Luoyang Xinqianglian Slewing Bearing (300850.SZ) plans to raise funds through a proposed increase of no more than 1.5 billion yuan.

Luoyang Xinqianglian Slewing Bearing (300850.SZ) has issued an announcement that the company plans to issue shares to specific targets, with a total fundraising amount not exceeding 1.5 billion yuan (including the principal). The net proceeds of the fundraising after deducting issuance expenses will be used for the construction of projects for 6MW and above high-power wind turbine main bearings, yawning and pitch bearing components, and for supplementary working capital.