On July 23, Horizon recently signed a revised agreement with CARIAD, a subsidiary of Volkswagen Group, on its convertible bonds. Horizon plans to redeem CARIAD's excess share transfer rights. CARIAD plans to transfer shares early, become an important shareholder with a total shareholding ratio of 9.9% of Horizon, and voluntarily lock in for 12 months. To complete the relevant cash repurchases, Horizon also proposed issuing US$450 million zero-interest convertible bonds. The maturity date is expected to be around July 27, 2027, and the conversion price is HK$5.55, which is a 16.8% premium over the closing price on the 22nd. Of this amount, approximately US$398.9 million is intended to be used to pay principal and interest payments and share redemption rights under the revised agreement, and the balance will be used to supplement working capital and other corporate purposes.

On July 23, Horizon recently signed a revised agreement with CARIAD, a subsidiary of Volkswagen Group, on its convertible bonds. Horizon plans to redeem CARIAD's excess share transfer rights. CARIAD plans to transfer shares early, become an important shareholder with a total shareholding ratio of 9.9% of Horizon, and voluntarily lock in for 12 months. To complete the relevant cash repurchases, Horizon also proposed issuing US$450 million zero-interest convertible bonds. The maturity date is expected to be around July 27, 2027, and the conversion price is HK$5.55, which is a 16.8% premium over the closing price on the 22nd. Of this amount, approximately US$398.9 million is intended to be used to pay principal and interest payments and share redemption rights under the revised agreement, and the balance will be used to supplement working capital and other corporate purposes.