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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  AviChina Industry & Technology Company Limited    2357   CNE1000001Y8

AVICHINA INDUSTRY & TECHNOLOGY COMPANY LIMITED

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AviChina Industry & Technology : VOLUNTARY ANNOUNCEMENT-COMPLETION OF CONVERSION AND REDEMPTION OF JONHON OPTRONIC CONVERTIBLE BONDS

11/06/2019 | 07:00am EST

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.

中國航空科技工業股份有限公司

AviChina Industry & Technology Company Limited*

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

(Stock Code: 2357)

VOLUNTARY ANNOUNCEMENT

COMPLETION OF CONVERSION AND REDEMPTION OF JONHON

OPTRONIC CONVERTIBLE BONDS

This announcement is made by AviChina Industry & Technology Company Limited (the "Company") on a voluntary basis.

Reference is made to the announcement made by the Company dated 8 November 2018, in relation to the issuance of convertible corporate bonds ("JONHON Optronic Convertible Bonds") by China Aviation Optical-Electrical Technology Co., Ltd. ("JONHON Optronic"), a subsidiary of the Company.

On 5 November 2018, JONHON Optronic issued JONHON Optronic Convertible Bonds in a total amount of RMB1.3 billion in a public manner. On 12 September 2019, JONHON Optronic Convertible Bonds triggered the conditional redemption term as agreed under the Offering Document in Relation to the Convertible Corporate Bonds to be Publicly Issued by China Aviation Optical-Electrical Technology Co., Ltd. As at the date of the announcement, all the unconverted JONHON Optronic Convertible Bonds, with a total par value of RMB2,304,300, have been redeemed by JONHON Optronic, representing 0.18% of the total issued JONHON Optronic Convertible Bonds.

As at the date of the announcement, the conversion and redemption of JONHON Optronic Convertible Bonds have been completed. The total share capital of JONHON Optronic has been increased by 42,035,940 A shares in aggregation due to the conversion of JONHON Optronic Convertible Bonds into shares. Among the subscription of JONHON Optronic Convertible Bonds by the Company in a total amount of RMB300 million, the Company has converted into 197,732 A shares of JONHON Optronic.

1

As at the date of the announcement, the total share capital of JONHON Optronic is 1,070,162,326 A shares. The Company holds 425,744,386 A shares, representing 39.78% of the total share capital of JONHON Optronic.

By Order of the board of directors

AviChina Industry & Technology Company Limited*

Xu Bin

Company Secretary

Beijing, 6 November 2019

As at the date of this announcement, the Board comprises executive Directors Mr. Chen Yuanxian and Mr. Wang Xuejun, non-executive Directors Mr. Yan Lingxi, Mr. Lian Dawei and Mr. Xu Gang as well as independent non-executive Directors Mr. Liu Renhuai, Mr. Liu Weiwu and Mr. Wang Jianxin.

  • For identification purposes only

2

Disclaimer

AviChina Industry & Technology Co. Ltd. published this content on 06 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 November 2019 11:59:09 UTC


© Publicnow 2019
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Financials
Sales 2020 46 998 M 7 253 M 7 253 M
Net income 2020 1 641 M 253 M 253 M
Net cash 2020 2 825 M 436 M 436 M
P/E ratio 2020 23,9x
Yield 2020 0,61%
Capitalization 46 078 M 7 111 M 7 111 M
EV / Sales 2020 0,92x
EV / Sales 2021 0,82x
Nbr of Employees 43 436
Free-Float 38,6%
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Mean consensus BUY
Number of Analysts 4
Average target price 5,29 CNY
Last Close Price 5,98 CNY
Spread / Highest target 5,03%
Spread / Average Target -11,4%
Spread / Lowest Target -25,3%
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Managers and Directors
NameTitle
Hong Wei Zhao General Manager
Qiang Zheng Chairman-Supervisory Board
Xue Jun Wang Chairman
Guo Fei Tao Chief Financial Officer & Deputy GM
Ren Huai Liu Independent Non-Executive Director
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