Guantao Law Firm advises Shenzhen Kinwong Electronic Co., Ltd. gain approval for issuing convertible bonds project
On 1 February 2023, the Shenzhen Office of Guantao Law Firm helped Shenzhen Kinwong Electronic Co., Ltd. (“Kinwong Electronic”) get the reply of approval from China Securities Regulatory Commission for its public issue of convertible bonds. This issue reached 1.154 billion yuan with a term of 6 years.
Kinwong was founded in 1993 and listed on the main board of Shanghai stock exchange (stock code: 603228). Kinwong is the world’s leading high-tech company in R&D, production and sales of printed circuit boards and high-end electronic materials. As one of the world’s largest printed circuit board suppliers, they have set up 11 offices worldwide to provide localized & real-time FAE services. Kinwong’s annual revenue is 1.569 billion USD in 2022, ranking 17st in the PCB industry globally, and ranking third in the 2021 China Top 100 Domestic-funded PCB manufacturers.
The convertible bonds issuance of Kinwong Electronic was expected to be less than 1.154 billion yuan, which will all be used for the phase I project of Kinwong Electronic Technology (Zhuhai) Co., Ltd. - annual output of 600,000 m2 high density interconnect printed boards. After the completion, it will increase the company’s HDI capacity and produce HDI boards for cellphones, consumer electronics, 5G communication devices, automobile electronics, Mini LED and so on. This project will level up the company in various aspects, including size, production capacity, product portfolio, and technical strength, enforcing the company’s core competitiveness and market position.
Attorney HUANG Yaping, attorney LUO Zengjin, both partners at the Shenzhen Office, and legal intern LIANG Jiage provided legal service for Kinwong Electronic throughout the process. Their expertise, strong execution, as well as effective, rigorous, and reliable work have won the trust of the client and partners.