Shenzhen Huaqiang Industry Co., Ltd. announced a private placement of not more than CNY 2,000,000,000 on June 3, 2023. The company will issue exchangeable non-convertible bonds in the transaction. The company will raise the money in tranches.

The first tranche is expected to be no more than CNY 1,000,000,000. The bonds have a initial exchange price is CNY 31 per share. The Shenzhen Stock Exchange has no objection to the fact that the bonds meet the listing conditions of the Shenzhen Stock Exchange.

The company will promptly disclose the completion of the aforementioned guarantee and trust registration and the follow-up matters of the exchangeable bond issuance in strict accordance with relevant regulatory regulations. The trustee manager of this bond, China Securities Investment Securities, as the nominal holder, is used to provide guarantees for the exchange of shares of the current bond holders and the repayment of the principal and interest of the current bond.