China Industrial Securities sells bonds for $50.4m

China Industrial Securities International Financial Group Limited (HKEX: 6058) announced it has disposed of bonds with a principal amount of CNY50,000,000 (approximately HK$53,245,000 or $50.4 million) on February 10, 2025. The bonds were sold for a consideration of CNY47,303,333 (approximately HK$50,373,320), the seller was the firms investment arm. The issuer of the bonds is Linzhou City Investment Holding Co., Ltd. and are guaranteed by Chongqing Xingnong Financing Guarantee Group Co., Ltd. The bonds, which mature on January 10, 2028, carried a fixed interest rate of 7.50% per annum. This disposal resulted in a loss of CNY2,690,959 (approximately HK$2,865,602) for the Group. Proceeds from the sale are earmarked for the company's general working capital and potential new investments.