On 1 November 2019, the application for issue of corporate convertible bonds filed by Zhejiang Xcc Group Co., Ltd. (603667.SH, “Xcc Group”) has been passed and approved by China Securities Regulatory Commission.  Xcc Group intended to raise funds up to RMB 330,000,000 by issue of corporate convertible bonds. 

XCC Group mainly engages in the development, research, manufacture and sale of high-precision, low-noise deep groove ball bearing, auto hub bearing, precision bearing of numerical control machine, high-speed & precision bearing of thread spinner, shaft bearing and motor bearing etc.  The products are mainly sold to SKF, Schaeffler, NSK, NTN, JTEKT and other famous clients.

Grandall Shanghai Office has been retained as the issuer's counsel with Mr. QIN Guisen, Ms. LUO Duan, and Ms. SHEN Yiyin as key lawyers providing professional legal service for the case.