325 million! Longli Technology continues to increase investment in Mini LED

On December 10, Longli Technology issued an announcement stating that it had reviewed and approved the "Proposal on Continuing to Use Part of Idle Raised Funds from Convertible Corporate Bonds to Temporarily Supplement Working Capital." The company plans to use idle raised funds not exceeding RMB 50 million to temporarily replenish working capital, with a period of use of no more than 12 months from the date of review and approval by the company's board of directors.

Approved by the China Securities Regulatory Commission's "Reply on Approving the Registration of Shenzhen Longli Technology Co., Ltd. to Issue Convertible Corporate Bonds to Unspecified Objects" (CSRC Permit [2020] 2494 (No.), and with the consent of the Shenzhen Stock Exchange, the company has issued 3.245 million convertible corporate bonds to unspecified objects, with a face value of 100 yuan each and a term of 6 years. Total funds raised The amount was RMB 325 million. After deducting the issuance expenses of RMB 6,744,400, the company’s actual net raised funds was RMB 318 million. Grant Thornton Accounting Firm (Special General Partnership) has verified the availability of funds for the company's issuance of convertible corporate bonds on November 5, 2020, and issued a capital verification report No. 441ZC00414 (2020) Grant Thornton Yanzi (2020). The company has adopted a special account storage system for raised funds, and signed a three-party supervision agreement for raised funds with the account opening bank and the sponsor institution.

The announcement shows that the funds raised by Longli Technology from this issuance of convertible corporate bonds will be used to invest in the following projects: