Mankun’s Convertible Bond Issuance Accepted by SZSE to Fund PCB Expansion & Digital Upgrades

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Mankun Technology announced that on December 30, 2025, it received formal notice from the Shenzhen Stock Exchange (SZSE) confirming acceptance of the company’s application to issue convertible corporate bonds to unspecified investors (SZSE Review [2025] No. 280). After reviewing the submitted materials and determining them to be complete, the SZSE approved the application for acceptance.

The total funds to be raised through the proposed convertible bond issuance will not exceed RMB 760 million. After deducting issuance-related expenses, the net proceeds will be allocated to two key initiatives: the construction of a high-end printed circuit board (PCB) production base in Thailand and an intelligent and digital upgrade project in China.

The high-end PCB production base project in Thailand is intended to optimize Mankun Technology’s global production footprint and address localized customer demand in sectors such as new energy vehicles, AI servers, robotics, and high-speed communications. The company plans to invest in a facility with an annual production capacity of approximately 1.1 million square meters, to be located in the 304 Industrial Park in Prachinburi Province. Closely aligned with Mankun’s core PCB business, the project is positioned as a strategic step to adapt to industry trends, enhance international competitiveness, mitigate international trade risks, and expand the company’s overseas market presence.

The intelligent and digital upgrade project will be implemented by Mankun Technology’s parent company in Ji’an City, Jiangxi Province, with a total planned investment of about RMB 305 million and a construction period of 36 months. The project will focus on deploying highly automated, high-precision intelligent manufacturing equipment and advanced digital management systems to improve production efficiency, operational control, and product precision. It also includes the establishment of a comprehensive digital information system to strengthen information security and support large-scale mass production of PCB products, reinforcing the company’s core competitiveness.

Since its establishment, Mankun Technology has concentrated on the research, development, production, and sales of printed circuit boards. Its product portfolio includes single-sided, double-sided, and multilayer high-precision PCBs - primarily rigid boards - covering high-frequency and high-speed boards, thick copper boards, metal-based boards, high-end HDI boards, and embedded component boards. These products are widely used across automotive electronics, consumer electronics, communications, industrial control, and intelligent security applications.

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