Yimikang Tech eyes growth with targeted A-share issuance

Yimikang Tech. Group (SZSE:300249) is seeking shareholder approval for a targeted A-share issuance aimed at raising up to CNY31,121.92 million. The plan, approved by the board, will see the company issue no more than 132,146,398 shares to specific investors at a price no lower than 80% of the average share price in the 20 trading days before the issuance. Proceeds will be channeled towards a new facility for thermal control product manufacturing, a research and development platform, and to supplement working capital. Yimikang aims to strengthen its market position and capitalize on growing demand for thermal management solutions in data centers. This strategic move is in line with supportive national policies promoting the digital economy and green infrastructure. The firm expects the share issuance to bolster its financials. The measure has been discussed at previous meetings by a combination of both shareholders and board members, and approved by a 3/2 majority.