Company Overview - Silver Bond Metal Composite Materials Co., Ltd. was founded in June 1988 and is located in Wuxi, Jiangsu Province, China [2] - The company was listed on the Shenzhen Stock Exchange in July 2012, with stock code 300337 [2] - Silver Bond primarily engages in the research, production, and sales of aluminum thermal transmission materials, aluminum-steel composite materials, and multi-metal composite materials [2] Financial Performance - For the period from January to March 2025, Silver Bond achieved operating revenue of 1.3716 billion yuan, representing a year-on-year increase of 21.87% [2] - The net profit attributable to shareholders for the same period was 14.6104 million yuan, showing a year-on-year decline of 49.51% [2] - The net profit after deducting non-recurring gains and losses was 11.2693 million yuan, down 59.66% year-on-year [2] Shareholder Structure - As of August 2025, the shareholder concentration of Silver Bond is very dispersed, with 62,580 shareholders [2] - The average circulating shares per shareholder is 11,370 shares, and the average holding amount is 135,600 yuan [2] Convertible Bonds - On August 27, Silver Bond's convertible bonds fell by 2.05% to 129.134 yuan per bond, with a trading volume of 59.56 million yuan [1] - The credit rating of the convertible bonds is "AA-", with a maturity of 6 years and a coupon rate that increases over time, starting from 0.20% in the first year to 2.30% in the sixth year [1] - The conversion price for the bonds is set at 12.51 yuan, with the conversion period starting on July 14, 2025 [1]

Key Points - The company issued 7,850,000 convertible bonds with a total fundraising amount of RMB 785 million, netting RMB 775.22 million after expenses [1][2] - The bonds were listed on the Shenzhen Stock Exchange on January 24, 2025, under the name "Yinbang Convertible Bonds" with the code "123252" [2][3] - The bond's conversion period starts on July 14, 2025, and ends on January 6, 2031, allowing bondholders to convert their bonds into shares [2][3] - The initial conversion price is set at RMB 12.52 per share, which was later adjusted to RMB 12.51 due to a cash dividend distribution [5][10] - The bond has a six-year term, with a tiered interest rate starting at 0.20% in the first year and increasing to 2.30% in the sixth year [3][10] - The company has established special accounts for the management of the raised funds, ensuring proper oversight and usage [2] - Bondholders can apply for conversion during the specified conversion period, with the minimum conversion unit being one share [5][11] - The company has the right to redeem the bonds at 113% of the face value after five trading days post-maturity if certain conditions are met [13] - Bondholders have the option to sell back their bonds to the company under specific conditions if the stock price falls below 70% of the conversion price [14][15]

Group 1 - The company issued 7,850,000 convertible bonds with a total fundraising amount of RMB 785 million, net proceeds amounting to RMB 775.22 million after deducting issuance costs [1] - The convertible bonds were listed on the Shenzhen Stock Exchange on January 24, 2025, under the name "Yinbang Convertible Bonds" and code "123252" [2] - The conversion period for the bonds starts on July 14, 2025, and ends on January 6, 2031, allowing bondholders to choose whether to convert their bonds into shares [2][3] Group 2 - The initial conversion price for the bonds is set at RMB 12.52 per share, with no adjustments made to the conversion price as of the announcement date [3] - The conversion price will be adjusted based on specific corporate actions such as stock dividends, capital increases, and cash dividends, following a defined formula [4][5] - The company announced a profit distribution plan for 2024, with a net profit of RMB 57.69 million and a cash dividend of RMB 0.10 per share, leading to an adjustment of the conversion price to RMB 12.51 per share effective from July 14, 2025 [6][7]