Summary of Key Points Core Viewpoint - Zhejiang Xinhua Chemical Co., Ltd. has reported the conversion results of its convertible bonds, indicating a low conversion rate and a significant amount of unconverted bonds remaining. Group 1: Convertible Bond Conversion Status - As of June 30, 2025, a total of RMB 145,566,000 worth of "Xinhua Convertible Bonds" has been converted into 7,185,989 shares, representing 3.87% of the total shares outstanding before conversion [1][3][4] - The amount of unconverted "Xinhua Convertible Bonds" as of June 30, 2025, is RMB 504,434,000, which accounts for 77.6052% of the total issuance [1][2] Group 2: Convertible Bond Issuance Overview - The company issued 6.5 million convertible bonds on November 28, 2022, with a total value of RMB 65 million and a maturity of 6 years [2] - The initial conversion price was set at RMB 32.41 per share, which has been adjusted to RMB 20.25 per share as of September 20, 2024, due to conditions met for downward price adjustment [2][3] Group 3: Share Capital Changes - The total share capital remains at 192,773,989 shares, with no changes due to the conversion of convertible bonds [4]

Core Viewpoint - Zhejiang Xinhua Chemical Co., Ltd. has successfully issued convertible bonds totaling RMB 65 million, with net proceeds of RMB 63.93 million after deducting issuance costs, to be used for various investment projects [2][11]. Group 1: Approval and Issuance Details - The issuance of convertible bonds was approved by the China Securities Regulatory Commission, allowing the company to issue 6.5 million bonds at a face value of RMB 100 each [2]. - The bonds were listed for trading on the Shanghai Stock Exchange starting December 16, 2022, under the name "Xinhua Convertible Bonds" [2]. - The bonds have a maximum term of 6 years, with a structured interest rate that increases from 0.3% in the first year to 3.0% in the sixth year [2][3]. Group 2: Bond Terms and Conditions - The bonds are convertible into A-shares of the company, with an initial conversion price set at RMB 32.41 per share [4][5]. - The conversion period starts six months after the issuance and lasts until November 27, 2028 [3][4]. - The bonds do not provide any guarantees and will be redeemed at 115% of the face value upon maturity [3][9]. Group 3: Use of Proceeds - The total amount raised will be allocated to specific investment projects, with a total planned investment of RMB 74.32 million [11]. - If the actual net proceeds are less than the planned investment, the company will cover the shortfall through self-funding [11]. Group 4: Credit Rating - The bonds have been rated "AA-" by China Chengxin International Credit Rating Co., Ltd., with a stable outlook [12][13]. Group 5: Profit Distribution and Adjustments - The company plans to distribute a cash dividend of RMB 4.50 per 10 shares, which will affect the conversion price of the bonds [14][15]. - The adjusted conversion price after the dividend distribution will be approximately RMB 19.81 per share, effective from June 18, 2025 [15].

Group 1 - The core point of the announcement is that Zhejiang Xinhua Chemical Co., Ltd. will stop the conversion of its convertible bonds ("Xinhua Convertible Bonds") during the period of the 2024 annual equity distribution [2][4]. - The 2024 annual profit distribution plan includes a cash dividend of 4.50 yuan (including tax) for every 10 shares based on the total share capital on the equity distribution registration date [3][4]. - The equity distribution plan was approved at the annual shareholders' meeting held on May 20, 2025, and further details were disclosed on May 21, 2025 [3][4]. Group 2 - The suspension of the conversion of "Xinhua Convertible Bonds" will take place from June 11, 2025, until the equity distribution registration date, with the conversion resuming on the first trading day after the registration date [4]. - The company will publish the implementation announcement of the equity distribution and the adjustment of the conversion price for the convertible bonds on June 12, 2025 [4].