Zhejiang Bofay Electric (001255.SZ) intends to raise no more than 146 million yuan through a simple program of additional share issuance.

Zhejiang Bofay Electric (001255.SZ) announced a plan to issue shares to specific investors through a simplified process in 2025. The company will issue shares to a maximum of 35 specific investors, with a total fundraising amount not exceeding 146 million yuan. After deducting relevant issuance costs, the net proceeds of the fundraising will be entirely invested in the annual production of 70,000 tons of motor insulation materials project.