [4] - The initial conversion price for the bonds is set at RMB 5.73 per share, which will be adjusted to RMB 5.60 per share effective from May 23, 2025 [3][5]

Core Viewpoint - The report outlines the issuance of convertible bonds by Zhejiang Southeast Network Framework Co., Ltd., detailing the terms, conditions, and management responsibilities associated with the bond issuance [3][4][13]. Group 1: Bond Issuance Details - The company has received approval from the China Securities Regulatory Commission to issue convertible bonds, with a total issuance of 20 million bonds at a face value of 100 RMB each, amounting to a total of 2 billion RMB [3][4]. - The net proceeds from the bond issuance, after deducting related fees, amount to approximately 1.986 billion RMB [4]. - The bonds will be listed on the Shenzhen Stock Exchange and have a maturity period of 6 years, with interest rates increasing from 0.30% in the first year to 2.00% in the sixth year [5][6]. Group 2: Conversion and Redemption Terms - The initial conversion price for the bonds is set at 5.73 RMB per share, with provisions for adjustments based on various corporate actions [7][9]. - Holders of the convertible bonds can convert their bonds into shares starting from July 9, 2024, until the maturity date [7]. - The company has the right to redeem the bonds at 108% of the face value after maturity, and under certain conditions, can redeem them during the conversion period if the stock price exceeds 130% of the conversion price [10][11]. Group 3: Profit Distribution and Financial Health - The company plans to distribute a cash dividend of 0.70 RMB per share based on the total share capital, with an estimated total cash dividend of approximately 78.09 million RMB for the year 2024 [14]. - The bond issuance and profit distribution plans comply with relevant regulations and are deemed legal and reasonable [14][15].

Group 1 - The company Zhejiang Southeast Steel Structure Co., Ltd. has received approval from the China Securities Regulatory Commission to issue 20 million convertible bonds at a face value of 100 RMB each, totaling 2 billion RMB [1] - The adjustment of the conversion price for the convertible bonds will occur under specific circumstances such as stock dividends, capital increases, and cash dividends, following a defined formula [2][3] - The conversion price for the "Southeast Convertible Bonds" has been adjusted from 5.73 RMB/share to 5.63 RMB/share, effective from May 30, 2024 [2][3] Group 2 - The conversion price will be further adjusted to 5.67 RMB/share, effective from November 12, 2024, following the completion of share repurchase and cancellation [3] - The company will implement its 2024 annual equity distribution plan on May 22, 2025, with a cash dividend of 0.07 RMB per share, leading to a new conversion price of 5.60 RMB/share [4] - The adjusted conversion price will take effect from the ex-dividend date of May 23, 2025 [4]

Group 1 - The company has announced its 2024 annual profit distribution plan, which was approved at the shareholders' meeting on May 13, 2025 [1] - The distribution plan involves a cash dividend of RMB 0.70 per 10 shares for all shareholders, with specific tax considerations for different types of investors [1][2] - The record date for the distribution is set for May 22, 2025, and the ex-dividend date is May 23, 2025 [1][2] Group 2 - The distribution will be directly credited to shareholders' accounts through their custodial securities companies on the ex-dividend date [2] - The conversion price for the company's convertible bonds (code: 127103) will be adjusted from RMB 5.67 to RMB 5.60 per share, effective from May 23, 2025 [2] - The company will bear all legal responsibilities for any issues arising from insufficient cash dividends due to a decrease in shareholders' account shares during the application period [2]

Group 1 - The core viewpoint of the news is the performance and characteristics of the Southeast Convertible Bond, which has seen a price increase and has a specific conversion rate and terms [1] - The Southeast Convertible Bond has a credit rating of "AA" and a maturity period of 6 years, with a coupon rate that increases annually from 0.30% to 2.00% [1] - The conversion price for the bond is set at 5.67 yuan, with the conversion period starting on July 9, 2024 [1] Group 2 - Zhejiang Southeast Network Framework Co., Ltd. is a large diversified high-tech enterprise group established in 1984, primarily focused on building steel structures and involved in various sectors including health, new materials, trade, and investment [2] - The company has been recognized as one of China's top 500 private enterprises and has received numerous awards for quality and excellence in construction [2] - For the period from January to September 2024, the company reported a revenue of 9.0899 billion yuan, a year-on-year decrease of 7.5%, and a net profit attributable to shareholders of 163.3 million yuan, down 40.24% year-on-year [2] - The shareholder structure of the company is highly dispersed, with 52,600 shareholders and an average holding of 19,840 shares per person, amounting to an average investment of 85,100 yuan [2]