Jiangsu Eastern Shenghong sees 10% convertible bond holding shift

Jiangsu Eastern Shenghong announced that its controlling shareholder, Jiangsu Shenghong Technology Co., Ltd., and its concerted parties sold 5,449,357 shares of "Shenghong Convertible Bonds" between August 23, 2022, and December 25, 2025, representing 10.90% of the total issuance. This transaction decreased their combined holdings from 64.18% to 53.28% of the total convertible bonds.

In parallel, the company projects RMB 124.423 bn in mutual guarantees for 2026, encompassing guarantees for subsidiaries, by subsidiaries, and among subsidiaries. This amount exceeds 100% of the company's 2024 net assets attributable to shareholders. Additionally, Jiangsu Eastern Shenghong forecasts 2026 daily related-party transactions totaling RMB 358.205 m with entities controlled by its actual controller, and RMB 5,364.3392 m with entities controlled by relatives of its actual controller. These projections were approved by the board, with independent directors also reviewing the related-party transactions.