On December 28, 2022, as the joint Bookrunner, ABC International assisted Jiangsu Dongfang Shenghong Co., Ltd. (000301.SZ, DFSH. SW) to successfully issue Global depository receipt on the SIX Swiss Exchange. This time, a total of approximately 39.79 million GDRs were issued at a price of $18.05 per share, with a total fundraising of approximately $718 million.

This project is the largest GDR issuance with the largest financing scale since the beginning of this year, and Agricultural Bank of China International once again participated in this issuance as the only Chinese bank background investment bank in the underwriting group. Since the China Securities Regulatory Commission released the "Regulations on the Supervision of Interoperability of Depositary Receipts in Domestic and Foreign Securities Markets" in February, Agricultural Bank of China International has participated in three GDR projects with an issuance amount exceeding 1.8 billion US dollars, accumulating rich experience in underwriting GDR projects. This assistance to Dongfang Shenghong in successfully issuing GDR is also another achievement of Agricultural Bank of China International in implementing the group's green finance development strategy, assisting in green and low-carbon economic development, and serving overseas financing of the real economy.

Dongfang Shenghong is a leading global supplier of new energy and materials, and a core listed subsidiary of Shenghong Holdings Group Co., Ltd., ranked 241 on the Fortune 500. Shenghong Group was founded in Shengze, Suzhou City, Jiangsu Province in 1992. For 30 years, it has always focused on the development of the real economy and has developed into a new energy, new material and high-tech industry group. The company's main product photovoltaic grade EVA equity production capacity ranks first globally, acrylonitrile production capacity ranks first in China, and MMA production capacity ranks third in China; Among polyester fiber products, the company's main products, high-end differentiated fiber DTY, and recycled fiber production capacity all rank first in China.

The company plans to use approximately 35% of the proceeds from this fundraising to expand the production capacity of downstream materials and other new materials for renewable energy applications, approximately 25% to develop the company's comprehensive refining capacity, and the remaining 40% to fund potential investment and acquisition projects, develop management marketing networks, and improve product research and operation capabilities.