Core Viewpoint - The company is adjusting the conversion price of its convertible bonds ("甬金转债") due to the implementation of its 2025 semi-annual profit distribution plan, which includes a cash dividend of 0.30 yuan per share [4][14]. Group 1: Convertible Bond Issuance and Adjustments - The company issued 10 million convertible bonds with a total value of 1 billion yuan, with an initial conversion price of 53.07 yuan per share [2][3]. - The conversion price has been adjusted multiple times due to various profit distribution plans, with the latest adjustment setting the price at 26.74 yuan per share effective from September 23, 2025 [4][10]. Group 2: Profit Distribution Plan - The profit distribution plan for the first half of 2025 was approved, with a cash dividend of 3 yuan for every 10 shares held, effective from the registration date [17][19]. - The total number of shares eligible for distribution is 363,608,984 after excluding shares held in the company's repurchase account [17][18]. Group 3: Tax Implications - For individual shareholders holding shares for over one year, the cash dividend is exempt from personal income tax, while those holding for less than one year will have tax implications based on their holding period [21][22]. - The company will withhold a 10% corporate income tax for qualified foreign institutional investors (QFII), resulting in a net cash dividend of 0.27 yuan per share for them [22].

Core Viewpoint - The China Convertible Bond Index opened higher by 0.05%, indicating a positive market sentiment towards convertible bonds [1] Summary by Category Market Performance - Jinji Convertible Bond and Jinling Convertible Bond both increased by over 3% [1] - Yongjin Convertible Bond and Saili Convertible Bond also rose by 3% [1] - Zhengyu Convertible Bond fell by nearly 2% [1] - Tianyang Convertible Bond and Linuo Convertible Bond decreased by over 1% [1]

Core Viewpoint - The credit rating for Yongjin Technology Group Co., Ltd. remains unchanged at "AA-" for both the company and its convertible bonds, with a stable outlook [1][2]. Group 1: Credit Ratings - Previous bond rating was "AA-" and the issuer rating was also "AA-", with a stable outlook [1]. - The current bond rating is "AA-" and the issuer rating is "AA-", with a stable outlook, indicating no change from the previous assessment [2]. - The rating agency responsible for the assessment is Shanghai New Century Credit Rating Co., Ltd. [2]. Group 2: Reporting and Compliance - The company has complied with the relevant regulations, including the "Measures for the Administration of Securities Issuance Registration by Listed Companies" and the "Shanghai Stock Exchange Stock Listing Rules" [1]. - The credit rating report was issued on June 5, 2025, and is available on the Shanghai Stock Exchange website [2].

Core Points - The company announced an adjustment to the conversion price of its convertible bonds "Yongjin Convertible Bonds" due to the implementation of the 2024 annual equity distribution [1][7] - The adjusted conversion price will decrease from 27.54 CNY/share to 27.04 CNY/share, effective from June 5, 2025 [2][7] Summary by Sections Convertible Bond Issuance Overview - The company issued 10 million convertible bonds with a total value of 1 billion CNY on December 13, 2021, with a maturity of 6 years and a tiered interest rate [2] - The bonds were approved by the China Securities Regulatory Commission and began trading on December 31, 2021 [2] Historical Adjustments to Conversion Price - The conversion price was adjusted multiple times due to various equity distributions and profit allocation decisions: - From 53.07 CNY/share to 36.05 CNY/share on May 20, 2022 [2] - From 36.05 CNY/share to 35.00 CNY/share on April 6, 2023 [3] - From 35.00 CNY/share to 34.50 CNY/share on July 7, 2023 [3] - From 34.50 CNY/share to 34.57 CNY/share on July 26, 2023 [3] - From 34.57 CNY/share to 27.66 CNY/share on August 17, 2023 [4] - From 27.66 CNY/share to 27.98 CNY/share on March 18, 2024 [5] - From 27.98 CNY/share to 27.48 CNY/share on June 5, 2024 [5] Basis for Conversion Price Adjustment - The adjustment of the conversion price is in accordance with the company's prospectus, which stipulates that the conversion price will be adjusted in the event of cash dividends, stock distributions, or other equity changes [6] - The formula used for the adjustment is P1 = P0 - D, where P0 is the previous conversion price and D is the cash dividend per share [6][7]

