Ginlong Technologies secures funds with new oversight agreements

Ginlong Technologies announced the signing of tripartite and quadripartite agreements for the supervision of its recently raised funds. The company issued 16,765,838 convertible bonds, each with a face value of 100 yuan, raising a total of 1,676,583,800 yuan. After deducting underwriting, sponsorship fees, and other issuance-related costs, the net proceeds amounted to 1,662,172,238.71 yuan. These funds were deposited into designated accounts on October 23, 2025.

The raised capital is earmarked for several key projects, including high-voltage, high-power grid-tied inverter projects, large-power hybrid energy storage inverter projects, digitalization initiatives, and supplementing working capital. Subsidiaries Ningbo Ginlong Smart Energy Co., Ltd. and Shanghai Ousairuis New Energy Technology Co., Ltd. will utilize funds for distributed photovoltaic power stations and an R&D center, respectively.

The agreements involve the company, its subsidiaries, various banks including Industrial and Commercial Bank of China, China Construction Bank, Bank of China, Export-Import Bank of China, Agricultural Bank of China, and Bank of Communications, along with sponsor institution Guotai Haitong Securities Co., Ltd., ensuring strict oversight of fund storage and usage. These measures comply with regulatory requirements to protect investor interests and ensure efficient project implementation.