Lingyi iTech opens dedicated account for bond proceeds, project funds

Lingyi iTech (Guangdong) Company has opened a dedicated bank account for its raised funds to temporarily supplement working capital, following regulatory approval. The company successfully issued convertible bonds, raising a total of RMB 2,137,418,100.00. After deducting underwriting and sponsorship fees, the net proceeds amounted to RMB 2,116,023,100.01. These funds were received on November 22, 2024.

The company recently held its 14th meeting of the Sixth Board of Directors and the 12th meeting of the Sixth Board of Supervisors on June 17, 2025. This was followed by the second extraordinary general meeting and the first bondholders' meeting for "Lingyi Convertible Bonds" on July 4, 2025. These meetings approved adjustments to several investment projects, including modifications to the "Tianxin Manufacturing Center Construction Project" and the "Pinghu Manufacturing Center Construction Project."

To ensure compliance with fundraising regulations and protect investor interests, Lingyi iTech (Guangdong) Company, along with its subsidiaries Lingyi Technology (Shenzhen) Co., Ltd. and Dongguan Lingyi Precision Manufacturing Technology Co., Ltd., signed a three-party supervision agreement. The agreement is with Industrial and Commercial Bank of China, Shenzhen Fuyong Branch, and Guotai Haitong Securities Co., Ltd. It outlines terms for managing the dedicated accounts, ensuring funds are used exclusively for their intended purposes, and establishing oversight by the sponsor. As of October 31, 2025, several special accounts have been opened, primarily to support projects such as carbon fiber and heat dissipation precision component research and development, humanoid robot key components, and Pinghu base construction.