Core Viewpoint - Jiangsu Apac Lightweight Alloy Technology Co., Ltd. has issued convertible bonds totaling RMB 1,159 million, with a focus on funding projects related to automotive and aerospace components [3][12]. Group 1: Bond Issuance Details - The total amount of the convertible bonds issued is RMB 115,900,000, with 11,590,000 bonds at a face value of RMB 100 each [3][5]. - The net amount raised after deducting underwriting and other issuance costs is RMB 1,150,674,168.81 [3]. - The bonds have a maturity period of six years, from March 9, 2023, to March 8, 2029 [4]. Group 2: Interest and Payment Terms - The coupon rates for the bonds are structured as follows: 0.30% for the first year, 0.50% for the second year, 1.00% for the third year, 1.50% for the fourth year, 1.80% for the fifth year, and 2.00% for the sixth year [5]. - Interest payments will be made annually, and the principal will be repaid at maturity [5]. Group 3: Conversion and Redemption Terms - The initial conversion price is set at RMB 6.46 per share, subject to adjustments based on corporate actions such as stock dividends and capital increases [6][14]. - The conversion period starts six months after the issuance and lasts until the maturity date [6]. - The company has the right to redeem the bonds at 112% of the face value plus the last interest payment if certain conditions are met [9]. Group 4: Use of Proceeds - The funds raised will be allocated to several projects, including the production of high-strength aluminum components for new energy vehicles and high-performance aluminum profiles for automotive applications, with total investments of RMB 148 million [12][23]. - Specific projects include a production capacity of 200,000 sets of automotive components and 1,200 million lightweight aluminum parts [12]. Group 5: Corporate Governance and Compliance - The issuance and management of the bonds comply with relevant regulations and have been approved by the company's board and shareholders [2][3]. - The company has established a clear framework for adjusting the conversion price in response to changes in share capital and other corporate actions [13][14].

Core Viewpoint - The company has completed the repurchase and cancellation of 3.57 million restricted stocks as part of its first stock option and restricted stock incentive plan, which represents 0.285% of the total share capital before the repurchase [1][7]. Summary by Sections Incentive Plan and Approval Process - The company held board and supervisory meetings on September 26, 2023, to approve the incentive plan and related management measures [1]. - A public notice regarding the incentive objects was conducted from September 28 to October 7, 2023, with no objections received [1]. - The third extraordinary general meeting of shareholders on October 16, 2023, approved the incentive plan and authorized the board to handle related matters [1]. Repurchase and Cancellation of Restricted Stocks - The repurchase of 3.57 million restricted stocks was due to the failure to meet performance targets set for the second release period of the incentive plan [5][8]. - The repurchase price was set at 2.235 yuan per share, adjusted for any dividends received by the incentive objects [6][8]. - The total repurchase amount was 7,978,952.14 yuan [1]. Impact on Share Capital - Following the repurchase, the company's total share capital decreased from 1,251,700,032 shares to 1,248,413,917 shares [7]. - The structure of share capital was detailed, showing a slight decrease in restricted shares and an increase in unrestricted shares [7]. Adjustment of Convertible Bond Conversion Price - The conversion price of the company's convertible bonds was adjusted from 5.38 yuan per share to 5.39 yuan per share due to the repurchase of restricted stocks [8]. - The adjustment will take effect on July 22, 2025 [8].

Group 1 - The company issued a total of 11.59 million convertible bonds, raising a total of 1.159 billion yuan, with a net amount of approximately 1.14967 billion yuan after deducting underwriting fees [1][2] - The convertible bonds were listed on the Shenzhen Stock Exchange on April 27, 2023, under the code 127082 and the name "亚科转债" [2] - The conversion period for the bonds is from September 15, 2023, to March 8, 2029 [2] Group 2 - The initial conversion price was adjusted from 6.46 yuan per share to 6.22 yuan per share on May 26, 2023, and further adjusted to 5.74 yuan per share on May 30, 2024, and finally to 5.58 yuan per share [2][3] - As of the first quarter of 2025, the total number of shares before the conversion was 1,251,516,591, with 1,397 shares added through the conversion process, resulting in a total of 1,251,517,988 shares [3] - The proportion of restricted shares remained relatively stable, with a slight decrease in the percentage of restricted shares from 30.55% to 30.54% after the conversion [3]