JCHX Mining secures AA rating for convertible bond issuance

JCHX Mining Management has received an AA credit rating and a stable outlook from China Lianhe Credit Rating Co., Ltd. for its convertible corporate bonds. The company plans to issue CNY 200,000.00 in convertible bonds, an issuance approved by the Shanghai Stock Exchange and registered with the China Securities Regulatory Commission (CSRC).

The bonds will have a six-year term, maturing on September 25, 2031, with an initial conversion price of CNY 63.46 per share. Subscription opens on September 26, 2025 (T-day), from 9:30 AM to 3:00 PM (Beijing time). Existing shareholders can preferentially subscribe for 0.003206 units per share, with any remaining unsubscribed portion offered to the public online. The offering is expected to be finalized on October 9, 2025 (T+3 day), with a total issuance of 20,000,000 shares.

The proceeds will be primarily allocated to the Lubambe copper mine (technical transformation) project ($80,000.00), mining and infrastructure equipment procurement ($80,000.00), and research and development for intelligent green underground equipment ($8,000.00). An additional $32,000.00 will be used to supplement working capital. The company also announced a partial release of 9,600,000 pledged shares by its controlling shareholder, JCHX Mining Group Co., Ltd., reducing the pledged percentage to 5.29% of the total share capital.