Shanxi Huaxiang Group (603112.SH) plans to issue convertible bonds to raise funds of no more than 1.308 billion yuan.

Shanxi Huaxiang Group (603112.SH) has announced a plan to issue convertible corporate bonds to unspecified investors. The total amount of funds to be raised through the issuance of convertible corporate bonds to unspecified investors will not exceed RMB 1.308 billion. After deducting issuance expenses, the net proceeds from the fundraising are intended to be used for the following projects: RMB 1.058 billion for the core components production capacity enhancement and industry chain extension project; RMB 0.25 billion for supplementing working capital and repaying debts.