Hangzhou Oxygen Plant Group (002430.SZ) plans to issue convertible bonds to raise funds not exceeding 1.63 billion yuan.

Hangzhou Oxygen Plant Group (002430.SZ) announced the proposal to issue convertible corporate bonds to unspecified investors. The total amount to be raised in this issuance is not more than 1.63 billion yuan (including the principal), which will be used for the following projects after deducting issuance expenses: 460 million yuan for the expansion project of a 105,000 Nm3/h air separation unit for the transformation of old and new energy; 280 million yuan for the relocation and transformation of the old factory area of Henan Jinkai Chemical Investment Holding Group Co., Ltd. for the upgrade of new materials projects (Phase One) and air separation unit projects; 450 million yuan for the construction project of an 80,000 Nm/h air separation unit for the capacity reduction, replacement, and upgrade of Shanxi Jingang Intelligent Manufacturing Technology Industrial Park, in conjunction with Zezhou Hangyang Gas Co., Ltd.; and 440 million yuan for supplementary working capital.