Beite technology to boost production with share offering

Shanghai Beite Technology Group Co., Ltd. has received approval from the Shanghai Stock Exchange for its simplified A-share offering. The offering, not exceeding 30% of the total share capital prior to the issuance, aims to raise up to RMB 30,000.00万元, which will be allocated to the "Shanghai Beite Technology Group Co., Ltd. Thailand Ball Screw Production Base Project (Phase I)". This project is expected to generate an annual production capacity of 80万套 planetary roller screws. The pricing for the offering has been set at RMB 37.59/share.

The company, with a registered capital of RMB 338,526,168 and primarily engaged in manufacturing automotive parts, aims to leverage this capital to expand its product lines and enhance its core competitiveness in the high-end equipment manufacturing and humanoid robot sectors. This move aligns with the company's "dual-engine" development strategy, focusing on both traditional automotive components and emerging new products like planetary roller screws. The funds are earmarked for capital expenditures, including construction engineering and equipment procurement, to strengthen its advanced manufacturing capabilities and foster sustainable growth.

The board of directors, audit committee members, and senior management have affirmed that the offering complies with listing conditions and disclosure requirements. The offering is currently awaiting registration approval from the China Securities Regulatory Commission.