On October 19, 2020, Duolun Technology (603528.SH) issued convertible bonds of RMB 640 million (“Duolun convertible bonds”, code: 113604.SH). This public issue of convertible bonds is the first time for Duolun Technology to refinance in the A-share market after landing on the main board in May 2016, with TF Securities acting as the sponsor and underwriter.

Centering on the three elements of traffic (people, vehicles and roads), Duolun Technology has formed its strategic layout and outstanding development in a “four vertical and one horizontal” system. Thanks to the excellent investment banking capacity of TF Securities and its deep understanding of Duolun Technology’s professional ability, the issue of convertible bonds by Duolun Technology was highly recognized by the capital market, with an effective subscription amount of RMB 8.51 trillion issued online to general public investors and an online winning rate of 0.00132120%.

Ranking of the Total Amount of Convertible Bonds Issued and Subscribed in China

According to the statistics of Wind (a market leader in China's financial information services industry), the total amount of online subscription funds for the convertible bonds of Duolun Technology ranked fourth in the total amount of subscription funds for the convertible bonds ever issued in China, and it ranked second this year.

Duolun Technology

Since 1995, Duolun Technology has had a long-standing commitment to promoting the innovation and industrial application of intelligent training and examination systems for Chinese motor vehicle drivers and it has been working for the technological innovation and industrial application of the construction of smart city in order to realize the deep and integrated development of “people, vehicles and roads”. After more than 20 years of technology accumulation and business expansion, the company has formed four product systems (intelligent vehicle management, intelligent driver training, intelligent transportation and intelligent vehicle inspection) around the six core technologies (big data, cloud computing, deep learning, 3D simulation, perception technology of IoT and Beidou satellite positioning), and its business covers many stages of traffic safety. It has developed into a high-tech enterprise in the field of transportation with the main services of intelligent driver training and examination system, driving simulation training system, intelligent traffic management/products and systems of Internet of Vehicles, intelligent car inspection overall solutions and investment and operation management, etc. It has promoted the industrial application of technological research and product innovation in the field of mass transportation in China.

        Duolun Technology leads the intelligent vehicle management, advocates the intelligent driver training, promotes the intelligent transportation and practices the intelligent vehicle inspection. Its market has covered more than 400 cities in 31 provinces (autonomous regions and municipalities directly under the Central Government). The raised money of the convertible bonds will be used for the “Construction of Brand Chain Motor Vehicle Inspection Station Project” and the “R&D and Upgrading Project of ‘Human, Vehicle, Road and Cloud Technology’ Collaborative Intelligent Transportation Integration Solutions”. The issue of the convertible bonds will help Duolun Technology expand and diversify its business in the field of “people, vehicles and roads” and accelerate the establishment of “Duolun Vehicle Inspection” as a new chain leader in the field of motor vehicle inspection.