Core Viewpoint - Ningxia Xiaoming Agricultural and Animal Husbandry Co., Ltd. has issued convertible bonds totaling RMB 329 million, approved by the China Securities Regulatory Commission, to fund its main business projects [2][3][6]. Group 1: Bond Issuance Overview - The bonds, named Xiaoming Convertible Bonds (code: 123189), were issued at a face value of RMB 100 each, with a total fundraising amount of RMB 329 million [2][3]. - The bonds will pay interest annually, with the first interest payment starting from the issuance date [4][5]. - The initial conversion price for the bonds is set at RMB 19.43 per share, based on the average trading price of the company's stock prior to the announcement [6][12]. Group 2: Fund Utilization - The net proceeds from the bond issuance will be used entirely for the company's main business-related investment projects, as approved by the shareholders [5][6]. - The specific projects funded by the bond proceeds include the Red Temple Fort Smart Agriculture Industry Demonstration Park [5][6]. Group 3: Corporate Governance Changes - The company plans to cancel its supervisory board, transferring its responsibilities to the audit committee of the board of directors, in line with the new Company Law [13][14]. - This change aims to enhance corporate governance and operational efficiency, and it has been approved by the company's board and supervisory board [13][14]. Group 4: Ongoing Monitoring and Management - Huaxi Securities, as the bond trustee, will continuously monitor significant matters affecting bondholders' rights and interests [2][14]. - The company has committed to ensuring the safety of the principal and interest payments of the bonds, with no adverse impact on its operational capabilities [13][14].

| 宁夏晓鸣农牧股份有限公司 | | | 2025 | 年半年度报告摘要 | | | --- | --- | --- | --- | --- | --- | | 证券代码：300967 | | 证券简称：晓鸣股份 | | 公告编号：2025-117 | | | 债券代码：123189 债券简称：晓鸣转债 | | | | | | | 宁夏晓鸣农牧股份有限公司 | | | | | | | | | | | 宁夏晓鸣农牧股份有限公司 2025 | 年半年度报 | | 告摘要 | | | | | | | 一、重要提示 | | | | | | | 本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投 | | | | | | | 资者应当到证监 | | | | | | | 会指定媒体仔细阅读半年度报告全文。 | | | | | | | 所有董事均已出席了审议本报告的董事会会议。 | | | | | | | 非标准审计意见提示 | | | | | | | □适用 ?不适用 | | | | | | | 董事会审议的报告期利润分配预案或公积金转增股本预案 | | | | | | | □适用 ...

Core Viewpoint - The report outlines the issuance of convertible bonds by Ningxia Xiaoming Agricultural and Animal Husbandry Co., Ltd., detailing the bond's approval, issuance amount, and management of bondholder rights [3][4][19]. Group 1: Bond Issuance Details - The company has been approved by the China Securities Regulatory Commission to issue convertible bonds totaling RMB 329 million, with a face value of RMB 100 per bond [3][4]. - The bonds are to be issued to unspecified investors, with the funds intended for the company's main business investment projects [5][6][19]. - The initial conversion price for the bonds is set at RMB 19.43 per share, based on the average trading price of the company's stock prior to the announcement [7][19]. Group 2: Bondholder Rights and Management - The bondholders will receive annual interest payments, with the first payment occurring within five trading days after the interest record date [5][11]. - The bond includes provisions for price adjustments based on corporate actions such as stock dividends or capital increases, ensuring fair treatment of bondholders [9][10][19]. - The bondholders have the right to sell their bonds back to the company under certain conditions, such as significant changes in the use of raised funds [12][19]. Group 3: Shareholder Changes - Significant shareholders, including Xiamen Chentou and its affiliates, have announced plans to reduce their holdings by up to 3% of the total share capital within three months [13][19]. - The election of a new employee representative director to the board has been completed, with no significant impact on the company's operations or debt repayment capabilities [17][19]. - The company has maintained normal operational status despite the changes in shareholder structure [19].

