Zhenyu Technology launches CNY 1.88B convertible bond, a top-tier raise
What's the deal? Ningbo Zhenyu TechnologyDealroom has a profile for this one. Try Dealroom → launched a CNY 1.88 billion (roughly $278.8 million) convertible bond, with online subscription for the "Zhenyu Zhuan 02" issue opening on 17 August 2026. The offering comprises 18,800,000 bonds at a par value of CNY 100 each, issued at par.
How it works. Existing shareholders on the 14 August record date received priority allocation at CNY 7.7324 par value per share. Retail investors can subscribe through the Shenzhen exchange, with a minimum of 10 bonds and a cap of 10,000 bonds (CNY 1 million) per account. Winning subscribers must fund their accounts by 19 August.
Who's involved? GF SecuritiesDealroom has a profile for this one. Try Dealroom → is the sponsor and lead underwriter, handling the deal on a residual underwriting basis capped at 30% of the total, or CNY 564 million. The issue was registered with the China Securities Regulatory CommissionDealroom has a profile for this one. Try Dealroom → under approval document No. 1923.
Why it matters. The bonds carry no guarantee and convert only into newly issued shares. The offering gives the listed manufacturer a sizeable financing route without immediate share dilution, while the absence of collateral leaves repayment risk if its finances materially deteriorate during the bond's life.
The signal. Convertible bonds remain a financing route for China's listed mid-cap manufacturers, allowing companies to raise capital while deferring potential equity dilution.
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Image credit: Fagor Automation
