Inner Mongolia OJing Science & Technology (SZ:001269)2024-08-12 07:24Group 1: Convertible Bonds - The company issued convertible bonds worth 470 million yuan, with a conversion period from May 30, 2024, to November 23, 2029. Holders have the option to convert or not, becoming shareholders the next day after conversion [2][3] - The board can propose a downward adjustment of the conversion price if the stock price is below 85% of the conversion price for at least 15 trading days within any 30 consecutive trading days [2][3] Group 2: Financial Performance - The company reported a significant decline in net profit, down 87.41% year-on-year, primarily due to oversupply and intensified competition in the photovoltaic industry, leading to decreased sales and prices of quartz crucibles [4][5] - The company’s cash and cash equivalents stood at 519 million yuan as of the end of March, sufficient to meet daily operational needs [5] Group 3: Shareholder Structure - The top three shareholders hold 31.83%, 24.56%, and 17.60% of the company’s shares, with no concerted action or special arrangements among them, ensuring no single shareholder can control decisions at shareholder meetings [4] Group 4: Government Subsidies and Future Plans - Government subsidies received in Q1 2024 were primarily for quartz crucible technology R&D and are expected to have a minor impact on revenue and profits [5] - The company is considering mergers and acquisitions to optimize asset structure and enhance competitiveness, subject to market conditions and financial status [5]