Group 1 - The company has signed a loan guarantee contract with a syndicate of banks to provide a joint liability guarantee for its subsidiary, Wuzhou Special Paper (Jiangxi), for a loan amount not exceeding 150,000 million yuan [2][12] - The collateral for the loan includes land located in the high-tech industrial park in Hukou County, ensuring that the company's daily operations remain stable and that the guarantee does not adversely affect the interests of the company or its shareholders, especially minority shareholders [2][7] - The total amount of external guarantees provided by the company and its subsidiaries is 840,225.60 million yuan, which accounts for 237.94% of the company's latest audited net assets attributable to shareholders [8] Group 2 - The company has approved a guarantee limit of up to 7 billion yuan for the year 2025, which includes various forms of guarantees such as credit guarantees, mortgage guarantees, and performance guarantees [3] - The guarantee period for the loan contract is set to three years from the effective date of the guarantee contract, extending to three years after any debt extension or early maturity declaration by the lender [5][6] - The company maintains effective control over the operational risks and decisions of its wholly-owned subsidiary, ensuring that the guarantee is necessary and reasonable for supporting its normal production operations [7] Group 3 - The company will pay interest on its convertible bonds on December 8, 2025, with a coupon rate of 1.50% for the fourth year, resulting in a payment of 1.50 yuan per bond [23][18] - The convertible bonds were issued on December 8, 2021, with a total issuance amount of 670 million yuan and a maturity period of six years [19][15] - The initial conversion price for the bonds was set at 18.50 yuan per share, with the latest conversion price adjusted to 13.65 yuan per share [12][15]

Key Points - The company will start paying interest on its convertible bonds, "特纸转债," from December 8, 2025, for the period from December 8, 2024, to December 7, 2025 [2][12] - The total issuance amount of the convertible bonds is RMB 670 million, with 6.7 million bonds issued at a face value of RMB 100 each [2][3] - The bond has a six-year term, from December 8, 2021, to December 7, 2027 [3] - The interest rates for the bonds increase annually, starting from 0.30% in the first year to 2.00% in the sixth year [4] - The annual interest payment will be made once a year, with the first payment scheduled for December 8, 2025, and the interest amount per bond will be RMB 1.50 (including tax) [4][12] - The bond's initial conversion price is RMB 18.50 per share, with the latest conversion price adjusted to RMB 13.65 per share [8] - The company's credit rating is "AA" with a stable outlook, and the bonds also hold an "AA" rating [9][10] - The company has provided a guarantee for its subsidiary, 五洲特纸（江西）, for a loan not exceeding RMB 150 million, ensuring it does not exceed the approved guarantee limit [19][20] - The total amount of guarantees provided by the company and its subsidiaries is RMB 840.23 million, which is 237.94% of the latest audited net assets attributable to shareholders [24]

Core Points - Wuzhou Special Paper announced that its convertible bonds issued on December 8, 2021, will start paying interest from December 8, 2024, to December 7, 2025 [1] - The bond interest record date is December 5, 2025, with the ex-dividend date and payment date both set for December 8, 2025 [1] - The interest payment amount is 1.50 yuan per 100 yuan of bonds (including tax) [1]

New Stock Issuance - The stock code 300277 (海联讯) has a subscription period for acquisition rights from November 12 to November 18, 2025[1] - Stock code 603388 (*ST元成) reported severe abnormal fluctuations[1] - Stock code 002478 (常宝股份) announced a significant event with a value of 23[1] Trading Alerts - Stock code 601061 (中信金属) has a trading alert issued on November 8, 2025[1] - Stock code 600078 (澄星股份) has a trading alert issued on November 8, 2025[1] - Stock code 601179 (中国西电) has a trading alert issued on November 8, 2025[1] Abnormal Fluctuations - Stock code 000892 (欢瑞世纪) reported abnormal fluctuations on November 4, 2025[1] - Stock code 603876 (鼎胜新材) reported abnormal fluctuations on November 4, 2025[1] - Stock code 603595 (ST东尼) reported abnormal fluctuations on November 5, 2025[1]

Core Points - Wuzhou Special Paper announced the repurchase and cancellation of part of the restricted stock incentive plan for 2023, necessitating an adjustment to the conversion price of "Special Paper Convertible Bonds" [2] - The conversion price was adjusted from 13.63 yuan per share to 13.65 yuan per share, effective from November 11, 2025 [2]

Group 1 - The company plans to distribute a cash dividend of 0.25 yuan per share (tax included) to all shareholders as part of the 2024 annual profit distribution plan, amounting to a total of 119,225,170.25 yuan (tax included) based on a total share capital of 476,900,681 shares as of March 31, 2025, which represents 32.95% of the net profit attributable to shareholders of the listed company for the year [1][2][3] - The rights distribution plan was approved at the company's annual general meeting held on May 6, 2025, with further details disclosed on the Shanghai Stock Exchange website [2] - The convertible bonds will stop conversion from May 22, 2025, until the rights distribution registration date, with the resumption of conversion on the first trading day after the registration date [2][3] Group 2 - The company will adjust the conversion price of the convertible bonds in accordance with the terms outlined in the prospectus following the implementation of the rights distribution plan [2] - Shareholders wishing to enjoy the rights distribution must convert their bonds before May 21, 2025 [3]

Group 1 - The China Securities Convertible Bond Index opened flat at 421.92 points [1] - The top gainers in convertible bonds include Oton Convertible Bond, Zhongqi Convertible Bond, Fenggong Convertible Bond, Dongshi Convertible Bond, and Aofei Convertible Bond, with increases of 4.36%, 3.51%, 3.11%, 2.16%, and 2.07% respectively [1] - The top losers in convertible bonds include Shengxun Convertible Bond, Polaroid Convertible Bond, Yitian Convertible Bond, Tezhi Convertible Bond, and Hongqiang Convertible Bond, with decreases of 5.91%, 1.42%, 1.29%, 0.69%, and 0.65% respectively [1]

Group 1 - The core viewpoint of the article highlights significant corporate actions, including shareholding changes and financial performance warnings for specific companies [1] Group 2 - JiaLian Technology's shareholders plan to reduce their holdings by no more than 3% of the company's shares [1] - ShengXun Co. reported a negative net profit and operating income below 300 million, leading to a delisting risk warning, with a resumption of trading on May 6 [1] - ST TianChuang has removed the delisting risk warning as of May 6 [1] - The convertible bonds mentioned (TeZhi, Tian23, JiaYuan, JingGong) will not undergo adjustments [1]