GRG Banking to issue CNY 500m in innovation bonds

Guangzhou-based GRG Banking Equipment (SZSE:002152) announced its intention to publicly issue science and technology innovation corporate bonds (first phase) in 2025, targeting professional investors for a total value not exceeding CNY 500 million. The move is part of a larger plan approved in April 2024 to issue bonds up to CNY 2 billion. The bonds, with a three-year term and a yet-to-be-determined coupon rate, will be listed on the Shenzhen Stock Exchange. Proceeds will be allocated towards equity investments aimed at boosting its innovation capabilities. As of the first quarter of 2025, GRG Banking maintained a strong financial position, and continues to meet conditions for public bond issuance. While facing some industry and market related risks, GRG Banking expresses dedication to comply with relevant regulations and maintaining transparency to safeguard investor interests.