Ginlong Technologies to issue RMB1.68 bn in convertible bonds

Ningbo Ginlong Technologies has announced an indicative issuance of convertible corporate bonds, totaling RMB1,676,583,800. The bonds, designated "Ginlong Bond 02" (code: 123259), will be issued at RMB100 per bond, with a total of 16,765,838 bonds. Existing shareholders on record by October 16, 2025 (T-1 day) will receive priority allocation, with any remaining bonds offered to the public via online subscription.

Existing shareholders are eligible for a priority allocation of RMB4.2186 worth of convertible bonds per share held, equating to 0.042186 bonds per share. The online public offering will use the subscription code "370763" and a minimum subscription of 10 bonds (RMB1,000) for "Ginlong Bond." Guotai Haitong Securities will underwrite any unsubscribed portion, up to a maximum of 30% of the total issuance, or RMB502,975,140.

The subscription period is scheduled for October 17, 2025 (T day), from 9:15-11:30 and 13:00-15:00. Investors should ensure sufficient funds for payment by October 21, 2025 (T+2 day), following the announcement of successful allocations. The company emphasizes that the bonds are not secured, posing a redemption risk if the company's operational or debt-servicing capacity deteriorates.