Zoomlion proposes HK$6.57 bn convertible bonds for global expansion

Zoomlion Heavy Industry Science and Technology Co. Ltd. announced a proposed issuance of convertible bonds with a principal amount of up to RMB6 billion. The bonds, convertible into H Shares, will have a five-year term with an annual yield to maturity rate of 1.8%. The initial conversion price is set at HK$9.75 per H Share, representing a 35.23% premium over the HK$7.21 closing price on October 28, 2025.

The net proceeds from the issuance will be equally split, with 50% allocated to global development strategies, including establishing overseas manufacturing bases, R&D centers, and marketing systems. The remaining 50% will support innovation-driven and high-quality product development strategies, focusing on advanced technologies such as robots, new energy, and intelligentisation. This financing aims to strengthen the company's R&D investment and expand its international business operations.

The proposal requires approval from shareholders at an extraordinary general meeting and class meetings. The company will also seek regulatory approvals and apply for the listing of new H Shares on the Hong Kong Stock Exchange.