Group 1 - The core viewpoint of the article is the verification opinion of GF Securities regarding the repurchase of convertible bonds issued by Zhejiang Rongsheng Environmental Paper Co., Ltd. [1][5] - The company issued 5.76 million convertible bonds on August 18, 2023, with a total issuance amount of 576 million yuan, after deducting issuance costs, the net fundraising amount was approximately 570 million yuan [1][2] - The additional repurchase clause allows bondholders to sell their bonds back to the company at face value plus accrued interest if there are significant changes in the investment projects funded by the bonds [2][3] Group 2 - The repurchase price for the bonds is set at 100.35 yuan per bond, which includes accrued interest calculated based on a coupon rate of 0.4% for the second year [3][4] - The repurchase period is from July 2, 2025, to July 8, 2025, during which bondholders can choose to sell back their bonds [4] - The company will continue to trade the bonds during the repurchase period, but conversion to stock will be suspended [4]

Group 1 - The company held its 15th meeting of the 8th Board of Directors on June 6, 2025, with all 6 directors present, ensuring compliance with relevant laws and regulations [1] - The Board approved a proposal to change part of the fundraising investment projects for convertible bonds, which will be submitted to the shareholders' meeting and the bondholders' meeting for review [2][3] - The Board agreed to hold the second extraordinary shareholders' meeting on June 24, 2025, using a combination of on-site and online voting [2] - The Board also approved the proposal to convene the first bondholders' meeting for "Rong 23 Convertible Bonds" on June 24, 2025 [3]

Summary of Key Points Core Viewpoint - The announcement provides an update on the conversion of the "Rong 23 Convertible Bonds" issued by Zhejiang Rongsheng Environmental Paper Co., Ltd, detailing the conversion status and adjustments to the conversion price. Group 1: Convertible Bond Issuance and Conversion Status - As of March 31, 2025, a total of RMB 47,000 of "Rong 23 Convertible Bonds" has been converted into 4,008 shares, representing 0.0014% of the company's total shares before conversion [1] - The amount of unconverted "Rong 23 Convertible Bonds" as of March 31, 2025, is RMB 575,953,000, accounting for 99.9918% of the total issuance [1] - From January 1, 2025, to March 31, 2025, a total of 86 shares were converted from the "Rong 23 Convertible Bonds" [1] Group 2: Details of Convertible Bond Issuance - The company was approved to issue 5.76 million "Rong 23 Convertible Bonds" on August 18, 2023, with a total value of RMB 57.6 million and a maturity of 6 years [2] - The initial conversion price for the bonds was set at RMB 15.74 per share starting from February 26, 2024 [2] - The conversion price was adjusted to RMB 12.06 per share on May 10, 2024, due to the company's profit distribution [3] - Following the cancellation of repurchased shares, the conversion price was further adjusted to RMB 11.59 per share on October 29, 2024 [4] Group 3: Share Capital Changes - The total share capital before the conversion on December 31, 2024, was 272,612,842 shares, which increased to 272,612,928 shares after the conversion [5]