Stock Code: 301092 Stock Abbreviation: Zhengguang Shares
Zhejiang Zhengguang Industrial Co., Ltd.
(3rd Floor, No. 1 Yushu Street, Linping Street, Linping District, Hangzhou City, Zhejiang Province)
Demonstration and Analysis Report on the Plan for Issuing Convertible Corporate Bonds to Unspecified Targets (Revised Draft)
July 2026
Zhejiang Zhengguang Industrial Co., Ltd. (hereinafter referred to as the "Company" or "Zhengguang Shares") is a company listed on the ChiNext board of the Shenzhen Stock Exchange. To meet the capital requirements for business development, expand the company's operating scale, and enhance its comprehensive competitiveness, the Company, considering its actual situation and in accordance with the "Company Law of the People's Republic of China" (hereinafter "Company Law"), the "Securities Law of the People's Republic of China" (hereinafter "Securities Law"), the "Administrative Measures for the Registration of Securities Issuance by Listed Companies" (hereinafter "Registration Management Measures"), and other relevant laws, regulations, and normative documents, proposes to raise funds by issuing convertible corporate bonds to unspecified targets (hereinafter "this issuance"; convertible corporate bonds hereinafter "convertible bonds").
The total amount of funds raised from this issuance of convertible bonds shall not exceed 616.5494 million RMB (inclusive). After deducting issuance expenses, the funds will be used for the "Annual Production of 250 Tons of Specialized Resins for the Biopharmaceutical Industry Project," "Annual Production of 30 Sets of Adsorption and Separation Purification Equipment Project," "Biopharmaceutical and New Energy Resin Application R&D Center Project," "Marketing Network and Service System Construction Project," and "Replenishment of Working Capital." In view of this, the Company has prepared this demonstration and analysis report on the plan for issuing convertible corporate bonds to unspecified targets.
Unless otherwise specified in this report, relevant terms have the same meanings as those in the "Plan for Issuing Convertible Corporate Bonds to Unspecified Targets (Revised Draft)."
Section 1 Necessity of This Securities Issuance and Selection of Varieties
- Varieties of Securities Selected for This Issuance
The type of securities for this issuance is convertible corporate bonds that can be converted into the Company's A-shares. These convertible bonds and the future converted A-shares will be listed on the Shenzhen Stock Exchange.
- Necessity of Selecting Convertible Corporate Bonds for This Issuance
(1) This issuance is a need for the Company's business development
The investment projects for the raised funds are comprehensive decisions made under the framework of the Company's overall development strategy, based on the actual needs of downstream industries and the Company's existing products and technical advantages. They comply with national industrial policies and the direction of industry technological development and have good market prospects. At the same time, the implementation of these projects will help the Company further consolidate and exert its inherent advantages, accelerate the transformation of technical resources into economic benefits, and continuously improve the Company's profitability and sustainable development capabilities. For detailed analysis, please refer to the "Feasibility Analysis Report on the Use of Proceeds from the Issuance of Convertible Corporate Bonds to Unspecified Targets" disclosed by the Company.
The investment projects for the funds raised from this issuance of convertible corporate bonds to unspecified targets have been carefully demonstrated by the Company. They comply with relevant national industrial policies and the Company's strategic development direction. The implementation of the projects is conducive to further enhancing the Company's core competitiveness, strengthening the Company's sustainable development capabilities, and is in the interests of the Company and all shareholders, thus possessing necessity. For detailed analysis, please refer to the "Feasibility Analysis Report on the Use of Proceeds from the Issuance of Convertible Corporate Bonds to Unspecified Targets" announced by the Company.
(2) Limitations of traditional debt financing such as bank loans