Core Viewpoint - The controlling shareholder of Lingyun Industrial Co., Ltd., Northeast Lingyun Industrial Group Co., Ltd., plans to issue privately placed exchangeable bonds backed by its shares in the company [1][2]. Group 1: Exchangeable Bonds - Lingyun Group intends to issue exchangeable bonds using 50,000,000 shares of Lingyun Industrial as collateral and trust property [1]. - The bonds are aimed at ensuring timely repayment of principal and interest to bondholders [1]. Group 2: Shareholding and Registration - As of February 10, 2026, the collateral and trust registration for the shares has been completed, with the shares transferred to a dedicated account managed by CITIC Securities [2]. - After the registration, Lingyun Group holds a total of 339,980,342 shares, representing 27.82% of the company, along with an additional 50,000,000 shares in the trust account, accounting for 4.09% [2]. - The completion of this registration will not change the controlling shareholder or actual controller, nor will it constitute a tender offer [2].

公司收到凌云集团通知，2026 年 2 月 10 日，凌云集团与本次可交换债券 受托管理人中信建投证券股份有限公司（以下简称"中信建投证券"）在中国 证券登记结算有限责任公司已办理完成股票的担保及信托登记，将凌云集团持 有的公司股票共计 50,000,000 股，划入"凌云集团-中信建投证券-凌云 KEB 担 保及信托财产专户"（以下简称"担保及信托专户"），由中信建投证券作为 名义持有人，并以担保及信托专户作为证券持有人登记在公司证券持有人名册 上。在行使担保及信托登记的股份表决权时，中信建投证券将根据凌云集团的 意见办理，但不得损害本次可交换债券持有人的利益。 证券代码：600480 证券简称：凌云股份 编号：2026-004 凌云工业股份有限公司 关于控股股东拟非公开发行可交换公司债券 办理完成持有股份担保及信托登记的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 凌云工业股份有限公司（以下简称"公司"）控股股东北方凌云工业集团 有限公司（以下简称"凌云集团"）拟以其持有的部分本公司股票为标的非公 开发行可交换公司 ...

Report Summary 1. Report Industry Investment Rating No information about the industry investment rating is provided in the report. 2. Core View The report regularly sorts out the latest information on private exchangeable bond (private EB) projects obtained from public channels and conducts basic element tracking on private exchangeable bond projects. It also lists the new project information for the week from February 2, 2026, to February 6, 2026 [1]. 3. Summary by Related Catalogs New Project Information This Week - The project of North China Lingyun Industry Group Co., Ltd. to privately issue exchangeable corporate bonds to professional investors in 2026 has been approved by the exchange. The proposed issuance scale is 500 million yuan, the underlying stock is Lingyun Co., Ltd. (600480.SH), the lead underwriter is CITIC Construction Securities, and the exchange update date is January 30, 2026 [1]. - The project of Shenzhen Huaqiang Group Co., Ltd. to privately issue exchangeable corporate bonds to professional investors in 2026 has received feedback from the exchange. The proposed issuance scale is 2.4 billion yuan, the underlying stock is Shenzhen Huaqiang (000062.SZ), the lead underwriter is Jinyuan United Securities, and the exchange update date is February 4, 2026 [1]. - The project of Hubei Angel Biotechnology Group Co., Ltd. to privately issue exchangeable corporate bonds to professional investors in 2026 has been accepted by the exchange. The proposed issuance scale is 1 billion yuan, the underlying stock is Angel Yeast Co., Ltd. (600298.SH), the lead underwriter is Huatai United Securities, and the exchange update date is February 5, 2026 [1]. Overall Project Status Table The table shows the status of multiple private exchangeable bond projects, including the bond name, lead underwriter, scale, underlying stock, project status, and update date. Projects are in different statuses such as "Passed", "Feedback Received", and "Accepted" [3].

