Hi Sun Technology (China) Limited Announces Issuance of Asset-Backed Securities in China
Key Points of the Announcement
- Issuer: Hi Sun Technology (China) Limited (Stock Code: 818), via its 80.04% owned subsidiary, Ronghui Zhida Factoring.
- Scheme: Suixin Cloud Chain-Xingyao No.3 Phase 1-10 Micro, Small and Medium-sized Enterprises Financing Credit Supply Chain Financial Asset-backed Special Scheme (the “ABS Scheme”).
- Regulatory Approval: Received a no-objection letter from the Shanghai Stock Exchange, allowing for a maximum issuance size of RMB1,000,000,000 within 24 months, up to 13 May 2028.
- First Tranche: On 10 June 2026, the ABS Scheme – Phase 1 was established, with an issue size of RMB202,000,000.
- Tranche Breakdown:
- Priority Tranche: RMB151,000,000, rated AAAsf by an independent credit rating agency, coupon rate of 2.4%, maturity on 30 November 2027.
- Subordinated Tranche: RMB51,000,000, not rated, maturity on 30 November 2027, coupon not specified.
- Trading: The priority tranche will be traded on the Shanghai Stock Exchange and issued to qualified institutional investors in the PRC. The subordinated tranche is held by Ronghui Zhida Factoring or its designated affiliates.
- Use of Proceeds: The proceeds will be used as general working capital for the fintech services segment.
- Purpose and Strategic Benefits: The issuance is expected to diversify and widen the Group’s fund-raising channels, lower capital costs, improve the financing structure, and support operations and investment activities.
Important Information for Shareholders
- No Material Adverse Impact: The Board believes the ABS issuance will not cause any material adverse financial impact on the Group or the interests of shareholders.
- Not Price-Sensitive: The Board does not consider this transaction to be of a price-sensitive nature.
- Credit Ratings: The priority tranche’s AAAsf rating is for information only and is not a recommendation to buy, sell, or hold securities.
- Future Tranches: Additional tranches of ABS up to the RMB1 billion limit may be issued before May 2028, providing further flexibility for funding.
- Potential Share Price Impact: While the announcement itself is not considered price-sensitive, investors should note the company’s ongoing efforts to optimize capital structure and enhance liquidity, which could improve financial performance and potentially support the share price in the medium to long term.
Details of the ABS Scheme
- The ABS are backed by creditor’s rights and ancillary rights under a specific loan trust.
- The subordinate tranche holders (Ronghui Zhida Factoring or affiliates) will take on more risk, while the priority tranche holders have priority in coupon and principal repayment.
- Should any underlying assets become ineligible, Ronghui Zhida Factoring is required to redeem those assets from the scheme.
About Hi Sun Technology (China) Limited
- Hi Sun Technology (China) Limited is an investment holding company, listed in Hong Kong, mainly engaged in payment and digital services, fintech, platform operation solutions, and financial solutions.
Board and Governance
- The Board comprises five executive directors and three independent non-executive directors.
- The announcement was authorized by Hui Lok Yan, Executive Director and Company Secretary, on 10 June 2026.
Investor Guidance
- Shareholders and potential investors are strongly advised not to rely solely on this information and to exercise caution when dealing in the securities of the Company.
- Professional or financial advice is recommended if in doubt.
Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy, sell, or hold any securities. Investors should conduct their own due diligence or consult with professional advisers before making investment decisions. The company has stated that the announcement is not price-sensitive, but investors should monitor future developments and ABS issuances.
繁體廣東話版本
高陽科技（中國）有限公司宣佈於中國發行資產支持證券
重點摘要
- 發行人：高陽科技（中國）有限公司（股份代號：818），通過其80.04%持股子公司「融匯智達商業保理」。
- 計劃：隨信雲鏈-星耀三號1-10期中小微企業融資支持供應鏈金融資產支持專項計劃（「ABS計劃」）。
- 監管批准：已獲上海證券交易所「無異議函」，ABS計劃最高發行規模為人民幣10億元，可於2028年5月13日前分多期發行。
- 首期發行：2026年6月10日，ABS計劃第一期設立，發行規模為人民幣2.02億元。
- 分期詳情：
- 優先級：人民幣1.51億元，獨立評級機構評為AAAsf，票息2.4%，到期日為2027年11月30日。
- 次級：人民幣5100萬元，未評級，到期日同為2027年11月30日，票息未列明。
- 交易安排：優先級於上海交易所上市，僅供中國合資格機構投資者認購，次級則由融匯智達商業保理或其指定關聯方持有。
- 資金用途：主要用於集團金融科技服務業務的一般營運資金。
- 戰略效益：有助集團擴闊融資渠道、降低資本成本、優化資本結構及推動業務發展和投資。
股東需注意事項
- 無重大負面影響：董事會認為ABS發行不會對集團財務狀況或股東利益造成重大不利影響。
- 非敏感消息：董事會認為此次交易並非屬於股價敏感事項。
- 評級僅供參考：優先級評級僅作信息用途，並不構成任何投資建議。
- 未來靈活性：公司可於2028年前按需要再發行多期ABS，進一步加強資金彈性。
- 潛在股價影響：雖然公告本身屬非敏感消息，但集團持續優化資本結構及提升流動性，有望中長線支持業績及股價。
ABS計劃詳情
- ABS以特定貸款信託下的債權及附屬權益為支持資產。
- 次級持有人（融匯智達商業保理或關聯方）承擔較高風險，優先級則享有優先收取票息及本金的權利。
- 如有不符合要求資產，融匯智達需贖回該等資產。
公司簡介
- 高陽科技（中國）有限公司於香港上市，業務涵蓋支付及數碼服務、金融科技、平台運營方案及金融解決方案。
董事會及管治
- 董事會由五名執行董事及三名獨立非執行董事組成。
- 公告由執行董事兼公司秘書許樂恩於2026年6月10日授權發佈。
投資者提示
- 股東及潛在投資者請勿僅依賴以上信息，買賣公司股份時須審慎行事。
- 如有疑問，請諮詢專業或財務顧問。
免責聲明： 本文僅供參考，並不構成任何投資建議或邀請。投資者應自行做足功課或向專業人士查詢。公司已表明公告不屬於敏感信息，但建議密切留意日後ABS相關動態。
