Meili Technology (300611.SZ) plans to raise no more than 585 million yuan through a private placement.

According to the report from Zhichong Finance APP, Meili Technology (300611.SZ) announced that the company plans to issue stocks to specific targets, with a total fundraising amount not exceeding 585 million yuan (including the principal). The net amount of funds raised after deducting issuance costs will be wholly used for: the industrialization projects of producing 2 million intelligent suspension units and 10 million electric and hydraulic drive elastic components, as well as supplementing working capital.