Hubei Dinglong shifts funds to new R&D and manufacturing project

Hubei Dinglong Holdings announced the establishment of new dedicated fundraising accounts and the signing of a tripartite supervision agreement. This follows a decision on October 31, 2025, to redirect unutilized proceeds from its "Optical Semiconductor Material Upstream Key Raw Material Domestic Production Industrial Base Project" to the "Optical Semiconductor Material R&D and Manufacturing Center Project." The company's total raised capital from its convertible bonds issued on April 2, 2025, amounted to 910,000,000 yuan. After deducting issuance fees of 12,882,199.14 yuan (excluding tax), the net raised capital was 897,117,800.86 yuan.

A new specialized account for the "Optical Semiconductor Material R&D and Manufacturing Center Project" has been opened with China Merchants Bank Co., Ltd. Wuhan Branch. The tripartite supervision agreement involves Hubei Dinglong (Party A), China Merchants Bank Co., Ltd. Wuhan Branch (Party B), and China Merchants Securities Co., Ltd. (Party C) as the sponsor institution.

The agreement stipulates that the dedicated account will be used exclusively for the specified project, and Party C will supervise the use of funds. Party C will conduct semi-annual on-site inspections and has the right to investigate and inquire about the funds' status, ensuring transparency and compliance with relevant regulations.