Core Viewpoint - The company, Lingyun Industrial Co., Ltd., announced that its controlling shareholder, Northern Lingyun Industrial Group Co., Ltd., plans to issue a non-public exchangeable bond totaling up to 500 million yuan, backed by a portion of its A-share stock holdings [1][2]. Group 1: Bond Issuance Details - The exchangeable bonds will be secured by stocks held by Lingyun Group, which will be managed by CITIC Securities as the trustee [2]. - A total of 50 million shares, representing 4.09% of the company's total issued share capital, will be placed into a trust account for the bond issuance [2][3]. - The bond issuance has received approval from the Shanghai Stock Exchange, confirming that it meets the conditions for listing and transfer [1]. Group 2: Shareholding Structure Post-Issuance - After the completion of the trust registration, Lingyun Group will directly hold 339,980,342 shares, which is 27.82% of the company, while the shares in the trust account will account for 4.09% [3]. - The issuance of the bonds and the trust registration will not change the controlling shareholder or actual controller of the company, nor will it constitute a takeover bid [3]. Group 3: Ongoing Monitoring - The company will continue to monitor the progress of the bond issuance and fulfill its information disclosure obligations to investors [3].

1 凌云工业股份有限公司（以下简称"公司"）近日收到控股股东北方凌云 工业集团有限公司（以下简称"凌云集团"）通知，凌云集团已获得上海证券 交易所（以下简称"上交所"）出具的《关于对北方凌云工业集团有限公司非 公开发行可交换公司债券挂牌转让无异议的函》（上证函〔2026〕498 号）， 凌云集团以其持有的公司部分 A 股股票为标的，面向专业投资者非公开发行总 额不超过 5 亿元的可交换公司债券符合上交所的挂牌转让条件，上交所对其挂 牌转让无异议。 本次可交换公司债券发行将采取股票担保及信托形式，凌云集团以其合法 拥有的公司部分 A 股股票作为担保及信托财产并办理相关担保及信托登记，以 保障本次可交换公司债券持有人交换标的股票和本次可交换公司债券本息按照 约定如期足额兑付。根据《中国证券登记结算有限责任公司可交换公司债券登 记结算业务细则》等的相关要求，办理担保及信托登记的主要内容如下： 1.凌云集团与本次可交换公司债券受托管理人中信建投证券股份有限公司 （以下简称"中信建投证券"）签署了《担保及信托合同》及《担保及信托合 同补充协议（一）》，约定将其所持有的标的股票及其孳息作为信托财产委托 给中信建投证券，用 ...

Group 1 - The core point of the article is that Lingyun Co., Ltd. has received a no-objection letter from the Shanghai Stock Exchange regarding the non-public issuance of exchangeable bonds by its controlling shareholder, Northern Lingyun Industrial Group [1] - Northern Lingyun Industrial Group plans to issue exchangeable bonds totaling no more than 500 million yuan, which will be underwritten by CITIC Construction Investment Securities Co., Ltd. [1] - The bonds will be issued in installments, and the issuance must be organized within 12 months from the date of the no-objection letter [1] Group 2 - As of the announcement date, Northern Lingyun Industrial Group holds 390 million shares of Lingyun Co., Ltd., accounting for 31.91% of the total share capital of the company [2]

证券代码：600480 证券简称：凌云股份 编号：2026-002 凌云工业股份有限公司 关于控股股东发行可交换公司债券获得 上海证券交易所无异议函的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 凌云工业股份有限公司（以下简称"公司"或"本公司"）近日收到控股 股东北方凌云工业集团有限公司（以下简称"凌云集团"）通知，凌云集团已 获得上海证券交易所（以下简称"上交所"）出具的《关于对北方凌云工业集 团有限公司非公开发行可交换公司债券挂牌转让无异议的函》（上证函〔2026〕 498 号）（以下简称"《无异议函》"），凌云集团面向专业投资者非公开发 行可交换公司债券符合上交所挂牌转让条件，上交所对其挂牌转让无异议，并 在《无异议函》中就有关事项明确如下： 凌云集团面向专业投资者非公开发行总额不超过 5 亿元的可交换公司债券， 由中信建投证券股份有限公司承销。本次债券采取分期发行方式，凌云集团应 在《无异议函》出具之日起 12 个月内，按照报送上交所的相关文件组织发行。 《无异议函》自出具之日起 12 个月内有效。 截至本公 ...

