Tongling Jingda reduces convertible bond offering to 956m yuan

Tongling Jingda Special Magnet Wire Co. has updated its convertible bond issuance plans, reducing the proposed fundraising amount by 170.22 million yuan to 956.00 million yuan. This adjustment, approved on July 31, 2025, reflects the company's commitment to optimizing capital allocation while supporting its core business activities. The convertible bonds will have a term of six years, with an initial conversion price of 3.80 yuan per share, subject to adjustments.

The company’s latest financial data, including the 2025 semi-annual report, indicate robust operational performance, with operating income reaching 11.86 billion yuan and net profit at 319.42 million yuan. The average weighted return on net assets, after deducting non-recurring gains and losses, stood at 4.92%, meeting the regulatory threshold and demonstrating the company’s financial stability.

The issuance of convertible bonds aims to finance strategic projects, including a 40,000-ton new energy copper-based electromagnetic wire project (investment of 3.78222 billion yuan), a high-efficiency environmentally friendly aluminum-based electromagnetic wire project (investment of 6.2 billion yuan), an 80,000-ton new energy copper-based material project (investment of 2.8 billion yuan), and a new energy vehicle electromagnetic flat wire industrialization project (investment of 1.836496 billion yuan), alongside supplementing working capital. These investments are integral to expanding production capacity and enhancing market competitiveness.