Xiangtan Electric updates share issuance plans after exchange review

Xiangtan Electric Manufacturing (SSE:600416) has released an updated announcement regarding its plans for a targeted share issuance, following a review by the Shanghai Stock Exchange (SSE). The company addressed concerns raised by the SSE, particularly relating to the intended use of proceeds for its "Aerospace Electrical System Serialization Development and Industrialization Project" and the "Magnetic Suspension Bearing High-Speed Motor System R&D and Industrialization Project".