Grandway Advised Hebang Biotechnology on Convertible Bond Issuance to Unspecified Investors Approved by SSE

On June 20, 2023, Sichuan Hebang Biotechnology Co., Ltd. (stock abbreviation: “Hebang Biotechnology”, stock code: 603077) was approved by the Listing Committee of Shanghai Stock Exchange at its 55th deliberation meeting in 2023 for convertible bond issuance to unspecified investors.

With “global first-class technology, first-class product quality, and first-class manufacturing cost” as the guiding ideology of development projects, Hebang Biotechnology has gradually completed the basic layout in three major fields: chemical, agriculture, and photovoltaic, relying on four major business products including United Soda, Bisglyphosate/Glyphosate, Methionine, and Photovoltaic and Glass. In the agricultural segment, Hebang Biotechnology focuses on the manufacture of intermediates of bisphosphon and raw glyphosate. Hebang Biotechnology is the only enterprise in the world that adopts a fully integrated process and large-scale plant to manufacture bisphosphon.

Hebang Biotechnology issued convertible bonds to unspecified investors to raise total funds not exceeding RMB 4600 million, which will be used for the annual production capacity of 500,000 tons of bisphosphonate project of Guang’an Bimeida Biotechnology Co., Ltd. This convertible bond project will help Hebang Biotechnology give full play to the advantages of advanced and green production technology of double glyphosate and professional operation team. After reaching production, Hebang Biotechnology will become a global leading enterprise of double glyphosate and glyphosate products, which will also substantially improve the comprehensive strength and profitability.