CGN Power closes fundraising accounts after convertible bond issuance

CGN Power Co., Ltd. has announced the completion of the cancellation of its special fundraising accounts associated with the issuance of A-share convertible corporate bonds. This follows the China Securities Regulatory Commission's approval for the issuance of 49,000,000 convertible bonds, each with a face value of CNY 100, totaling CNY 4,900,000.00. The net proceeds, after deducting issuance expenses of CNY 215.81 (excluding VAT), amounted to CNY 4,897,84.19. These funds were deposited into the company’s designated accounts on July 15, 2025, and verified by KPMG Huazhen LLP on July 16, 2025.

The company’s board approved the use of these proceeds on July 21, 2025, to reimburse self-funded investments in the fundraising projects and previously paid issuance costs. Specifically, CNY 4,897,84.19 was used to replace self-funded project investments, and CNY 26.85 was used to replace self-funded issuance costs. Following these reimbursements, the remaining balance in the special fundraising accounts consisted of unpaid intermediary fees and interest income generated from the funds.

The company's account was closed with a balance of CNY 33.42, representing interest income, while the account opened by CGN Lufeng Nuclear Power was closed with a zero balance. All remaining funds have been transferred to the company’s own capital account and will continue to support the Guangdong Lufeng Nuclear Power Station Units 5 and 6 project. Consequently, the three-party regulatory agreements for these special fundraising accounts have been terminated.