Ningbo Huaxiang to issue shares for strategic growth and project funding
Ningbo Huaxiang Electronic Co., Ltd. announced the Shenzhen Stock Exchange has accepted its application for a private placement of A-shares to specific targets. The company plans to issue shares to no more than 35 specific investors, representing up to 30% of its total share capital before the issuance. The issuance has received approval from the company's board of directors on June 13, 2025, and shareholders on July 7, 2025.
The offering seeks to raise up to 2,920.7318 million yuan for key projects including the Wuhu Intelligent Manufacturing Project (1,150.7686 million yuan), Chongqing Interior Parts Production Base (400.3290 million yuan), an R&D Center (476.7242 million yuan), and Digital Transformation (382.9100 million yuan), along with supplemental working capital (510.0000 million yuan). These investments align with national industrial policies, supporting the automotive components sector's growth and enhancing the company's competitiveness in intelligent and new energy vehicle parts.
The private placement will not alter the company's controlling shareholder, Zhou Xiaofeng, whose combined stake, along with his concerted parties, will remain above 35.32% post-issuance. The transaction requires further review by the Shenzhen Stock Exchange and registration approval from the China Securities Regulatory Commission.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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