Zhejiang Yingfeng Technology (605055.SH) plans to raise funds through a private placement of no more than 522 million yuan.

Zhejiang Yingfeng Technology (605055.SH) announced that the company plans to issue shares to specific objects and raise funds totaling not more than 522 million yuan (including the face value). After deducting issuance expenses, the net amount is intended to be invested in the following projects: upgrading and renovating old production lines and sewage treatment systems, acquiring and merging Shaoxing Butai Textile Printing and Dyeing Co., Ltd., with an annual production of 129 million meters of high-end printed and dyed fabrics, the construction of a new site project (phase two), the construction of a large research and development center, and the intelligent recognition and analysis system for dyeing and finishing project.