Core Points - The China Securities Convertible Bond Index decreased by 0.03%, closing at 428.92 points [1] - The Wind Convertible Bond Equal-weighted Index fell by 0.41%, ending at 204.01 points [1] Performance Summary - The top gainers in convertible bonds included Zhongqi Convertible Bond, Liming Convertible Bond, Jingzhuang Convertible Bond, Xiaoming Convertible Bond, and Hangyang Convertible Bond, with increases of 8.24%, 6.49%, 4.82%, 3.52%, and 3.30% respectively [1] - The largest decliners were Zhengyu Convertible Bond, Yanggu Convertible Bond, Fuxin Convertible Bond, Henghui Convertible Bond, and Jingda Convertible Bond, with decreases of 5.35%, 5.33%, 4.69%, 4.51%, and 4.34% respectively [1]

Core Points - The company, Ningxia Xiaoming Agricultural and Animal Husbandry Co., Ltd., has issued convertible bonds totaling RMB 329 million, approved by the China Securities Regulatory Commission [2][3][20] - The initial conversion price for the bonds is set at RMB 19.43 per share, with adjustments based on company actions such as stock dividends and capital increases [7][15][18] - The bondholders will receive annual interest payments, with the first payment calculated based on the bond's face value and interest rate [4][11] Bond Issuance Details - The bonds are issued at a face value of RMB 100 each, with a total fundraising amount of RMB 329 million [3][7] - The funds raised will be used for the company's main business investment projects, as approved by the shareholders [5][20] - The bonds will have a credit rating of A+ and will be traded publicly [3][20] Interest and Payment Terms - The bonds will pay interest annually, with the first interest payment calculated from the issuance date [4][11] - The interest rate will increase over the bond's term, starting at 1.10% in the third year and reaching 3.00% by the sixth year [4][11] Conversion and Redemption Terms - Bondholders can convert their bonds into shares, with the conversion price subject to adjustments based on corporate actions [7][15][18] - The company has the right to redeem the bonds at 113% of the face value if certain conditions are met, such as the stock price exceeding 130% of the conversion price for a specified period [11][12] Profit Distribution - The company has approved a profit distribution plan, providing a cash dividend of RMB 2.00 per 10 shares, with adjustments made for any changes in total share capital due to bond conversions [14][15][20] - The total cash dividend is estimated at RMB 37.13 million, which will be adjusted based on the number of shares outstanding after bond conversions [14][19] Impact on Company Operations - The profit distribution and bond conversion will not significantly impact the company's cash flow or operational capabilities [20] - The company will continue to monitor the bondholders' interests and ensure compliance with relevant regulations [20]

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Key Points - The company, Ningxia Xiaoming Agricultural and Animal Husbandry Co., Ltd., announced the interest payment for its convertible bonds, "Xiaoming Convertible Bonds," for the year 2025, with an interest rate of 0.50% [1][5] - The interest payment will be made on April 7, 2025, for the period from April 6, 2024, to April 5, 2025, with a total interest of 5.00 RMB for every 10 bonds held (including tax) [1][5] - The bonds have a total issuance amount of 3.29 billion RMB (32.9 million bonds) and were listed on the Shenzhen Stock Exchange on April 25, 2023 [4][5] - The bonds have a conversion period from October 12, 2023, to April 5, 2029, allowing bondholders to convert their bonds into company shares [1][4] - The company will not pay interest for the current and future interest periods to bondholders who convert their bonds into shares before April 3, 2025 [1][6] - The interest income tax for individual bondholders will be withheld at a rate of 20%, resulting in a net interest of 4.00 RMB for every 10 bonds [5][6] - For qualified foreign institutional investors (QFII and RQFII), the interest income is exempt from corporate income tax and value-added tax, allowing them to receive the full interest of 5.00 RMB for every 10 bonds [5][7] - The bonds are rated A by a credit rating agency, with a stable outlook, indicating a solid creditworthiness of the company [5]