Zhuzhou Kibing Group expands R&D, revises articles, issues debt

Zhuzhou Kibing Group will invest in and establish a wholly-owned subsidiary, Shenzhen Qibin Technology Development Co., Ltd., with a registered capital of 10,000 million yuan, and a sub-subsidiary, Shenzhen Qibin Technology Development Co., Ltd., also with 10,000 million yuan, to strengthen its R&D and innovation. The company will also issue ultra-short-term financing bonds of up to 2,000 million yuan and medium-term notes of up to 1,000 million yuan to diversify funding channels.

Furthermore, Zhuzhou Kibing Group is waiving its preemptive rights to acquire a 13.75% stake in its holding subsidiary, Hunan Qibin Guangneng Technology Co., Ltd., for 47,345 million yuan. The employee stock ownership platform will transfer its 11.21% equity in Qibin Guangneng for 38,622 million yuan, with China Orient Asset Management Co., Ltd. becoming a strategic shareholder.

These changes necessitate revisions to the Company's Articles of Association, particularly regarding its registered capital, which will increase to 295,865.3728 million yuan due to the conversion of convertible bonds. The company also updated its governance policies, including changing the "Strategic and Sustainable Development Committee" to the "Strategic and Innovation Development Committee." All these matters will be submitted for shareholder approval at the upcoming 2025 Fifth Extraordinary General Meeting on December 29, 2025.