Lingyun Industrial's controlling shareholder gets nod for exchangeable bond issue

Lingyun Industrial Corporation announced that its controlling shareholder, Lingyun Group, received approval from China North Industries Group Corporation Limited to issue non-public exchangeable corporate bonds. These bonds, with Lingyun Industrial’s A-shares as underlying assets, will not exceed CNY 500 million. This move awaits application submission to the Shanghai Stock Exchange, with the final issuance plan contingent on market conditions at the time.

In related news, Lingyun Industrial held its second extraordinary general meeting on December 16, 2025. During this meeting, shareholders approved resolutions including the appointment of the 2025 auditing firm and the 2026 daily related party transaction forecast. Additionally, a resolution concerning the conclusion of some fundraising projects and the permanent allocation of remaining funds to working capital was also passed.

The meeting saw 580 shareholders and proxies in attendance, representing 473,271,955 shares and 38.7178% of the company's voting shares. The resolutions were passed with significant majorities, despite the controlling shareholder, Lingyun Group, abstaining from voting on the related party transactions as required.