Group 1 - The core viewpoint of the article discusses the transfer of shares by shareholders and the credit rating adjustments of convertible bonds due to company performance issues [1][2][5] - The controlling shareholder of Hengfeng Information plans to transfer no more than 3% of the company's shares, indicating potential liquidity changes [1] - Longda Convertible Bond's credit rating has been downgraded to A- due to weakened debt repayment capacity, reflecting the company's losses in the first three quarters of 2025 [1][2] Group 2 - The article lists various convertible bonds, including those that are subject to strong redemption and those that will not undergo adjustments, providing specific details such as bond codes and announcement dates [2][5] - The current prices and redemption prices of several convertible bonds are provided, along with their last trading and conversion dates, indicating market conditions and investor sentiment [5][7] - The article highlights the remaining scale and market capitalization ratios of different convertible bonds, which can be useful for assessing investment opportunities [5][7]

Group 1 - Taifu Pump Industry has terminated the acquisition of 51% equity in Nanyang Huacheng [1] - Shareholder Fosun Pharma of Shanhe Pharmaceutical Auxiliary plans to reduce its stake by no more than 3% [1] - Several convertible bonds including Anji Convertible Bond, Longda Convertible Bond, and Oujing Convertible Bond will not undergo forced redemption [1][2] Group 2 - The following convertible bonds will not be adjusted: Oujing Convertible Bond, Longda Convertible Bond, and Tong 22 Convertible Bond [2] - New shares from Danna Biotechnology will be listed on the Beijing Stock Exchange [1] - North Mining Testing is also set to issue new shares on the Beijing Stock Exchange [1]

Core Viewpoint - Longda Food announced that it will not adjust the conversion price of its convertible bonds despite triggering the price adjustment clause due to its stock price being below 90% of the conversion price for ten consecutive trading days [1] Group 1: Company Announcement - Longda Food's stock price has been below the convertible bond conversion price of 8.37 yuan per share for ten consecutive trading days, triggering the price adjustment clause [1] - The company's board of directors decided not to exercise the right to adjust the conversion price of the "Longda Convertible Bonds" downwards [1] - If the price adjustment clause is triggered again within the next month (from November 1 to November 30, 2025), the company will also not propose a downward adjustment plan [1] Group 2: Future Considerations - Starting from December 1, 2025, if the price adjustment clause is triggered again, the company will follow relevant regulations to determine whether to exercise the right to adjust the conversion price [1]

Group 1 - The company, Longda Food, announced on September 19 that it will not exercise the right to lower the conversion price of its convertible bonds, known as "Longda Convertible Bonds" [2] - The board of directors decided that for one month, from September 20, 2025, to October 19, 2025, it will not propose any downward adjustment to the conversion price even if the conditions are triggered [2] - Starting from October 20, 2025, if the conditions for downward adjustment are triggered again, the company will follow the relevant procedures to decide whether to exercise the right to adjust the conversion price [2]

Core Viewpoint - The company, Shandong Longda Food Co., Ltd., has announced the potential triggering of conditions for a downward adjustment of the conversion price of its convertible bonds due to recent stock price performance [2][8]. Group 1: Convertible Bond Issuance Overview - The company issued 9.5 million convertible bonds with a total value of 950 million yuan, approved by the China Securities Regulatory Commission on July 13, 2020 [3]. - The bonds were listed on the Shenzhen Stock Exchange on August 7, 2020, under the name "Longda Convertible Bonds" with the code "128119.SZ" [3]. Group 2: Conversion Price Adjustment Conditions - The initial conversion price was set at 9.56 yuan per share, which has undergone several adjustments due to changes in the company's total share capital [5][6]. - The current conversion price is 9.30 yuan per share, effective from August 19, 2022 [6]. Group 3: Downward Adjustment Clause - The company’s board has the authority to propose a downward adjustment of the conversion price if the stock price falls below 90% of the current conversion price for ten out of twenty consecutive trading days [7]. - The period for assessing this condition began on September 8, 2025, and as of September 12, 2025, the stock price has been below the threshold for five trading days [2][8]. Group 4: Future Actions and Disclosure - If the conditions for a downward adjustment are met, the company will convene a board meeting to decide on the adjustment and will disclose the decision in accordance with regulatory requirements [9]. - The company has previously opted not to adjust the conversion price in March 2025, but the current situation may lead to a different decision [8].

