Yantai Eddie Precision changes sponsor representative for convertible bond oversight

Yantai Eddie Precision Machinery Co., Ltd. announced a change in its continuous supervision sponsor representative for its 2021 publicly issued convertible bonds. MinSheng Securities Co., Ltd., the sponsor institution for the convertible bonds, confirmed the replacement of Li Xiaodong with Chen Dongyao. Chen Dongyao will join Qu Wenlei as the new sponsor representative.

The statutory continuous supervision period for the convertible bonds was originally set to conclude on December 31, 2023. However, due to unspent proceeds, MinSheng Securities is required to continue its oversight until all funds are utilized, in accordance with regulations from the China Securities Regulatory Commission and the Shanghai Stock Exchange. Chen Dongyao, a vice president in the investment banking division at MinSheng Securities, is a certified sponsor representative, non-practicing CPA, and holds legal professional qualifications.

Chen Dongyao has a strong background, having participated in several IPOs and refinancing projects. The company's continuous supervision by Chen Dongyao and Qu Wenlei will persist until regulatory obligations set by the China Securities Regulatory Commission and the Shanghai Stock Exchange are fulfilled.