Ningbo Cixing (300307.SZ) plans to raise funds of no more than 300 million yuan for multiple projects.

Ningbo Cixing (300307.SZ) disclosed a plan to issue shares to specific targets through a simple procedure in 2025. The company intends to issue shares to no more than 35 specific targets, with the issuance price not less than 80% of the average trading price of the company's stock in the 20 trading days prior to the pricing benchmark date, raising a total of no more than 300 million yuan. The net proceeds from the fundraising, after deducting issuance expenses, will be used entirely for the construction projects of producing 1,500 units of 3D integrated molding knitting machines, 50 units of medical specialty knitting machines, and 500,000 functional sports knitwear annually, as well as for the research and industrialization project of developing and producing 1,170 high-end multi-functional special computer knitting machines for industrial use and the research project of digital analysis and testing technology for knitting fabric structure and basic properties.