301565SZSE

Reply to the Inquiry Letter Regarding Zhonglun New Materials Co., Ltd.'s Application for Issuing Convertible Corporate Bonds to Unspecified Objects

Sinolong New Materials Co., Ltd.··201 pages

✨ AI Summary

This document is a response to the Shenzhen Stock Exchange's inquiry regarding Zhonglun New Materials Co., Ltd.'s application to issue convertible bonds. The company reported fluctuating revenues and profits over recent years, with a notable decline in cash flow. The inquiry addresses concerns about the reasons for these trends, liquidity risks, and the sustainability of the company's performance. The company aims to clarify its financial situation and the rationale behind its bond issuance.

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Full Translation

AI Translation· azure_openai

Reply to the Inquiry Letter Regarding Zhonglun New Materials Co., Ltd.'s Application for Issuing Convertible Corporate Bonds to Unspecified Objects

Sponsor (Lead Underwriter)

Guangdong Province, Shenzhen City, Futian District, Central Third Road No. 8, Excellence Times Square (Phase II) North Building
May 2026

1. Response to the Inquiry Letter

Shenzhen Stock Exchange: We have received your inquiry letter dated November 13, 2025, regarding Zhonglun New Materials Co., Ltd.'s application to issue convertible corporate bonds to unspecified objects (Inquiry Letter [2025] No. 020068) (hereinafter referred to as "Inquiry Letter"). Zhonglun New Materials Co., Ltd. (hereinafter referred to as "Zhonglun New Materials," "Issuer," or "Company") has discussed, verified, and implemented the issues raised in the Inquiry Letter with relevant parties, including CITIC Securities Co., Ltd. (hereinafter referred to as "CITIC Securities," "Sponsor"), Rongcheng Accounting Firm (Special General Partnership) (hereinafter referred to as "Reporting Accountant"), and Beijing Junhe Law Firm (hereinafter referred to as "Issuer's Lawyer"), in accordance with the principles of diligence and integrity. We now respond as follows for your review.

Explanation of the Response Content, Format, and Supplementary Disclosure

  1. Unless otherwise specified, the abbreviations or definitions used in this response to the Inquiry Letter have the same meanings as those in the "Zhonglun New Materials Co., Ltd. 2025 Prospectus for Issuing Convertible Corporate Bonds to Unspecified Objects" (Draft) (hereinafter referred to as "Prospectus").
  2. If there are discrepancies between the total and the sum of individual items in this response, they are due to rounding.
  3. The font types in this response represent the following meanings:
    • Regular font (not bold): Issues listed in the Inquiry Letter
    • Bold font: Responses to the issues listed in the Inquiry Letter, and verification opinions from intermediaries
    • Italic bold font: Amendments to the Prospectus (Draft) and responses to the Inquiry Letter

2. Table of Contents

  • Table of Contents............................................................................................................................ 2
  • Question 1........................................................................................................................................... 3
  • Question 2........................................................................................................................................... 119
  • Question 3........................................................................................................................................... 136
  • Overall Opinion of the Sponsor........................................................................................................ 196

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