Tongling Jingda updates convertible bond offering with new financial data

Tongling Jingda Special Magnet Wire Co., Ltd. released a revised prospectus for its convertible corporate bond offering, including financial data for the first half of 2025. The company plans to issue convertible bonds not exceeding 956 million yuan, with proceeds allocated to several projects, including a "40,000 tons of new energy industrial copper-based electromagnetic wire project," and "supplementary working capital." This update follows a regulatory review by the Shanghai Stock Exchange.

The company's core business is electromagnetic wire R&D, manufacturing, and sales, with products used in industrial motors, power equipment, and new energy vehicles. The convertible bonds will have a term of six years, with an initial conversion price of 3.80 yuan per share, adjusted to 3.35 yuan per share as of May 8, 2025, reflecting dividend distributions. The company's credit rating is AA.

The proceeds from the convertible bond issuance will expand the company’s business scale, improve financial strength, and enhance market competitiveness. This strategy is expected to contribute to the company's sustainable growth and long-term profitability by funding strategic projects.