CHOW TAI FOOK (01929.HK): Applies to Register and Proposes Issue of Panda Bonds of Up to RMB 10 Billion

NewTimeSpace News: On 11 September 2026, Chow Tai Fook Jewellery Group Limited (stock code: 01929.HK) announced that it has applied to the National Association of Financial Market Institutional Investors (NAFMII) of the People's Republic of China for the registration of debt financing instruments, or panda bonds, in an aggregate amount of not more than RMB 10 billion, to be issued in multiple tranches at an appropriate time within two years from receipt of NAFMII's notice of acceptance of registration. The Company said that the application is being processed and that it remains uncertain whether and when the application will be approved and whether and when the registration of the panda bonds will be completed.

If the proposed issue proceeds, the exact timing, tenor, size and terms of the panda bonds will depend on market conditions at the time of issue, and the coupon rate will be determined through centralised bookbuilding. The panda bonds will be traded on the China interbank bond market after issuance. The Company has applied to Lianhe Credit Rating Co., Ltd., a credit rating agency in China, for a credit rating in respect of the application and the proposed issue, and the relevant documents are expected to be disclosed on NAFMII's designated website during the application process.

The Company said the proposed issue is its first application to NAFMII for the issuance of panda bonds and is expected to diversify the Group's financing channels and strengthen the Group's balance sheet by optimising its debt maturity profile. If the panda bonds are issued, the proceeds are intended to be used for working capital to support the Group's strategic development and brand transformation, including but not limited to strengthening jewellery product development, store upgrades and strategic market expansion, and for repaying the Group's existing borrowings.

The Company reminded shareholders and potential investors to exercise caution when dealing in its securities.

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