Suzhou Victory Precision Manufacture (002426.SZ) plans to raise funds of no more than RMB 1.95 billion in a private placement, with the controlling shareholder participating in the subscription.

Suzhou Victory Precision Manufacture (002426.SZ) announced the preliminary plan to issue A shares to specific targets in 2024. The issuance targets include up to 35 individuals, including the company's controlling shareholder Gao Yugen, who comply with legal regulations. Gao Yugen intends to subscribe for the shares with cash, with a minimum subscription of 8.26% of the total issuance. The total amount of funds raised in this issuance will not exceed 1.95 billion yuan (including this amount). After deducting issuance expenses, the funds will be invested in the following projects: Anhui car magnesium alloy product capacity expansion project, Suzhou car display glass product capacity expansion project, research and development center construction project, and supplementary working capital.