Yiwu Huading Nylon (601113.SH) plans to raise up to 708 million yuan through a private placement to its controlling shareholders.

Yiwu Huading Nylon (601113.SH) disclosed its plan to issue A-shares to specific targets in 2024. The company's controlling shareholder, True Love Group Limited (abbreviated as "True Love Group"), will be the recipient of the stock issuance. True Love Group will subscribe to all the shares issued in cash. True Love Group has signed a conditional and effective share subscription agreement with the company, with an issue price of 2.83 yuan per share. The number of shares issued will not exceed 250 million (inclusive), and the amount of funds raised will not exceed 708 million yuan (including). After deducting issuance expenses, the funds will be used for the annual production of 65,000 tons of high-quality differentiated nylon PA6 filament projects.