Core Viewpoint - The company intends to continue using part of the idle raised funds to temporarily supplement its working capital, following the approval of its board and independent directors, to improve fund utilization efficiency and reduce financial costs [6][9][10]. Fundraising Overview - The company raised a total of RMB 950 million through the issuance of convertible bonds, with a net amount of RMB 935.78 million after deducting underwriting and other issuance costs [1]. - In 2021, the company raised RMB 620.40 million through a private placement, with a net amount of RMB 610.79 million after costs [2]. Fund Usage Status - As of August 14, 2025, the company has utilized RMB 582.47 million of the convertible bond funds, leaving a balance of RMB 380.16 million [4]. - The company has utilized RMB 537.54 million of the private placement funds, leaving a balance of RMB 73.40 million [5]. - The unutilized funds are primarily allocated for pig farming projects, which have been delayed due to the downturn in the pig cycle and other market factors [6]. Previous Fund Usage for Working Capital - The company previously approved the use of up to RMB 494.80 million of idle funds for working capital, with specific amounts allocated from both convertible bonds and private placements [6][7]. Current Fund Usage Plan - The company plans to use up to RMB 380 million of idle funds for working capital, with RMB 73 million from private placement funds [8]. - This usage is expected to save approximately RMB 15 million in financial costs while ensuring the normal progress of investment projects [8]. Approval Process and Opinions - The board and independent directors have approved the plan to use idle funds for working capital, emphasizing that it will not affect the normal investment projects or harm shareholder interests [9][10]. - The company is required to return the funds to the special account within twelve months [8]. Sponsor's Verification Opinion - The sponsor has verified that the process for using idle funds complies with relevant laws and regulations, and there are no changes to the intended use of the funds that would harm shareholder interests [10][11].

Meeting Details - The meeting was held on August 11, 2025, at 2:45 PM, with online voting available throughout the day [1] - A total of 382 shareholders attended the meeting, representing 303,805,117 shares, which is 29.2755% of the total voting shares [1] Voting Participation - 3 shareholders attended in person, representing 293,885,900 shares (28.3197% of total voting shares) [2] - 379 shareholders participated via online voting, representing 9,919,217 shares (0.9558% of total voting shares) [2] - Among small shareholders, 380 participated, representing 9,919,317 shares (0.9559% of total voting shares) [2] Proposal Voting Results - The meeting adopted a combination of on-site and online voting for proposals, with 299,328,312 shares in favor, accounting for 99.9137% of the valid votes [2] - Small shareholders voted with 5,442,512 shares in favor (54.8678%), 4,214,605 shares against (42.4889%), and 262,200 shares abstaining (2.6433%) [3] - Another proposal received 296,266,369 shares in favor (99.8981%) [3] Legal Opinion - The legal opinion from Beijing Zhonglun (Chengdu) Law Firm confirmed that the meeting's procedures complied with relevant laws and regulations, and the resolutions passed were valid [5]

Group 1 - The company issued 9.5 million convertible bonds with a total value of 950 million yuan, which began trading on August 7, 2020 [1] - The convertible bonds, named "Longda Convertible Bonds," have a conversion period from January 18, 2021, to July 12, 2026 [1] - The stock price of the company has been below 70% of the conversion price of 9.30 yuan per share for 30 consecutive trading days, triggering the conditional redemption clause of the convertible bonds [2] Group 2 - The redemption period for the convertible bonds will be from July 15 to July 21, 2025, during which the conversion of the bonds will be suspended [2] - The conversion of the bonds will resume on July 22, 2025, after the redemption application period ends [2] - The company emphasizes the importance of this announcement for the bondholders [2]

New Stock Listings - Huadian New Energy (600930) listed at an issue price of 3.18 on July 16, 2025[1] - Zhongcheng Tui (300208) has 2 trading days remaining until the last trading day[1] - Tui Shi Jin Gang (600190) also has 2 trading days remaining until the last trading day[1] Abnormal Fluctuations - Huayin Power (600744) reported severe abnormal fluctuations on July 15, 2025[1] - Changcheng Military Industry (601606) announced abnormal fluctuations on July 15, 2025[1] - ST Yanzhen (603389) reported abnormal fluctuations on July 16, 2025[1] Other Notable Announcements - ST Ya Zhen (000627) reported significant fluctuations with a value of 7189 on July 16, 2025[3] - Guosheng Technology (603778) reported fluctuations with a value of 3370 on July 15, 2025[3] - ST Xin Chao (600777) reported fluctuations with a value of 1008 on July 11, 2025[3]

Group 1 - The legal opinion letter is issued by Beijing Zhonglun (Chengdu) Law Firm regarding the repurchase of convertible bonds by Shandong Longda Meishi Co., Ltd. [1] - The company has provided necessary and authentic materials for the issuance of the legal opinion letter, ensuring that all documents are true, accurate, complete, and valid [3][4] - The legal opinion is limited to domestic legal issues related to the repurchase of convertible bonds and does not cover financial, accounting, or overseas matters [4][5] Group 2 - The company has obtained internal approvals and authorizations for the public issuance of A-share convertible bonds, including various resolutions and feasibility reports [6][7] - The China Securities Regulatory Commission approved the public issuance of convertible bonds totaling 950 million yuan, with a term of 6 years [7][8] - The convertible bonds, named "Longda Convertible Bonds," were listed and began trading on August 7, 2020 [8] Group 3 - According to the regulations, bondholders have the right to repurchase their bonds under certain conditions, including a drop in stock price below 70% of the conversion price [8][9] - The specific conditions for the repurchase state that if the stock price falls below 6.51 yuan per share, bondholders can exercise their repurchase rights [9] - The company is currently in the last two interest years of the convertible bonds, and the repurchase conditions have been met [9][10] Group 4 - The legal opinion concludes that bondholders can repurchase their convertible bonds according to the relevant regulations and the terms outlined in the offering document [10]