Tianneng Power International Limited (Tianneng Power) reported that its 86.53%-owned subsidiary, Tianneng Battery Group Co., Ltd. (Tianneng Share), completed the second tranche of its 2026 publicly offered technology-innovation corporate bonds to professional investors on 25 June 2026.

The tranche raised RMB340 million, was 1.23 times subscribed, and carries a fixed annual coupon of 1.60% with a three-year maturity ending 25 June 2029. The issue was priced at par (RMB100 per bond). Investors will receive simple interest annually, and principal will be repaid in a lump sum at maturity.

The bond includes an issuer coupon-adjustment option, an issuer call option, and an investor put option exercisable at the end of year two. No credit enhancement was provided. Golden Credit Rating International assigns Tianneng Share an AAA entity rating with a stable outlook; the bonds themselves are unrated.

CITIC Securities acted as lead underwriter, subscribing RMB30 million of the issue together with related parties. No directors, senior management, 5%+ shareholders, or other related parties of Tianneng Share participated in the subscription.

Proceeds, net of issuance expenses, will be used to repay notes payable, in line with disclosures in earlier announcements.

This tranche follows the RMB1.00 billion first tranche completed on 6 May 2026. Under the China Securities Regulatory Commission’s approval for up to RMB2.00 billion, Tianneng Share has now issued a cumulative RMB1.34 billion.

Management states that the bond issuance broadens financing channels and optimises the group’s capital structure. Shareholders and prospective investors are advised to exercise caution when dealing in Tianneng Power securities.