Core Viewpoint - The company announces that the convertible bond "Shengtai Convertible Bond" is expected to meet the conditions for a downward adjustment of the conversion price due to the stock price being below 85% of the current conversion price for a specified period [1][3]. Group 1: Convertible Bond Issuance Overview - The company issued 7,011,800 convertible bonds with a total fundraising amount of 700.18 million yuan, netting 683.845 million yuan after deducting issuance costs [2]. - The bonds have a term of 6 years, from November 7, 2022, to November 6, 2028, and were listed on the Shanghai Stock Exchange on December 1, 2022 [2]. Group 2: Conversion Price Adjustment Terms - The initial conversion price was set at 10.90 yuan per share, with the latest adjustment bringing it down to 10.56 yuan per share [3]. - The conversion price can be adjusted downward if the stock price is below 85% of the current conversion price for at least 15 out of 30 consecutive trading days [3][5]. Group 3: Conditions for Triggering Price Adjustment - The period for triggering the conversion price adjustment starts from July 21, 2025, with the threshold set at 8.9760 yuan per share [5]. - If the stock price continues to meet the conditions within the next 20 trading days, the company may trigger the conversion price adjustment [5].

Core Viewpoint - The report outlines the issuance of A-share convertible bonds by Sheng Tai Intelligent Manufacturing Group Co., Ltd., detailing the approval process, issuance terms, and financial implications for the company. Section 1: Bond Issuance Details - The issuance of A-share convertible bonds was approved by the company's board on April 15, 2022, and by the shareholders on May 9, 2022 [2] - The total amount of convertible bonds issued is RMB 701.18 million, with a face value of RMB 100 per bond, and a maturity of six years [3][4] - The actual funds received after deducting underwriting fees amounted to RMB 683.845 million, which was deposited into a dedicated account [3] Section 2: Key Terms of the Issuance - The bonds are convertible into the company's A-shares, with an initial conversion price set at RMB 10.90 per share [8] - The coupon rates are 0.30% for the first year, 0.50% for the second year, and 1.00% for the third year, with annual interest payments [4][5] - The conversion period for the bonds is from May 11, 2023, to November 6, 2028 [7] Section 3: Financial Performance - For the fiscal year ending December 31, 2024, the company reported a revenue of RMB 366.62 million, a decrease of 21.18% year-on-year [19][20] - The net profit attributable to shareholders was RMB 46.65 million, down 55.31% compared to the previous year [19][20] - The company achieved a net profit of RMB 40.45 million after excluding non-recurring items, reflecting a 53.13% increase year-on-year [19] Section 4: Use of Proceeds - The proceeds from the bond issuance will be used for projects including a high-end knitted fabric dyeing production line and a distributed photovoltaic power station [17] - The total investment for these projects is RMB 923.47 million, with the bond proceeds covering RMB 701.18 million, while the remaining funds will be sourced from the company [17] - As of December 31, 2024, the company had utilized RMB 630.88 million of the raised funds, with RMB 429.78 million specifically allocated to project investments [21]

Core Viewpoint - The company has adjusted its total profit distribution amount for the year 2024 due to changes in its total share capital resulting from the conversion of convertible bonds into shares, maintaining the per-share distribution ratio unchanged [1][2][3] Summary by Sections Profit Distribution Adjustment - The total profit distribution amount has been adjusted from 29,891,224.88 yuan (including tax) to 29,891,297.43 yuan (including tax) [1] - The adjustment is due to the increase in total share capital from the conversion of the company's convertible bonds "Shengtai Convertible Bonds" [1][2] Pre-Adjustment Profit Distribution Plan - The initial profit distribution plan for 2024 was to distribute a cash dividend of 0.55 yuan (including tax) for every 10 shares, with no capital reserve conversion or stock issuance [1] - As of December 31, 2024, the total share capital was 555,562,416 shares, with 12,085,600 shares held in the repurchase account, leading to a total cash dividend distribution of 29,891,224.88 yuan (including tax) [1][3] - The total amount for cash dividends and share repurchases was 88,700,785.83 yuan, accounting for 190.14% of the net profit attributable to shareholders for 2024 [1] Post-Adjustment Profit Distribution Plan - The adjusted profit distribution plan maintains the cash dividend of 0.55 yuan (including tax) for every 10 shares, with the total share capital now at 555,563,735 shares as of May 28, 2025 [2][3] - The total cash dividend distribution after adjustment is 29,891,297.43 yuan (including tax), with the cash dividend and repurchase amount totaling 29,891,297.43 yuan, accounting for 64.08% of the net profit attributable to shareholders for 2024 [3]

Group 1 - The company will suspend the conversion of its convertible bonds "Shengtai Convertible Bonds" from May 29, 2025, until the equity distribution registration date [1][3] - The company plans to distribute a cash dividend of 0.55 yuan (including tax) for every 10 shares to all shareholders, based on the total share capital minus the shares held in the repurchase account [1][2] - The total number of shares as of December 31, 2024, is 555,562,416, with 12,085,600 shares deducted for the repurchase account, resulting in a total cash dividend distribution of 29,891,224.88 yuan (including tax) [1][2] Group 2 - The cash dividend and repurchase amount combined is 29,891,224.88 yuan, which accounts for 64.08% of the net profit attributable to shareholders of the listed company for 2024 [1][2] - The profit distribution plan has been approved at the annual general meeting held on May 13, 2025, and further details are available in the announcement published on May 14, 2025 [2] - The company will adjust the conversion price of the convertible bonds according to the terms of the issuance and relevant regulations after the equity distribution plan is implemented [2]