Beijing, 18 March 2019 –Wuhu Token Sciences Co., Ltd. (Wuhu Token), rated by Dagong Global Credit Rating Co., Ltd. (Dagong), successfully issued 1.23 billion yuan convertible bonds. Dagong assigned the convertible bonds credit rating of Wuhu Token at AA, the bonds are referred to as “Wuhu Token Convertible Bond”(Stock Code: 123022). The issuance size is 1.23 billion yuan, with a maturity of 6 years. The coupon rate is 0.4% in the first year, 0.6%, 1.0%, 1.5%, 1.8% and 2.0% respectively in the following five years. The proceeds from the issuance of convertible bonds will be used for the Integrated Touch & Display Controller Products - smart wearable devices.
Wuhu Token (300088.SZ) was established in 2000 and listed on the Shenzhen Stock Exchange in 2010. It is a GEM listed company specializing in flat panel display materials. The company is principally engaged in the research, development, manufacture, distribution and services of vacuum thin film materials for panel displays. It belongs to the new display device manufacturing industry, which is a national strategic emerging industry and also a key industry during the “13th Five-Year Plan” period (2016-2020). The company’s products are applied in smartphones, tablets, notebook computers, touchscreen car monitor, wearable devices, industrial control instruments, medical instruments and other areas with great potential. Wuhu Token plays an important role in the integration of touch modules and touch display in China. It is an important production base for key display materials of flat panel displays in China. The successful issuance of convertible bonds will help the company to further optimize its product structure with smart wearable devices as a starting point, and improve its overall technical level and market competitiveness.
Dagong believes that Wuhu Token has strong market competitiveness and wealth creation ability, as Wuhu Token has become a leading enterprise in the field of Integrated Touch & Display Controller in China, which has great potential and high product differentiation. It has formed the entire business chain from conductive glass, touch sensor, Thin Film Transistor (TFT) thinning, to touch modules, display modules, and then to integrated touch & display full bonding, display modules & cover lens full bonding.
Edited by: Zhang Yue
Industry and Commerce Department
Dagong Global Credit Rating Co., Ltd