Core Viewpoint - The announcement details the passive dilution of shareholding percentages for the controlling shareholder and significant shareholders of Zhejiang Zhanyang Development Co., Ltd. due to the conversion of convertible bonds into shares, without affecting the actual number of shares held [1][2][3]. Summary by Sections Convertible Bond Issuance - The company issued 6.60 billion yuan worth of convertible bonds, with 6.6 million bonds at a face value of 100 yuan each, approved by the China Securities Regulatory Commission [2]. Shareholding Changes - Following the conversion of bonds, the controlling shareholder, Zhejiang Provincial Transportation Investment Group, saw its shareholding percentage decrease from 55.62% to 55.45%. Meanwhile, the combined shareholding of Ningbo Huihai Enterprise Management Partnership and its acting in concert party, Ningbo Haijiang Enterprise Management Partnership, decreased from 8.07% to 7.94% [1][4]. Impact on Corporate Structure - The dilution of shareholding does not trigger a mandatory tender offer and will not lead to changes in the controlling shareholder or actual controller of the company. It also does not significantly impact the corporate governance structure or ongoing operations of the company [1][4][5]. Conversion Price Adjustments - The initial conversion price of the bonds was set at 11.74 yuan per share, which was adjusted to 11.46 yuan following the 2023 profit distribution, and further adjusted to 11.20 yuan after the 2024 profit distribution [3]. Other Considerations - The company will fulfill its disclosure obligations in accordance with relevant laws and regulations if further changes in equity occur due to the bondholders' decisions regarding conversion [5].

Core Viewpoint - The company maintains its credit rating of AA- for both its corporate entity and the convertible bonds, with a stable outlook, indicating consistent financial health and creditworthiness [1][2]. Group 1: Credit Rating Information - Previous credit rating results indicated a corporate credit rating of AA- and a credit rating for the convertible bonds also at AA-, with a stable outlook [2]. - The recent tracking rating report issued by Zhongzheng Pengyuan on June 24, 2025, confirms the maintenance of the AA- credit rating for both the company and the "Zhenyang Convertible Bonds" [2]. - There has been no change in the credit rating results compared to the previous assessment conducted on June 21, 2024 [2]. Group 2: Regulatory Compliance - The company has complied with the regulations set forth by the China Securities Regulatory Commission and the Shanghai Stock Exchange regarding the issuance of securities [1]. - The tracking rating was conducted in accordance with the relevant guidelines for listed companies and bond issuance [1].

| 新股发行及今日交易提示 | 2025/5/21 | 星期三 | | | | | | --- | --- | --- | --- | --- | --- | --- | | 2025/5/21 | 内地市场权益提示 | 类别 | 证券代码 | 证券简称 | 权益日期 | 最新公告链接 | | https://www.cninfo.com.cn/new/disclosure/detail?stockCode=600777&announcementId=122356 | 要约收购 | 600777 | ST新潮 | 要约申报期：2025年4月23日至2025年5月22日 | 9349&orgId=gssh0600777&announcementTime=2025 | -05-17 | | https://www.cninfo.com.cn/new/disclosure/detail?stockCode=300630&announcementId=122360 | 300630 | 普利退 | 最后交易日：2025年5月21日 | 7168&orgId=9900031463&announcementTime=20 ...