Important Statement
This report is prepared by Huatai United Securities Co., Ltd. (hereinafter "Huatai United Securities"), the trustee for the current bond issue, in accordance with the "Administrative Measures for the Issuance and Trading of Corporate Bonds," the "Trustee Management Agreement for the Public Issuance of Convertible Corporate Bonds by Jiangsu Henghui Safety Products Group Co., Ltd. between Jiangsu Henghui Safety Products Group Co., Ltd. and Huatai United Securities Co., Ltd.," and the "Prospectus for the Public Issuance of Convertible Corporate Bonds and Listing on the ChiNext Market by Huatai United Securities Co., Ltd." Huatai United Securities has not independently verified the content and information cited in this report from the aforementioned documents and does not provide any guarantee or assume any responsibility for the authenticity, accuracy, or completeness of such cited content and information.
This report does not constitute a recommendation for investors to engage or refrain from any specific action. Investors should make independent judgments regarding relevant matters and should not rely on any content in this report as a commitment or statement made by Huatai United Securities. Under no circumstances shall Huatai United Securities be held liable for any actions or inactions taken by investors based on this report.
Table of Contents
- Important Statement
- Table of Contents
- Section 1: Overview of the Current Bonds
- Section 2: Performance of Duties by the Bond Trustee
- Section 3: Annual Operating and Financial Status of the Issuer
- Section 4: Use of Proceeds by the Issuer
- Section 5: Guarantor Information
- Section 6: Bondholders' Meeting
- Section 7: Interest Payment Status
- Section 8: Tracking Rating Status
- Section 9: Other Matters Significantly Affecting Bondholders' Rights
Section 1: Overview of the Current Bonds
I. Approval Documents and Scale
The proposal and related matters for the public issuance of convertible corporate bonds (hereinafter "the Current Convertible Bonds") by Jiangsu Henghui Safety Products Group Co., Ltd. (hereinafter "Henghui Safety," "the Company," or "the Issuer") were approved by the 18th meeting of the 2nd Board of Directors on June 26, 2023, the 2nd Extraordinary General Meeting of Shareholders on July 13, 2023, and the 23rd meeting of the 2nd Board of Directors on November 15, 2023. On June 27, 2024, and July 15, 2024, the Company held the 3rd meeting of the 3rd Board of Directors and the 1st Extraordinary General Meeting of Shareholders of 2024, respectively, to approve the "Proposal on Extending the Validity Period of the Shareholders' General Meeting Resolution on the Public Issuance of Convertible Corporate Bonds."
On June 14, 2024, the ChiNext Listing Committee of the Shenzhen Stock Exchange held its 2024 11th review meeting and approved the issuance application. On July 19, 2024, the China Securities Regulatory Commission (hereinafter "CSRC") issued the "Approval for Jiangsu Henghui Safety Products Group Co., Ltd. to Register the Public Issuance of Convertible Corporate Bonds" (Zheng Jian Xu Ke [2024] No. 1063). The Company issued 5.00 million convertible bonds at a par value of 100 yuan each, raising a total of 500 million yuan. After deducting underwriting fees, audit and verification fees, legal fees, credit rating fees, issuance handling fees, and information disclosure expenses (excluding tax), the net proceeds were 492.6013 million yuan. The funds were fully received by August 27, 2024, and Lixin Certified Public Accountants (Special General Partnership) issued the "Capital Verification Report" (Xin Hui Shi Bao Zi [2024] No. ZA14213) on August 28, 2024.
With the approval of the Shenzhen Stock Exchange, the bonds were listed on the Shenzhen Stock Exchange starting September 12, 2024, under the abbreviation "Henghui Convertible Bonds" and code "123248."