Ginlong Technologies adjusts bond conversion, reallocates capital

Ningbo Ginlong Technologies announced it will use raised funds totaling CNY 22.1078 million to replace self-funded capital previously invested in its fundraising projects. This decision, approved by the board, aligns with regulatory requirements, with the replacement occurring within six months of the funds' arrival. The company's major investment projects include high-voltage, high-power grid-connected inverters, large-scale hybrid energy storage inverters, and an intelligent upgrade project.

Concurrently, the company's board proposed a downward adjustment to the conversion price of its "Ginlong Convertible Bond 02." This action follows the bond's closing price falling below 85% of its current conversion price for at least 15 trading days over 30 consecutive trading days, triggering the adjustment clause. The initial conversion price of the bond, issued on October 23, 2025, was CNY 89.82 per share.

The proposal to adjust the bond's conversion price will be submitted for shareholder approval. The decision aims to optimize the capital structure and protect bondholders' interests, reflecting the company’s strategic financial management.