Core Viewpoint - Jinlang Technology has received approval from the Shenzhen Stock Exchange for its application to issue convertible bonds, aiming to raise no more than 1.677 billion yuan for various projects, including distributed photovoltaic power stations and new inverter projects [1][2] Group 1: Fundraising and Project Details - The company plans to use 354 million yuan of the raised funds to enhance the scale of its distributed photovoltaic power generation business, with a total installed capacity of approximately 120MW [1][2] - The high-voltage large-capacity grid-connected inverter project will receive 333 million yuan, with a production capacity of 25,000 units of inverters above 250kW per year upon full production [2] - The medium and large-capacity hybrid energy storage inverter project will receive 291 million yuan, with a production capacity of 25,000 units of inverters above 20kW per year upon full production [2] Group 2: Industry Trends and Competitive Position - The projects align with the global trend towards high power, intelligent, and integrated energy storage solutions in the photovoltaic industry, enhancing the company's competitive edge [2][3] - The company aims to convert resource advantages into performance returns through the implementation of these projects, thereby improving its overall competitiveness in the photovoltaic industry chain [2]

Core Viewpoint - Shenzhen Stock Exchange announced that Jinlang Technology (300763) meets the conditions for issuing convertible bonds, which will raise up to RMB 167.66 million for various projects [1][3]. Group 1: Issuance Details - Jinlang Technology plans to issue convertible bonds with a total amount not exceeding RMB 167,658.38 million, net of issuance costs [3]. - The bonds will be issued at a par value of RMB 100 each [3]. - The main underwriter for this issuance is Guotai Junan Securities Co., Ltd. [3]. Group 2: Fund Allocation - The raised funds will be allocated to several projects, including distributed photovoltaic power station projects, new high-voltage high-power grid-connected inverter projects, new medium and large power hybrid energy storage inverter projects, Shanghai R&D center construction, digital intelligence enhancement projects, and working capital supplementation [3]. Group 3: Investor Eligibility - The issuance is open to natural persons, legal entities, securities investment funds, and other investors who hold accounts with China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, excluding those prohibited by national laws and regulations [3].

Core Viewpoint - The company plans to issue convertible bonds to unspecified investors, which may dilute immediate returns, and has proposed measures to mitigate this impact while ensuring the commitment of relevant parties to these measures [1][2][5]. Financial Impact of the Convertible Bond Issuance - The issuance of convertible bonds is analyzed under two scenarios: 100% conversion and 0% conversion by December 31, 2026 [2]. - The projected net profit attributable to the parent company for 2025 is estimated at 691.16 million yuan, with potential growth scenarios of 0%, 10%, and 20% for subsequent years [2][3]. - Key financial metrics such as total shares, net assets, and earnings per share are projected to be affected by the bond issuance, with diluted earnings per share expected to decrease under certain conditions [3][4]. Necessity and Reasonableness of the Bond Issuance - The funds raised will primarily support projects aligned with the company's core business and national policies, particularly in distributed photovoltaic power generation [5][6]. - The company has a strong foundation in personnel, technology, and market resources to ensure the successful implementation of the investment projects [6][7]. Measures to Mitigate Dilution of Immediate Returns - The company will enhance the management of raised funds and expedite project implementation to minimize the dilution of immediate returns [11]. - Improvements in operational management and internal controls are planned to increase efficiency and reduce costs [12]. - The company will continue to invest in research and development to strengthen its core competitiveness [12]. Commitment from Major Stakeholders - The controlling shareholders and management have committed to ensuring the fulfillment of the proposed measures to mitigate the dilution of immediate returns [13][14].