On March 24, 2026, Suzhou Sonavox Electronics Co., Ltd. (hereinafter referred to as " Sonavox Electronics " or the "Company") successfully completed the public issuance of convertible corporate bonds to unspecified investors. Llinks, acting as the issuer's counsel, provided comprehensive legal services throughout the entire process of this issuance.
Sonavox Electronics is committed to using acoustic technology to enhance the driving experience. As a leading domestic provider of automotive acoustic solutions, the Company has been integrated into the synchronous development systems of many well-known domestic and international automakers. The Company possesses R&D and design capabilities for acoustic products, system solutions, and related algorithms. Its product range primarily covers automotive speaker systems, automotive amplifiers, and Acoustic Vehicle Alerting Systems (AVAS), providing customers with comprehensive product solutions. Based on 2024 OICA data, the Company's automotive speakers hold a 15.24% share of the global passenger and light commercial vehicle market. Leveraging its continuously strengthening R&D and innovation capabilities, outstanding synchronous development expertise, and increasingly sophisticated global delivery network, the Company has established stable partnerships with numerous renowned domestic and international automakers and electro-acoustic brands. These include Volkswagen Group (including its subsidiaries Audi, Bentley, etc.), Ford Group, General Motors, Bose, BYD, Leapmotor, Stellantis (PSA), SAIC Motor, SAIC-VW, SAIC-GM, Dongfeng Motor, Chery, Geely Holding, and NIO.
The total proceeds from this convertible bond issuance amount to RMB 325 million, which will primarily be used for the "Intelligent Speaker Manufacturing Technology Upgrade Project" and the "Industrialization of Automotive Digital Audio-Visual Technology Project." The speaker manufacturing upgrade project involves the intelligent transformation of certain legacy production lines to enhance product consistency while improving production efficiency and reducing costs. The audio-visual technology project focuses on introducing advanced R&D equipment and software to develop products such as new liquid crystal display materials for streaming media rearview mirrors, AI amplifier systems, and digital speaker ASIC chips, better aligning with the trends of automotive intelligence and meet the diverse and integrated needs of downstream customers.
As a long-term partner of Sonavox Electronics, Llinks previously advised the Company on its IPO in 2021 and its "Sonavox Electronics Convertible Bond" issuance in 2023. Llinks has once again provided professional legal services for the Company's current issuance of convertible bonds.
