Convertible Bond Issuance and Roadshow
Ginlong Technologies Co., Ltd. (ticker 300763 on the Shenzhen Stock Exchange) announced on 15 October 2025 that it would begin a public offering of a new series of convertible company bonds, designated “锦浪转 02” (bond code 123259).
The offering is scheduled for subscription on 17 October 2025 and will be listed on the Shenzhen Stock Exchange.
Key details of the issuance are:
| Item | Detail |
|---|---|
| Total amount | ¥1,676,583.8 million (including principal) |
| Face value per bond | ¥100 |
| Number of bonds | 16,765,838 |
| Pricing | At par value |
Shares of the issuer are available for pre‑subscription by existing shareholders via the Shenzhen Stock Exchange system (code 380763, “锦浪配债”). Public investors may subscribe for the remaining allocation through the online system (code 370763, “锦浪发债”). A virtual roadshow was scheduled for 16 October 2025, 15:30–16:30, to be accessed through the online platform valueonline.com.
Third‑Quarter 2025 Financial Performance
On 15 October 2025, Ginlong released its third‑quarter earnings report for 2025. The company reported the following highlights:
| Metric | Q3 2025 | YoY Change |
|---|---|---|
| Total revenue | ¥5.663 billion | +9.71 % |
| Net profit attributable to shareholders | ¥866 million | +29.39 % |
| Basic earnings per share | ¥2.19 | – |
| Operating cash flow | ¥1.707 billion | – |
| Total assets | ¥20.002 billion | – |
| Total debt‑to‑equity ratio | 54.48 % | – |
| Gross margin | 36.04 % | – |
| Return on equity | 9.50 % | – |
The company’s operating activities generated a net cash inflow of ¥1.707 billion, and the total revenue of ¥5.663 billion represented a 9.71 % increase from the same period in the previous year. Net profit rose by 29.39 % to ¥866 million, supported by higher sales of string inverters and distributed photovoltaic equipment.
Institutional Shareholder Activity
During the same period, institutional ownership of Ginlong’s shares changed noticeably:
- The combined holdings of the top six institutional investors reached 12.26 % of the total share capital, a decline of 4.72 percentage points from the prior quarter.
- The largest institutional holder remains Ginlong Holdings Co., Ltd. with 31.32 million shares (9.74 % of shares).
- Other significant holders include Lin Yibei, Wang Yiming, and Wang Junshi, each holding between 6.6 % and 7.8 % of shares.
- Foreign investors, represented mainly by Hong Kong Central Securities Clearing Co., Ltd., saw a modest reduction in holdings.
The top ten circulating shareholders also experienced shifts:
- Photovoltaic ETF entered the top ten with 2.723 million shares (0.85 % of circulating shares).
- Tianhong Zhongzhen Photovoltaic A added 1.83 million shares (0.57 %).
- Guangfa Advanced Manufacturing Stock A and China International Financial Co., Ltd. exited the top ten, reducing their circulating shares by 2.18 % and 1.85 %, respectively.
- Several funds reduced their circulating holdings, notably Hong Kong Central Securities Clearing Co., Ltd. (down 5.37 %) and EID Fund of the China Stock Exchange ETF (down 14.50 %).
Company Profile Context
Ginlong Technologies specializes in the design, manufacture, and sale of string inverters and related electrical equipment for the solar energy industry. The firm operates two core business lines: inverter manufacturing and distributed photovoltaic power generation. The company’s assets are valued at approximately ¥34.99 billion, with a market capitalization of the same amount. Its price‑to‑earnings ratio stands at 37.28, and the company’s stock traded at ¥87.90 as of 13 October 2025, close to the 52‑week high of ¥99.86.
The recent convertible bond issuance and the robust Q3 earnings reflect Ginlong’s continued expansion in the renewable energy sector and its focus on leveraging technology to promote clean energy worldwide.
