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China Economic Net, Beijing, August 12th. Xingyuan Zhuomei (301398.SZ) closed at 33.75 yuan today, down 1.57%, with a total market value of 2.70 billion yuan.

The plan for issuing convertible corporate bonds to unspecified objects disclosed by Xingyuan Zhuomei on Friday night shows that the company intends to raise a total amount of no more than RMB 450 million (inclusive) by applying to issue convertible corporate bonds to unspecified objects. After deducting the issuance expenses, the funds raised will be used for the project of producing 3 million sets of high-strength large-scale magnesium alloy precision molded parts for automobiles annually.

The term of the convertible bonds issued this time is 6 years from the date of issuance. The convertible bonds issued by the company this time are not guaranteed. The credit rating agency will issue a credit rating report for the convertible bonds issued by the company this time.

The method for determining the face interest rate of the convertible bonds issued this time and the final interest rate level for each interest calculation year shall be submitted to the company's shareholders' meeting to authorize the company's board of directors or a person authorized by the board of directors to negotiate and determine with the sponsor (lead underwriter) based on national policies, market conditions and the specific circumstances of the issuer before issuance.

The convertible bonds issued this time adopt the method of paying interest once a year, and the principal of the convertible corporate bonds that have not been converted into shares at maturity and the last year's interest will be repaid within five trading days after the maturity date.