Grandway Advised Ningbo Yunsheng on Its Non-public Offering Approved by CSRC

On September 26, 2022, Ningbo Yunsheng Co., Ltd. (stock abbreviation: Ningbo Yunsheng, stock code: 600366) was unconditionally approved by CSRC at the 111th meeting of the 18th Issuance Appraisal Committee in 2022 for the application to issue convertible corporate bonds to unspecific investors.

Ningbo Yunsheng is a leading manufacturer of rare-earth permanent magnetic materials in China, whose main business is the R&D, manufacture and sales of rare-earth permanent magnetic materials. Its main products are high-performance sintered NdFeB permanent magnet materials with high remanent magnetic density, high coercivity and high magnetic energy product, which are widely used in automotive, aerospace, information storage, mobile intelligence, industrial motors, servo motors, healthcare, white goods, advanced audio and other fields.

The total proceeds to be raised from this non-public offering will not exceed RMB 1,045,000,000, which will be invested in the intelligently manufacturing project of annual production capacity of 15,000 tons of high performance rare earth permanent magnet materials of Ningbo Yunsheng’s subsidiary Baotou Yunsheng Technology Development Co., Ltd. This non-public offering is beneficial to enhance the overall profitability of Ningbo Yunsheng, improve the business layout, consolidate and strengthen the comprehensive competitiveness and industry influence of Ningbo Yunsheng in high performance sintered NdFeB industry.