Ningbo Changhong Polymer Scientific and Technical Inc. (605008.SH) plans to raise funds through a private placement of no more than 300 million yuan.

Ningbo Changhong Polymer Scientific and Technical Inc. (605008.SH) announced that the company plans to issue shares to specific investors through a simple procedure to raise funds of up to 300 million yuan (including the original amount). The net proceeds after deducting the issuance expenses will be invested in: 50,000 tons/year TPE black masterbatch technology renovation project, waste heat recovery technology renovation project, construction project for office buildings and supporting facilities, and supplementary working capital.