Damon Technology Group (688360.SH) plans to issue convertible bonds to raise no more than 702 million yuan.

Damon Technology Group (688360.SH) announced that the company plans to issue convertible corporate bonds to unspecified targets, with total fundraising not exceeding 702 million yuan (inclusive). After deducting issuance expenses, the net proceeds are intended to be invested in: the expansion project for the production and R&D of core components for intelligent logistics equipment, the construction project of the R&D center for intelligent logistics equipment and embodied intelligence systems, the construction project for the production of industrial intelligent data acquisition terminals, the expansion project of energy-saving integrated permanent magnet motors (Phase I), and supplementing working capital.