According to CoinMeta, Zhonglun New Materials announced that the company's issuance of convertible corporate bonds to unspecified parties has been approved by the Shenzhen Stock Exchange's Listing Review Committee and has received consent for registration from the China Securities Regulatory Commission (CSRC), with the approval valid for 12 months. The funds raised from this issuance are intended to be used for the industrialization project of high-performance film materials in Indonesia (phases one and two), as well as for repaying bank loans and replenishing working capital. The listing of these convertible bonds is still subject to the approval of the Shenzhen Stock Exchange.