SUZHOU TIANMAI THERMAL TECHNOLOGYPlans to issue convertible bonds for smart manufacturing project and acquire Hainan Siyang to expand business.

Suzhou Tianmai announced that its board of directors has approved a plan to issue convertible corporate bonds to non-specific investors, with total proceeds not exceeding 786 million yuan. The funds will be used for the first phase of the Suzhou Tianmai thermal conductive and heat dissipation product smart manufacturing base in Luzhi. Each bond has a face value of 100 yuan, a term of six years, and an initial conversion price of 267.33 yuan per share. In addition, the company plans to conduct foreign exchange hedging business with an amount not exceeding the equivalent of 300 million US dollars, and intends to acquire 100% equity of Hainan Siyang with cash, thereby indirectly holding a 51% stake in Zhongleng Technology, in order to expand its high- and low-temperature smart equipment business in the pan-semiconductor sector.
SUZHOU TIANMAI THERMAL TECHNOLOGYPlans to issue convertible bonds for smart manufacturing project and acquire Hainan Siyang to expand business.
Suzhou Tianmai's acquisition of Hainan Siyang indirectly gives it a 51% stake in Zhongleng Technology, expanding its business.
Suzhou Tianmai plans to acquire 100% equity of Hainan Siyang, making it a wholly owned subsidiary.