Liugong subsidiary gets green light for ABS listing on Shanghai Stock Exchange

Guangxi Liugong Machinery Co., Ltd. announced that its wholly-owned subsidiary, Zhongheng International Leasing Co., Ltd., has received a "No Objection Letter" from the Shanghai Stock Exchange for the listing and transfer of its "Zhongheng International Leasing No. 3 Phase 1-6 Asset-Backed Specific Plan Asset-Backed Securities." This approval follows resolutions from company board and shareholder meetings in April and May 2023, which authorized bond-type financing tools with a revolving credit line not exceeding CNY 2 billion.

The asset-backed securities will be issued in tranches. The non-revolving type will have a total issuance amount not exceeding CNY 3 billion. Revolving asset-backed securities will have a zero outstanding balance for each tranche. The first tranche must be issued within 12 months from the date of the letter, which is valid for 24 months.

Zhongheng International Leasing is required to complete the issuance according to the submitted documents within the validity period. The company and its subsidiary will adhere to all relevant laws, regulations, and the requirements of the Shanghai Stock Exchange's no objection letter, fulfilling information disclosure obligations.