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SHA:605589

6 stories mentioning SHA:605589Updated 30d ago

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Asia

Jinan Shengquan to Register Underwritten Amount of 2.5 Billion Yuan Bonds

Jinan Shengquan Group (SHA:605589) will register the underwritten bonds of the 2.5 billion yuan Shengquan Convertible Bonds with the Shanghai Branch of China Securities Depository and Clearing, according to a Shanghai bourse filing on Wednesday.The underwritten amount was 9.7 million yuan, representing 0.39% of the bonds.Guojin Securities served as the underwriter for the bonds.The resin manufacturer's shares fell 2% during the afternoon trade.

SHA:605589
Asia

Jinan Shengquan Holds Online Subscription for 2.50 Billion Yuan Convertible Bonds; Shares Up 10%

Jinan Shengquan Group (SHA:605589) conducted the online subscription for convertible bonds worth 2.50 billion yuan on Thursday, according to a Shanghai bourse filing.Registered shareholders may subscribe for convertible bonds based on 2.96 yuan of convertible bonds per share.Guojin Securities will underwrite any unsubscribed portion of the convertible bond, with the underwriting commitment not exceeding 30% of the issuance or 750 million yuan.The resin manufacturer's shares jumped 10% during the afternoon trade.

SHA:605589
Asia

Chinese Shares Fall on Rising Rate Cut Bets;; Jinan Shengquan Falls 10%

Chinese shares fell on Tuesday as investors turned cautious amid rising bets that the U.S. Federal Reserve will raise rates and concerns over subdued domestic consumption following a quiet "618" shopping festival.The Shanghai Composite Index, the main gauge of Chinese stocks, fell 1.4% to 4,106.25. The Shenzhen Component Index plunged 3.2% to 15,854.20.Rising bets on a Fed interest rate hike bore down on investor sentiment.Bank of America now expects rate increases of 75 basis points across September, October and December, marking a reversal from its recent forecast no change this year.Meanwhile, gross merchandise ​value, a measure of sales from e-commerce platforms, stood at 863.6 billion yuan during the mid-year 618 shopping festival that spanned from May 13 to June 18. The recent number was nearly flat compared with last year's ⁠855.6 billion yuan, Reuters reported.In company news, Jinan Shengquan (SHA:605589) will undertake a convertible bond offering of 2.5 billion yuan. Shares of the resin manufacturer slid 10% in recent trade.

Shanghai Composite^SZSESHA:605589
Asia

Jinan Shengquan Seeks to Raise 2.5 Billion Yuan via Convertible Bond Offering

Jinan Shengquan (SHA:605589) will undertake a convertible bond offering of 2.5 billion yuan.The offering will be issued June 25, with the lottery draw date to follow on June 26, according to a Tuesday filing with the Shanghai bourse.Sinolink Securities and CITIC Securities serve as joint lead underwriters.Shares of the resin manufacturer slid 10% in recent trade.

SHA:605589
Asia

Chinese Stocks Muted Amid Failed US-Iran Talks, Improved GDP Outlook

Chinese equities closed flat, mainly in positive territory, slightly rebounding from earlier losses due to threats of the U.S. blocking the Strait of Hormuz.The Shanghai Composite Index moderately rose to close Monday's trade at 3,988.56. The Shenzhen Component Index added 0.7%, or 98.39 points, to 14,407.86.Investors are still cautious as talks between the U.S. and Iran crumbled, prompting President Donald Trump to announce an immediate naval blockade of the strait, which is a critical global oil passageway.Despite the growing Middle East tensions, the Asian Development Bank, or ADB, lifted its economic forecast for China for the year, bringing its gross domestic product 4.6% from the previous forecast of 4.3%. The ADB attributed the improved outlook on the government's support for high-tech innovation and continued exports as China leans towards non-U.S. global trade partners.In corporate news, Haisco Pharmaceutical (SHE:002653) soared after granting AbbVies exclusive rights for Nav1.8 inhibitors.Jinan Shengquan (SHA:605589) rose 2.7% amid plans to issue convertible bonds worth 2.50 billion yuan.

Shanghai Composite^SZSESHA:605589SHE:002653
Asia

Shengquan to Issue 2.50 Billion Yuan in Convertible Bonds; Shares Up 3%

Jinan Shengquan (SHA:605589) plans to issue convertible bonds worth 2.50 billion yuan, according to a Shanghai bourse filing on Monday.The convertible bonds will have a term of six years.The majority of the proceeds from the issuance, amounting to 2 billion yuan, will be used for the construction of a green new energy battery materials plant, which will produce 10,000 tons of silicon-carbon anode materials and 15,000 tons of porous carbon every year.The rest, which is worth 500 million yuan, will be used to supplement working capital.The resin manufacturer's shares jumped less than 3% during the afternoon trade.

SHA:605589

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