Xin'ao Corporation: Plans to raise no more than 1.019 billion yuan through private placement.

The announcement of Xin'ao Stock Co., Ltd. stated that the company plans to issue A-shares to specific targets in 2026, raising a total amount of funds not exceeding RMB 1.019 billion. The net proceeds from the fundraising, after deducting relevant issuance costs, are intended to be used for the Xin'ao Vietnam high-end fine spinning ecological yarn spinning and dyeing project, the construction project of a smart workshop producing 2,000 tons of high-end combed cashmere and wool flower yarn, the construction project of a high-end woolen product and digital technology research and development center, and for supplementary working capital.