Summary of Key Points Core Viewpoint - The announcement details the conversion results of the company's convertible bonds, indicating minimal conversion activity and a significant amount of unconverted bonds. Group 1: Convertible Bond Conversion Status - As of June 30, 2025, a total of 70,000 yuan of "Mingxin Convertible Bonds" has been converted into company shares, resulting in 2,836 shares, which represents 0.0017% of the total shares outstanding before conversion [1][2] - The amount of unconverted convertible bonds as of June 30, 2025, is 672,930,000 yuan, accounting for 99.9896% of the total issuance [3] Group 2: Convertible Bond Issuance Overview - The company issued 673,000,000 yuan of convertible bonds on March 30, 2022, with a maturity of 6 years and a face value of 100 yuan per bond, with varying interest rates over the years [1] - The bonds were approved by the China Securities Regulatory Commission and began trading on April 25, 2022, under the name "Mingxin Convertible Bonds" [1] Group 3: Conversion Price Adjustments - The initial conversion price was set at 24.81 yuan per share, with adjustments made due to cash dividend distributions, reducing the price to 24.51 yuan and then to 24.41 yuan [2]

Group 1 - The core viewpoint of the announcement is that the credit rating for Mingxin Xuteng New Materials Co., Ltd.'s convertible bonds remains unchanged at "AA-" with a stable outlook [1][2] - The previous credit rating for both the convertible bonds and the company was "AA-" with a stable outlook, indicating consistency in the company's financial health [1] - The credit rating agency, Zhongzheng Pengyuan, conducted a comprehensive analysis of the company's operational status and industry conditions before issuing the latest rating report [1]

Group 1 - The shareholder of Borui Pharmaceutical, Advanced Manufacturing Industry Investment Fund, plans to reduce its stake by no more than 3% [1] - The shareholder of WISCO New Energy, Shenzhen Anyan, also intends to reduce its stake by no more than 3% [1] - Chuanheng Convertible Bond is subject to forced redemption [1] Group 2 - Fangyuan Convertible Bond's credit rating has been downgraded to BBB [1] - The company's focus on the ternary lithium battery market is seeing a continuous decline in market share, with intensified industry competition [1] - A significant reduction in core customer orders has led to a rapid decline in ternary precursor revenue, and new businesses such as lithium carbonate have yet to contribute to profitability [1] - The company has reported substantial losses for two consecutive years, indicating increased operational pressure [1] - The company's debt scale continues to rise, with high leverage levels and increased liquidity risks [1] Group 3 - Yao Stone Technology's associate company, Yaojie Ankang, has been listed on the main board of the Hong Kong Stock Exchange [1] - Lingkang Convertible Bond and Mingxin Convertible Bond will not undergo adjustments [1]

Group 1 - The first meeting of the 2025 Employee Stock Ownership Plan (ESOP) was held on June 13, 2025, with 69 holders present, representing 1,002,792 shares, which accounted for 100% of the voting rights [2][3] - The establishment of the 2025 ESOP Management Committee was approved to ensure the smooth implementation of the plan and protect the rights of the holders [3] - The election of committee members, including Wang Ming, Zou Cheng, and Zhu Xinghui, was approved, with their term aligned with the duration of the ESOP [4] Group 2 - The Management Committee was authorized to handle various matters related to the ESOP, including convening meetings, managing daily operations, and representing holders in exercising shareholder rights [5][6] - The company announced that from May 31 to June 16, 2025, its A-share stock price had closed below 85% of the current conversion price of 24.41 yuan per share for ten trading days [9][14] - If the stock price continues to remain below this threshold for five out of the next twenty trading days, it may trigger a downward adjustment of the conversion price for the "Mingxin Convertible Bonds" [9][14]