Ge Long Hui·2026-01-28 23:02Core Viewpoint - Zhonglian Heavy Industry (01157.HK) has entered into a subscription agreement to issue convertible bonds worth RMB 6 billion (approximately HKD 6.745 billion) with underwriters including Huatai International, HSBC, and Morgan Stanley [1] Group 1: Convertible Bonds Issuance - The company has agreed to issue convertible bonds to the underwriters, who will subscribe to the bonds under specific terms outlined in the subscription agreement [1] - The final terms of the convertible bonds, including principal amount and initial conversion price, were determined after the underwriters conducted book building on January 28, 2026 [1] Group 2: Conversion Details - If the convertible bonds are fully converted at the initial conversion price of HKD 10.02 per share, they will convert into approximately 673 million H-shares, representing about 43.36% of the company's total issued H-shares and 7.78% of the total issued share capital as of the announcement date [1] - The initial conversion price of HKD 10.02 per share is at a premium of approximately 18.58% compared to the last trading price of HKD 8.45 per share on the Hong Kong Stock Exchange [1] Group 3: Fundraising Expectations - The net proceeds from the issuance of the convertible bonds are expected to be approximately RMB 59.42 billion (around HKD 66.80 billion) [1]