Shangwei Corporation (603333.SH) plans to raise no more than 1.144 billion yuan through a private placement to its controlling shareholder.

Intelligent Financial News APP: Shangwei shares (603333.SH) disclosed the pre-proposal for issuing shares to specific objects. The issuance object is the controlling shareholder, Fuhua Chemical, who intends to subscribe to the shares issued to specific objects in cash. The total amount of funds to be raised in this issuance is not more than 1.144 billion yuan, which will be used for projects such as digitalization upgrade and comprehensive capacity enhancement, marketing center and brand promotion construction projects, and for supplemental working capital after deducting issuance expenses.