Core Viewpoint - Shengde Xintai (300881.SZ) announced on September 23 that it plans to issue convertible bonds to raise up to 440 million yuan for the investment in an "advanced high-nickel seamless pipe manufacturing project" [1] Financial Performance - The company has shown stable performance in recent years, with projected revenues of 1.207 billion yuan, 1.981 billion yuan, and 2.663 billion yuan for the years 2022, 2023, and 2024 respectively [1] - Net profits attributable to shareholders are expected to be 73 million yuan, 121 million yuan, and 226 million yuan for the same years [1] - Over the past three years, the total cash dividends amounted to 217 million yuan, representing 155.13% of the average distributable profits [1] Recent Results - In the first half of 2025, the company achieved a revenue of 1.49 billion yuan and a net profit of 85 million yuan [1] - The asset-liability ratio stands at 65.37% [1]