Poly Developments gets key approval for convertible bond issuance

Poly Developments and Holdings Group Co., Ltd. announced it has obtained approval from the competent state-owned assets regulatory authority, China Poly Group Corporation Limited, for its proposed non-public issuance of convertible corporate bonds to specific objects in 2025. This approval allows the company to proceed with an issuance totaling no more than RMB 50 bn.

The decision to pursue this issuance was initially made at the company's 11th extraordinary board meeting on December 12, 2025, where related proposals for the 2025 non-public issuance of convertible company bonds were deliberated and approved.

The proposed convertible bond issuance still requires further approval from the company's shareholders' meeting and subsequently from the China Securities Regulatory Commission (CSRC) and other relevant securities regulatory departments. The company is committed to actively advancing these processes and fulfilling its information disclosure obligations in a timely manner.