The Company and its directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the information disclosed in this announcement and shall bear joint and several liability for any false representations, misleading statements, or material omissions.
Important Matters Reminder
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Haining China Leather City Co., Ltd. (hereinafter referred to as the "Issuer" or the "Company") obtained the "Approval on the Registration of Public Offering of Corporate Bonds by Haining China Leather City Co., Ltd. to Professional Investors" from the China Securities Regulatory Commission (CSRC) on August 21, 2024 (Document No. [2024]1190), with a registered issuance size of no more than RMB 15 billion (hereinafter referred to as the "Bonds"). The Issuer will issue the Bonds in tranches. This issuance is the second tranche under the approval, with an issuance size of no more than RMB 2.60 billion (inclusive of RMB 2.60 billion).
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The short name of this tranche of bonds is "26 皮城 G1", and the bond code is "524954.SZ". The issuance size of this tranche of bonds is no more than RMB 2.60 billion (inclusive of RMB 2.60 billion), with a face value of RMB 100 per bond, and the issuance quantity is no more than 2.6 million bonds, with an issuance price of RMB 100 per bond.
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In accordance with the "Securities Law of the People's Republic of China" (hereinafter referred to as the "Securities Law") and other relevant regulations, these Bonds are exclusively offered to institutional investors among professional investors. Retail investors and individual investors among professional investors are not permitted to participate in the issuance and subscription. After the Bonds are listed, investor suitability management will be implemented, and only institutional investors among professional investors will participate in trading. Any subscription or purchase by retail investors and individual investors among professional investors will be invalid.
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Oriental Credit Rating Co., Ltd. has rated the Issuer's主体 (entity) credit rating as AA+, and this tranche of bonds is unrated. As of the end of the most recent period prior to the issuance and listing of this tranche of bonds, the Company's net assets were RMB 8.736 billion (total owners' equity in the consolidated financial statements as of March 31, 2026), and the asset-liability ratio on a consolidated basis was 34.22%. The asset-liability ratio on a parent company basis was 28.00%. The average annual distributable profit realized by the Issuer in the last three fiscal years was RMB 112 million (the average of net profit attributable to shareholders of the parent company in 2023, 2024, and 2025 was RMB 177.4962 million, RMB 88.84 million, and RMB 70.6087 million, respectively). It is expected to be no less than 1 time the annual interest of this tranche of bonds (for professional investors). The Issuer's financial indicators meet the relevant requirements prior to issuance.
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Upon completion of this issuance, the Company will promptly apply to the Shenzhen Stock Exchange for the listing and trading of this tranche of bonds. This tranche of bonds meets the listing conditions of the Shenzhen Stock Exchange and will be traded through matching, click-to-trade, inquiry, competitive bidding, and negotiated transactions. However, prior to the listing of this tranche of bonds, the Company's financial condition, operating performance, cash flow, and credit rating may change significantly, and the Company cannot guarantee that the application for listing of this tranche of bonds will be approved by the Shenzhen Stock Exchange. If the Bonds cannot be listed at that time, investors have the right to sell the Bonds back to the Company. Investment risks and liquidity risks arising from changes in the Company's operations and performance will be borne by the bond investors. This tranche of bonds cannot be traded on any exchange other than the Shenzhen Stock Exchange.