Press Release

FCIB Acted as the Sole Sponsor and Sole Underwriter for Public Offering of Convertible Bonds of Mingxin Xuteng New Material Co., Ltd.

First Capital Investment Banking Co., Ltd (“FCIB”) acts as the sponsor and lead underwriter for Mingxin Xuteng New Material Co., Ltd.. (“MXXT”)’s public offering of Convertible Bonds (the “Bonds”) and successfully finished the offering on April 7, 2022. The total consideration is RMB 673 million, which will be used for the 8 million square meters all water-borne island microfiber new material intelligent manufacturing project and supplementary flow funds, which will provide sufficient guarantee for the company's next stage of strategic layout.

MXXT is a high-tech company focused on the research and development, clean production and sales of automotive interior materials. It adopts green technology to produce a series of natural leather which is comfortable and beautiful for automobile interior decoration that meet the requirements of safety and environmental protection. The company forms an integrated business system of automobile leather from material research, process development, clean production, sales promotion and terminal application. 

FCIB’s management and the deal team continued to closely follow the policy and market changes and successfully completed the application process with high quality. Our efficient and effective project execution capability ensured the successful completion of regulatory approval process, and helped us to gain full recognition from the client and other related parties for our strong execution and communication skills. The success of this deal earned a favorable reputation for FCIB in the capital markets.