Conversion price of Weber alloy convertible bonds

On the evening of September 4th, Chongqing Shunbo Alloy (002996), the "king of recycled aluminum", announced that Shunbo convertible bonds with a total amount of 830 million yuan (8.3 million shares) will be officially listed on the Shenzhen Stock Exchange on September 7th.

On September 2nd, Shunbo Alloy closed at 15.82 yuan, up by 2.86%, with a turnover rate of 4.05% and a dynamic P/E ratio of 17.42, with a total market value of 6.945 billion yuan.

According to reports, the term of this convertible bond is six years, the duration is from August 2023 12 to August 20231day, and the conversion period is from February 20, 2023 to August 20231day. Coupon rate is 0.3%, 0.6%, 1.0%, 1.6%, 2.0% and 2.5% respectively, and the initial conversion price is 20.

The funds raised by this convertible bond will be used for the construction and operation of the 400,000-ton secondary aluminum project of the company's new material industrial base project (Phase I) and the supplement of liquidity. Among them, the 400,000-ton secondary aluminum project is located in Xinshi Industrial Park, Maning New Functional Zone, Maanshan City, Anhui Province, and is implemented by Shunbo Alloy Anhui Co., Ltd., a wholly-owned subsidiary newly established in June of 20021,with a total investment of 65.438+86.9 million yuan. After the project is completed and put into normal operation, it can realize an average annual profit of 245 million yuan, the financial internal rate of return after income tax is 12.5 1%, and the after-tax investment recovery period (including the construction period) is about 10.30 years, with good economic benefits.

The relevant person in charge of Shunbo Alloy said that it will closely rely on the existing four production bases in Chongqing Hechuan, Guangdong Qingyuan, Jiangsu Liyang and Hubei Xiangyang to expand and penetrate the regional market and strive to achieve sales growth; Accelerate the construction of a 400,000-ton production base in Anhui Shunbo Phase I, ensure that the output of production equipment is about 654.38+10,000 tons in the fourth quarter of this year, and further enhance the division and coverage of product sales.

In terms of wrought aluminum alloy raw material business, on the basis of existing Chongqing Aobo, we will speed up the equipment construction and installation progress of Hubei Shunbo/KLOC-0.5 million tons wrought aluminum bar project, and strive to achieve partial mass production in the fourth quarter of this year. At the same time, actively promote the preliminary work such as land and environmental impact assessment of the 500,000-ton deformation system raw material project of Anhui Shunbo Phase II, and strive for the early start of the project. In 2023, some production capacity factories will be put into trial operation.

Related Q&A: When is the conversion period of convertible bonds? According to the Detailed Rules for the Implementation of Convertible Corporate Bonds of Shenzhen Stock Exchange (revised in February, 2065438+2008), bondholders can only apply for conversion into company shares by offering within six months after the issuance, provided that the agreed conditions are met. The conversion period shall be determined by the issuer according to the duration of convertible corporate bonds and the financial situation of the company.