Xingfa Group announced that the company plans to issue A-shares to no more than 35 specific targets, including the controlling shareholder Yichang Xingfa, with a total capital of no more than 3 billion yuan. After deducting issuance fees, it will be used for the Qiaogou phosphate ore mining project, the Qiaogou phosphate ore 5 million tons/year beneficiation project, and bank loan repayment. Yichang Xingfa plans to subscribe in cash for no less than 100 million yuan and no more than 200 million yuan. The offering is subject to review and approval by the shareholders' meeting, approval by the Shanghai Stock Exchange, and approval of the China Securities Regulatory Commission for registration.

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