Xingfu Electronics announced that the company plans to issue A-shares to specific targets through a simple procedure. The total amount of capital raised will not exceed RMB 260 million, and the issuance target will not exceed 35 people. The funds raised will be used for the 40,000 tons/year electronic grade phosphoric acid project after deducting the issuance fee. Matters related to this offering have been authorized by the company's 2025 annual shareholders' meeting and reviewed and approved by the board of directors. They still need to be reviewed and approved by the Shanghai Stock Exchange and registered with the approval of the China Securities Regulatory Commission.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.