Zhifei Biological gets green light for up to 1 bn yuan in innovation bonds

Chongqing Zhifei Biological Products Co., Ltd. recently announced that the China Securities Regulatory Commission (CSRC) has approved its registration application to publicly issue technology innovation corporate bonds to professional investors. The approval permits the company to issue bonds with a total face value not exceeding 1 billion yuan.

The company is authorized to proceed with the issuance in accordance with the prospectus submitted to the Shenzhen Stock Exchange. This approval remains valid for 24 months from the registration date, allowing Zhifei Biological Products to conduct the issuance in tranches.

The board of directors will decide on the timing of the bond issuance based on market conditions and funding requirements, as authorized by the shareholders. The company must also promptly report any significant events occurring between the approval date and the completion of the bond issuance.