China Baoli Technologies Holdings Limited announced that it has entered into the subscription agreement with the subscriber to issue convertible bonds for the gross proceeds of HKD 23,255,813.96 on March 29, 2023. The bonds have an interest rate of 2%. The bonds are converted into no more than 10,335,917 conversion shares based on the initial conversion price of HKD 0.225 upon full conversion.

The transaction has been approved by the shareholder's of the company.