Sanyou Union announced plans to issue convertible corporate bonds to the public for the first time, raising total proceeds of no more than 660 million yuan. Each bond has a par value of 100 yuan, a term of six years, and pays interest once a year, with existing A-share shareholders entitled to priority subscription. The proceeds will be used for four projects: expansion and industrialization of signal relays, expansion of relays for photovoltaic energy storage and computing power, construction of a Vietnam production base, and expansion of magnetic latching relays, as well as 160 million yuan to supplement working capital. Among these, the Vietnam production base project has a total investment of nearly 231 million yuan, with 100 million yuan of the raised funds planned for it. On the same day, the company also announced plans to increase investment in its wholly owned overseas subsidiary Sanyou Electric Vietnam Company Limited using its own funds, self-raised funds, and proceeds from the convertible bonds, raising the investment amount from 80 million yuan to no more than 320 million yuan or the equivalent in foreign currency.
Sanyou Corporation LimitedSanyou Union plans its first convertible bond issuance of up to 660 million yuan, funding relay expansion projects and working capital.
Sanyou plans to raise investment in its wholly owned Vietnam subsidiary from 80 million yuan to no more than 320 million yuan.
