【Sinon-KY】Announcement regarding the Company's convertible bond due on February 23, 2026, remaining unpaid, and this month's cash budget statement and previous month's cash budget execution status
Sinon Energy Technology Group Co., Ltd. announced that it failed to repay approximately NTD 1.035 billion in unsecured convertible bonds that matured on February 23, 2026. The company also disclosed its cash budget execution for April 2026 and cash budget for May 2026, indicating its debt default status and future financial plans.
📋 Article Processing Timeline
- 📰 Published: February 23, 2026 at 09:00
- 🔍 Collected: May 9, 2026 at 08:00 (1799h 0m after Published)
- 🤖 AI Analyzed: May 9, 2026 at 09:03 (1h 3m after Collected)
1. Company Name (or Responsible Person's Name): Sinon Energy Technology Group Co., Ltd.
2. Relationship with the Company: The Company
3. Mutual Shareholding Ratio: Not applicable
4. Date of Credit Default: 2026/02/23
5. Amount of Credit Default: 1,035,605,020
6. Event Content of Credit Default:
The Company's fourth unsecured convertible bonds in the Republic of China (referred to as: Sinon IV KY, code: 15894) matured on February 20, 2026, three years after issuance. Due to bondholders exercising their put options, totaling NTD 1,035,605,020, the Company was unable to repay as scheduled.
7. Response and Safeguard Measures:
The Company will announce a repayment plan through the bond trustee bank and handle subsequent matters in accordance with relevant regulations.
8. Other Matters to be Specified (If the entity involved in the event or resolution is a public offering company or above, this material information also complies with Article 7, Paragraph 1 of the Enforcement Rules of the Securities and Exchange Act, which stipulates matters that have a significant impact on shareholders' equity or securities prices):
Cash Budget Execution for April 2026 (Unit: NTD Thousands)
Item April 2026 Cash Budget April 2026 Budget Execution May 2026 Cash Budget
----------------- --------------------- ------------------------ ------------------
Beginning Balance 1,303,297 1,303,297 1,201,388
Cash Inflow 674,985 723,746 604,708
Cash Outflow 967,386 825,655 869,113
Ending Cash 1,010,896 1,201,388 936,983
2. Relationship with the Company: The Company
3. Mutual Shareholding Ratio: Not applicable
4. Date of Credit Default: 2026/02/23
5. Amount of Credit Default: 1,035,605,020
6. Event Content of Credit Default:
The Company's fourth unsecured convertible bonds in the Republic of China (referred to as: Sinon IV KY, code: 15894) matured on February 20, 2026, three years after issuance. Due to bondholders exercising their put options, totaling NTD 1,035,605,020, the Company was unable to repay as scheduled.
7. Response and Safeguard Measures:
The Company will announce a repayment plan through the bond trustee bank and handle subsequent matters in accordance with relevant regulations.
8. Other Matters to be Specified (If the entity involved in the event or resolution is a public offering company or above, this material information also complies with Article 7, Paragraph 1 of the Enforcement Rules of the Securities and Exchange Act, which stipulates matters that have a significant impact on shareholders' equity or securities prices):
Cash Budget Execution for April 2026 (Unit: NTD Thousands)
Item April 2026 Cash Budget April 2026 Budget Execution May 2026 Cash Budget
----------------- --------------------- ------------------------ ------------------
Beginning Balance 1,303,297 1,303,297 1,201,388
Cash Inflow 674,985 723,746 604,708
Cash Outflow 967,386 825,655 869,113
Ending Cash 1,010,896 1,201,388 936,983