Core Viewpoint - Lingyun Co., Ltd. is participating in the establishment of a private equity fund focused on humanoid robotics, contributing 100 million yuan as a limited partner, which represents 5% of the total fund investment [1][2] Group 1: Investment Details - Lingyun Co., Ltd. will invest 100 million yuan in the "Xiamen Binkai Shunqing Investment Partnership (Limited Partnership)" as a limited partner [1] - The total subscription amount for the "Shunxin Humanoid Robotics Private Equity Fund" is 2 billion yuan, with a duration of 8 years [2] - The fund's first phase will involve an initial investment of 30 million yuan from Lingyun Co., Ltd. [1] Group 2: Fund Composition and Partners - The fund's investors include 14 limited partners, with significant contributions from companies like Zhongbing Investment Management Co., Ltd. and Beifang Night Vision Technology Co., Ltd. [1][2] - Binkai Shunqing is the largest contributor to the fund, with a subscription amount of 520 million yuan, accounting for 26% of the total [2] Group 3: Investment Focus and Strategic Implications - The fund will primarily invest in unlisted companies within the humanoid robotics sector, covering areas such as execution systems, perception systems, AI algorithms, and core materials [2] - Lingyun Co., Ltd. aims to enhance its strategic layout in the intelligent robotics component sector and strengthen collaboration within the industry ecosystem through this investment [2]

Core Viewpoint - The company plans to participate in the establishment of a private equity investment fund focused on the intelligent robotics industry, collaborating with other investors and a fund management company [2][27]. Group 1: Investment Details - The company will invest CNY 100 million as a limited partner in the "Xiamen Binkai Shunqing Investment Partnership (Limited Partnership)" which will invest in the "Shunxin Embodied Intelligent Robot Equity Investment Fund" [2][4]. - The total capital commitment for the intelligent robotics fund is CNY 2 billion, with the company’s contribution representing 5% of the total [4][18]. - The initial capital contribution will be CNY 30 million, which is 30% of the company's total commitment [4][20]. Group 2: Fund Management and Structure - The fund will be managed by Zhongbing Shunjing Equity Investment Management Co., Ltd., which is registered as a fund manager with the China Securities Investment Fund Industry Association [3][6]. - The fund will have a duration of 8 years, with the first 4 years designated as the investment period [20][27]. - The investment decision-making will be overseen by an investment decision committee composed of members from the general partner and external experts [12][13]. Group 3: Strategic Implications - The establishment of the fund aligns with national industrial development goals and aims to enhance the company's strategic positioning in the intelligent robotics sector [4][27]. - The investment is expected to strengthen collaboration within the industry ecosystem and provide reasonable investment returns, benefiting the company's future growth and shareholder interests [27][28].

Core Viewpoint - Lingyun Industrial Co., Ltd. plans to invest 100 million yuan in establishing an equity investment fund focused on embodied intelligent robots, indicating a strategic move towards the robotics sector and enhancing its investment portfolio [1][3]. Group 1: Investment Details - The total committed capital for the intelligent robot fund is 2 billion yuan, with Lingyun's investment representing 5% of the total [1]. - The fund will be managed by Zhongbing Shunjing, which has already registered two industry funds with a total scale of 5.6 billion yuan and has invested over 5 billion yuan [2]. - The fund's investment period is set for 8 years, with the first 4 years designated for investment and the remaining period for exit, allowing for extensions [2]. Group 2: Industry Context - The field of embodied intelligent robots is gaining traction, with multiple funds established since 2025, collectively exceeding 10 billion yuan in scale [2]. - The fund will focus on unlisted companies in the humanoid robot sector, covering the entire value chain from execution systems to AI algorithms [3]. - The investment aligns with the trend of traditional manufacturing companies leveraging industry funds to access cutting-edge technologies, which can complement existing capabilities in automotive sensor technology [3][4]. Group 3: Strategic Implications - Lingyun's participation in the fund is aimed at broadening investment channels and enhancing strategic cooperation within the robotics ecosystem, which is expected to empower future growth and yield reasonable returns [3]. - The investment strategy reflects a shift towards integrating advanced technologies into traditional manufacturing, although it carries risks related to long investment cycles and uncertain returns [4].