Core Viewpoint - The major shareholder, Zijin Mining Investment (Shanghai) Co., Ltd., plans to issue non-publicly offered exchangeable bonds backed by a portion of its A-shares in Anhui Jiangnan Chemical Co., Ltd. [1] Group 1: Shareholder Information - Zijin Mining Investment holds 180,000,000 A-shares, representing 69.20% of its total holdings and 6.80% of the company's total share capital [1]. - The shares pledged are not subject to any major asset restructuring or performance compensation obligations [1]. Group 2: Pledge Registration - The pledge registration was completed with the China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, on September 3, 2025 [1]. - The pledged shares serve as collateral for the exchangeable bonds, ensuring the timely repayment of principal and interest to bondholders [1]. Group 3: Cumulative Pledge Situation - As of the announcement date, Zijin Mining Investment and its concerted actions have a total of 534,166,752 shares pledged, accounting for 20.17% of their total holdings [2]. - The newly pledged shares amount to 180,000,000, which is 33.70% of the total shares pledged [2].

证券代码：002226 证券简称：江南化工 公告编号:2025-049 安徽江南化工股份有限公司 关于持股 5%以上股东拟非公开发行可交换公司债券获得 深圳证券交易所无异议函的公告 特此公告。 安徽江南化工股份有限公司董事会 安徽江南化工股份有限公司（以下简称"公司"或"本公司"）于2025年8 月26日收到持股5%以上股东紫金矿业投资（上海）有限公司（"紫金投资"）的 书面通知，紫金投资拟以其（及其一致行动人紫金矿业紫南（厦门）投资合伙企 业（有限合伙））持有的本公司部分A股股票为标的非公开发行可交换公司债券 （以下简称"本次可交换债券"）已获得深圳证券交易所《关于紫金矿业投资（上 海）有限公司非公开发行可交换公司债券符合深交所挂牌条件的无异议函》（深 证函〔2025〕817号，以下简称"《无异议函》"）。 根据《无异议函》，紫金投资本次非公开发行可交换公司债券发行面值不超 过7亿元人民币。《无异议函》有效期为自出具之日起12个月，在《无异议函》 有效期内，紫金投资将根据自身资金安排和市场情况，择机分期发行、部分发行 或不发行本次可交换债券。 截至本公告日，紫金投资及其一致行动人紫金矿业紫南（厦门）投资合伙 ...

Group 1 - Jiangsu Guotai (002091.SZ) announced the approval of a proposal for a non-public issuance of exchangeable corporate bonds to enhance long-term development and meet funding needs [1] - The total amount of the exchangeable bonds to be issued will not exceed RMB 2.5 billion [1] - The bonds will be exchangeable for shares of Jiangsu Ruitai New Material Co., Ltd. (stock code: SZ301238) [1] Group 2 - The management conducted a thorough analysis of the financing environment, regulatory policies, and future operational plans before making the decision [1] - The issuance of the bonds is subject to approval at the shareholders' meeting [1]

（文章来源：证券日报） 证券日报网讯四川双马8月15日在互动平台回答投资者提问时表示，公司控股股东北京和谐恒源科技有 限公司基于自身经营需求，拟面向专业投资者非公开发行可交换公司债券。 ...

Group 1 - The core point of the article is that Sichuan Shuangma (000935) plans to issue exchangeable bonds to professional investors based on the operational needs of its controlling shareholder, Beijing Harmony Hengyuan Technology Co., Ltd. [1] Group 2 - The issuance of the exchangeable bonds is a non-public offering aimed at professional investors [1] - The decision is driven by the company's controlling shareholder's operational requirements [1]

证券代码：000935 证券简称：四川双马 公告编号：2025-37 四川和谐双马股份有限公司 关于控股股东非公开发行可交换公司债券办理完成 部分股份担保及信托登记的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 网（www.cninfo.com.cn）披露了《关于控股股东非公开发行可交换公司债券拟 办理部分股份担保及信托登记的公告》（公告编号：2025-36）。公司控股股东 北京和谐恒源科技有限公司（简称"和谐恒源"）拟发行期限为不超过3年（含）， 募集资金规模不超过人民币6亿元（含）的可交换公司债券。本期债券分为二个 品种，债券名称分别为北京和谐恒源科技有限公司2025年面向专业投资者非公开 发行可交换公司债券（第一期）（品种一）、北京和谐恒源科技有限公司2025 年面向专业投资者非公开发行可交换公司债券（第一期）（品种二），其中品种 一发行规模不超过4亿元（含），品种二发行规模不超过2亿元（含）。 四川和谐双马股份有限公司董事会 | | | | | | 是 | 是 | | 否 | | | | | | | --- | --- | --- | --- ...

