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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Flat Glass Group Co., Ltd.    6865   CNE100002375

FLAT GLASS GROUP CO., LTD.

(6865)
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Flat Glass : ANNOUNCEMENT APPROVAL ON APPLICATION FOR PUBLIC ISSUANCE OF A SHARE CONVERTIBLE BONDS BY CSRC

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02/25/2020 | 04:09am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

福 萊 特 玻 璃 集 團 股 份 有 限 公 司

Flat Glass Group Co., Ltd.

(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock code: 6865)

ANNOUNCEMENT

APPROVAL ON APPLICATION FOR PUBLIC ISSUANCE

OF A SHARE CONVERTIBLE BONDS BY CSRC

Reference is made to the announcements of Flat Glass Group Co., Ltd. (the "Company") dated 19 April 2019 in relation to, among others, the proposed issuance of A Share Convertible Bonds (the "Announcement"). Capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement unless otherwise specified.

The proposal in relation to the public issuance of A Share Convertible Bonds was considered and approved at the 2018 annual general meeting, the 2019 first A shareholders class meeting, and the 2019 first H shareholders class meeting of the Company held on 24 June 2019.

The Company received the Approval of the Public Issuance of Convertible Corporate Bonds of Flat Glass Group Co., Ltd. (CSRC Approval [2020] No.294) (the "Approval") issued by China Securities Regulatory Commission (the "CSRC") recently, which sets out the following:

  1. The Company's public issuance of A Share Convertible Bonds in an aggregate par value of RMB1.45 billion with a term of six years is approved;
  2. The issuance of A Share Convertible Bonds shall be carried out strictly in accordance with the offering document and the issuance announcement submitted to the CSRC;
  3. The Approval shall be valid for 12 months from the date of Approval; and

1

4. If any significant event occurs to the Company during the period from the date of the Approval to the completion of the issuance of the A Share Convertible Bonds, the Company shall promptly report to the CSRC and deal with it in accordance with relevant regulations.

By order of the Board

Flat Glass Group Co., Ltd.

Ruan Hongliang

Chairman

Jiaxing, Zhejiang Province, 25 February 2020

As at the date of this announcement, the executive directors of the Company are Mr. Ruan Hongliang, Ms. Jiang Jinhua, Mr. Wei Yezhong and Mr. Shen Qifu, and the independent non-executive directors of the Company are Mr. Cui Xiaozhong, Ms. Hua Fulan and Mr. Ng Ki Hung.

2

Disclaimer

Flat Glass Group Co. Ltd. published this content on 25 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 February 2020 09:08:12 UTC

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Sales 2020 5 741 M 820 M 820 M
Net income 2020 990 M 141 M 141 M
Net Debt 2020 530 M 75,7 M 75,7 M
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Yield 2020 0,84%
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Mean consensus BUY
Number of Analysts 9
Average target price 9,66 CNY
Last Close Price 8,77 CNY
Spread / Highest target 139%
Spread / Average Target 10,1%
Spread / Lowest Target -50,9%
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NameTitle
Hong Liang Ruan Chairman, General Manager & Spokesman
Wen Rong Zheng Chairman-Supervisory Board
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