Huaqiang Group to pledge shares for 1.3 bn yuan exchangeable bonds

Shenzhen Huaqiang Group, controlling shareholder of Shenzhen Huaqiang Industry, plans to issue non-public exchangeable corporate bonds to professional investors, with a total value not exceeding RMB 1.3 billion. The Shenzhen Stock Exchange issued a no-objection letter for this issuance, valid for 12 months.

To facilitate the bond issuance, Huaqiang Group will pledge 87,000,000 shares of Shenzhen Huaqiang Industry. These shares, representing non-restricted tradable shares, will be held in a dedicated securities account by Jinyuan United Securities Co.

As of the announcement date, Huaqiang Group holds 727,888,840 shares, constituting 69.59% of the company's total share capital. The pledged shares represent 11.95% of Huaqiang Group's total holdings and 8.32% of Shenzhen Huaqiang Industry's total share capital.