Core Viewpoint - The implementation of the new rules for foreign institutional investors in the Shanghai Stock Exchange bond market is expected to enhance foreign investment scale and provide diverse funding sources for domestic bond issuers, promoting the long-term development of the bond market and accelerating the internationalization of the RMB [1][2]. Group 1: Implementation Details - The new rules require foreign institutional investors to appoint qualified commercial banks as custodians and domestic securities firms with membership in the Shanghai Stock Exchange as trading participants, with each securities account designated to only one trading participant [2]. - Foreign institutional investors are allowed to participate in various bond types, including exchangeable and convertible corporate bonds, asset-backed securities, bond lending, related derivatives for risk management, and bond funds, including exchange-traded bond index funds [2][3]. - Foreign institutional investors must also appoint domestic securities firms with qualifications as settlement participants to handle settlement operations [3]. Group 2: Market Impact - As of the end of May, the total custody balance of China's bond market was 139.1 trillion yuan, with foreign institutions holding 3.74 trillion yuan, accounting for 2.7% of the total [3]. - The new rules clarify the types of bonds that foreign institutional investors can engage with, particularly highlighting exchangeable and convertible corporate bonds, which are distinct from those in the interbank market, thus providing new asset allocation opportunities for foreign investors [3]. - The inclusion of bond funds in the investment scope for foreign investors is seen as a potential entry point, with index bond funds aligning with foreign investors' preferences and presenting lower entry barriers [4]. Group 3: Future Outlook - The ongoing development of the bond market's openness and the introduction of new policies are expected to continuously enhance foreign participation in the domestic bond market [4][5]. - The Shanghai Stock Exchange aims to further refine bond trading regulations to create a more favorable investment environment for both domestic and foreign investors, thereby better serving the real economy and establishing a new framework for high-quality development in the bond market [5].

Core Viewpoint - Company plans to issue no more than 300 million RMB of exchangeable bonds to enhance financing channels and optimize financing structure [1] Group 1: Issuance Details - The company will issue exchangeable bonds to professional institutional investors, subject to shareholder approval [1] - The issuance will be conducted in phases, with the specific terms to be determined based on market conditions [2] - The exchange price will be set based on the average trading price of the underlying stock over specified periods, ensuring it does not fall below certain thresholds [2] Group 2: Authorization Matters - The board of directors will seek authorization from the shareholders' meeting to allow the chairman to make decisions regarding the bond issuance, including quantity, terms, and repayment arrangements [3][4] - The authorization will remain effective until all related matters are completed [4] - The company will ensure compliance with relevant laws and regulations throughout the issuance process [3]

Group 1 - The core business revenue composition of ST Xia Chuang for the year 2024 is 89.93% from smart city and finance, and 10.07% from smart business and healthcare [1] - ST Xia Chuang announced a plan to issue non-public exchangeable bonds not exceeding 300 million RMB to professional institutional investors to optimize its financing structure [3] - The proposal for the bond issuance will be submitted for approval at the company's upcoming shareholders' meeting [3]

Group 1 - The core point of the article is that Yongxin Co., Ltd. (002014.SZ) has received a notice from its shareholder, Aorijin, regarding the proposed issuance of exchangeable bonds worth up to RMB 1.25 billion [1] - Aorijin plans to issue these bonds non-publicly, using part of its shares in Yongxin as the underlying asset [1] - The bonds will have a maturity period of no more than 3 years, and holders will have the option to exchange the bonds for Yongxin's A-shares at a predetermined price during the exchange period [1]