Xinje Electric greenlit for targeted share issuance by SSE

Wuxi Xinje Electric (SSE:603416) announced that it has received approval from the Shanghai Stock Exchange (SSE) regarding its application for issuing shares to specific investors. The SSE's review concluded that the application meets the requirements for issuance, listing, and information disclosure. The exchange will submit the application to the China Securities Regulatory Commission (CSRC) for registration. The company emphasized that the share issuance remains subject to CSRC approval, and the ultimate decision and timeline are uncertain. Investors are advised to be aware of potential investment risks. The announcement was made by Xinje Electric's board of directors on February 12, 2025.