Tongyu Heavy Industry Successfully Complete the Early Put-Back of Two Tranches of Corporate Bonds and Actively Optimize the Financial Structure

        On the evening of March 9, 2021, Tongyu Heavy Industry Co., Ltd. (hereinafter referred to as the "Company") issued an announcement: the corporate bonds publicly issued in 2018 (second tranche) and the corporate bonds publicly issued in 2018 (third tranche) (hereinafter referred to as " Two corporate bonds”) are completed the early put-back.The total issuance scale of the two corporate bonds is 500 million yuan, the total completed in advance of the put-back is 479.3 million yuan, and the success rate of put-back is nearly 96%.The early put of the two corporate bonds is expected to save more than 26 million yuan in financial expenses, and further optimize the financial structure of the company.

        In 2020, Tongyu heavy industry become a member of the zhuhai port group family,. Relying on the credit advantages of state-owned listed companies, the financing team actively carried out multiple rounds of communication with commercial banks and financing factoring institutions. With the strong support of Zhuhai Port Group factoring, financing leasing, supply chain and other brother enterprises, the financing structure of Tongyu heavy industry has been significantly improved, and new financing cost has been below the RMB loan benchmark interest rate.

        The coupon rate of the two corporate bonds issued by the company in 2018 is 7.5%, which is significantly higher than the current average financing cost, and the longest duration is to the end of 2023.In view of this situation, under the authorization and leadership of the board of directors, the General Manager’s Office led the company’s financing team to work closely with intermediary agencies, and actively conducted multiple rounds of communication with regulators and bondholders on the put issue, and finally received support from all parties.After the implementation of the prescribed procedures, Tongyu successfully completed the early put of the two corporate bonds, which is expected to save more than 26 million yuan in financial expenses.In the era of wind power parity access to the Internet in 2021 ,The company will seize the important historical opportunity that the "National New Energy Strategy" is promoted the implementation,take full advantage of the opportunity of the recent increase of the shareholding ratio of state-owned shareholders to 20.34%, increase the communication with financial institutions and rating agencies, strive to continue to optimize the credit, reduce the comprehensive financing cost, and actively plan to use the direct investment of multi-level capital market. Tongyu will continue to promote the research and development and manufacturing of green energy equipment manufacturing fields such as wind power, hydro-power, nuclear waste treatment and biomass power generation, and strive to realize the sustainable and healthy development of the company!