2026.06.30
On June 30, 2026, CATARC Automotive Proving Ground Co., Ltd. (CATARC, stock code 301215) issued convertible corporate bonds to non-specific investors and listed them on the Shenzhen Stock Exchange. The funds raised from this issuance were RMB 1,039.04 million and are primarily allocated for the construction of the world's first all-season ice and snow testing base for intelligent connected new energy vehicles, featuring indoor snow and an ice and snow testing ground.
CATARC is one of China's leading companies in the investment, operation and management of automotive testing grounds. It creates automotive testing environments and scenarios to provide technical services for field testing to clients such as vehicle manufacturers, automotive testing agencies, automotive chassis component system companies and tire companies. CATARC's market share in field testing technical services remains at the forefront of the industry. This project is located in Yakeshi City, Inner Mongolia, has an investment of RMB 1.2 billion and a planned construction area of approximately 1,000 mu. It focuses on five core functional areas: calibration of the three electric systems of new energy vehicles, low adhesion calibration of chassis systems, snow scene simulation testing for intelligent connected vehicles, flying car testing and the high adhesion calibration of chassis systems. It covers the extreme environment testing needs of intelligent connected new energy vehicles. Upon completion in 2028, it will be a large-scale indoor ice and snow testing ground with comprehensive scenario coverage, advanced technical indicators and dual testing capabilities for both outdoor extreme cold and indoor all-season conditions.
JunHe served as the legal advisor for the issuer in this issuance and listing and has provided continuous legal services to CATARC since August 2019. As the issuer's lawyer for CATARC, the first listed company in China's capital market in the automotive testing ground sector, JunHe also provided comprehensive legal services throughout this project. We maintained efficient communication and close cooperation with the company and the various intermediaries, effectively promoted the smooth progress of the project and earned high praise from the company and all the participating parties.
The leading partners for this project were ZHANG, Jianwei, WEI, Wei and CHEN, Shanshan. LIU, Xin was the internal review partner.
