Anhui Wanwei Updated High-Tech Material Industry (600063.SH) plans to raise funds of up to 300 million yuan through a private placement to its controlling shareholder.

Anhui Wanwei Updated High-Tech Material Industry (600063.SH) disclosed a plan to issue A-shares to specific targets, with the issuing target being the company's controlling shareholder Anhui Wanwei Group Co., Ltd., who will subscribe to the company's shares being issued in cash. The total amount of funds raised from this issuance of shares will not exceed 300 million yuan (including this amount), and after deducting issuance expenses, it is proposed to use the funds to repay special payable funds from the state allocation and to supplement working capital.