Desay SV secures nearly 4.4bn yuan for strategic automotive electronics projects

Huizhou Desay SV Automotive Co., Ltd. has announced the successful completion of a private placement, raising a net total of RMB4,393,133,743.62. The offering involved 41,893,333 A-shares at RMB105.00 per share, with funds earmarked for the Desay SV Automotive Electronics Central and Western Base Project (Phase I), the Intelligent Automotive Electronics System and Components Production Project, and the Intelligent Computing Center and Cabin-Driving Fusion Platform R&D Project. The company also confirmed the establishment of special accounts for these raised funds and the signing of three-party and four-party supervision agreements with various banks and China Securities Co., Ltd., ensuring stringent oversight of the capital.

The private placement received approval from the China Securities Regulatory Commission (CSRC) and the Shenzhen Stock Exchange, with the offering being finalized on September 10, 2025. This was followed by a shareholder meeting on September 23, 2025, to approve the extension of the resolutions related to the 2024 private placement, ensuring the continued validity of the board’s authorization for related matters.

The placement attracted 21 institutional and individual investors, with all shares subject to a six-month lock-up period, demonstrating investor confidence in the company's growth strategy. This capital injection is expected to significantly enhance Desay SV's asset and net asset base, optimize its capital structure, and bolster its financial strength to support future development without altering the company's control structure.