Group 1 - The controlling shareholder of Jingwang Electronics plans to reduce its stake by no more than 3% [1] - Jiemai Technology's subsidiary has signed a strategic cooperation framework agreement with a solid-state battery manufacturer [1] - Pulitui's stock and convertible bonds have been delisted [1] Group 2 - Guocheng Mining's credit rating for its convertible bonds has been downgraded to A+ by United Credit [1] - Several convertible bonds, including Xiangjia, Fangyuan, Wentai, Yongjin, Leizhi, and Wenke, will not undergo adjustments [1]

Group 1 - The company will suspend the conversion of "Yongjin Convertible Bonds" from May 28, 2025, until the equity distribution registration date due to the implementation of the 2024 equity distribution plan [1][2] - The 2024 profit distribution plan includes a cash dividend of 5 yuan (including tax) for every 10 shares held, with the remaining undistributed profits carried forward to future distributions [1][2] - The company will adjust the conversion price of "Yongjin Convertible Bonds" according to the issuance terms and relevant regulations after the implementation of the equity distribution plan [2] Group 2 - The company will disclose the equity distribution implementation announcement on May 29, 2025, on the Shanghai Stock Exchange website and designated information disclosure media [2] - Holders of convertible bonds wishing to enjoy the equity distribution must convert their bonds before May 28, 2025 [2] - The company’s contact information for inquiries includes a phone number and email address [2]

Summary of Key Points Core Viewpoint - The company has issued convertible bonds and adjusted the conversion price multiple times due to various corporate actions and market conditions, reflecting its ongoing financial strategies and shareholder value considerations [1][2][3][4][5][6]. Convertible Bond Issuance Overview - The company issued 10 million convertible bonds with a total value of 1 billion yuan, maturing in 6 years with a tiered interest rate starting from 0.30% in the first year to 3.00% in the sixth year [1]. Conversion Price Adjustments - The initial conversion price was set at 53.07 yuan per share, which was adjusted to 36.05 yuan following a profit distribution plan [2]. - Further adjustments were made, bringing the conversion price down to 35.00 yuan, then to 34.50 yuan, and subsequently to 34.57 yuan due to various corporate actions [2][3]. - The conversion price was later adjusted to 27.66 yuan and then to 27.98 yuan after share buybacks [4]. Downward Adjustment Clauses - The company has a clause allowing for downward adjustments of the conversion price if the stock price falls below 80% of the current conversion price for a specified period [5]. - The company decided not to exercise the downward adjustment right despite triggering conditions, citing confidence in its long-term value [6].

Group 1 - The company announced that the conversion price of its convertible bonds, "Yongjin Convertible Bonds," is expected to meet the conditions for downward adjustment [1][6] - The initial conversion price was set at 53.07 CNY per share, effective from June 17, 2022 [1][2] - The conversion price has undergone several adjustments, with the latest being reduced to 27.48 CNY per share effective from June 5, 2024 [4][5] Group 2 - The company held its annual shareholder meetings to approve profit distribution plans, which included cash dividends and capital reserve transfers that influenced the conversion price adjustments [2][4] - The company has the right to propose a downward adjustment of the conversion price if the stock price falls below 80% of the current conversion price for at least 15 trading days within a 30-day period [5][6] - There is a potential trigger for the downward adjustment of the conversion price if the stock price remains below 22.03 CNY per share for a specified period [6][7]

Key Points - The company has issued a total of 10 million convertible bonds with a total amount of 1 billion yuan, which are set to mature in 6 years with varying interest rates [1][2] - As of March 31, 2025, a total of 473,000 yuan worth of convertible bonds have been converted into 13,144 shares, representing 0.0039% of the company's total shares before conversion [1][3] - The unconverted amount of convertible bonds as of March 31, 2025, is 999,527,000 yuan, accounting for 99.9527% of the total issuance [1][6] Convertible Bond Issuance Overview - The convertible bonds were approved by the China Securities Regulatory Commission and began trading on December 31, 2021 [2] - The initial conversion price was set at 53.07 yuan per share, which has been adjusted multiple times due to profit distribution and capital reserve transfers [2][3][4] Conversion Price Adjustments - The conversion price has been adjusted from 53.07 yuan to 36.05 yuan, then to 35.00 yuan, and subsequently to 34.50 yuan, 34.57 yuan, and finally to 27.66 yuan as of August 17, 2023 [2][3][4] - The latest adjustment on March 18, 2024, set the conversion price at 27.98 yuan, which was further adjusted to 27.48 yuan and then to 27.54 yuan [5] Share Capital Changes - The total share capital before the conversion was 365,617,124 shares, which increased to 365,617,196 shares after the conversion of 72 shares [6]