Ningbo Huaxiang plans targeted share issuance for business expansion

Ningbo Huaxiang Electronic aims to raise funds through a targeted share issuance, with the goal of fortifying its business and supporting several strategic initiatives. The company has affirmed that this share issuance will not involve any direct financial assistance or compensation to targeted investors, either directly or through affiliated entities. The raised capital, capped at CNY292,073,180, will fuel projects such as a new intelligent manufacturing facility in Wuhu (CNY115,076,860), expansion of its Chongqing production base (CNY40,032,900), and an R&D center project (CNY47,672,420) focused on innovation, smart chassis and robotics, plus digital transformation efforts (CNY38,291,000), and general working capital (CNY51,000,000). With these strategic moves, the company hopes to capitalize on growth opportunities, including local brand autonomy, and is moving toward digitalization to improve efficiencies and cost management.