YAWEI: Plans to issue stocks to raise 719 million yuan for Yangzhou Industrial Development Group

YAWEI announced that the company plans to issue shares to Yangzhou Industrial Investment Development Group Co., Ltd. to raise a total of 719 million yuan, with the number of shares issued being 99.7269 million. Yangzhou Industrial Investment Group will become the controlling shareholder of the company, and this transaction constitutes a related party transaction. The raised funds will be used to supplement working capital, repay bank loans, optimize the capital structure, reduce the asset-liability level, and enhance risk resistance capability. This issuance is subject to approval by the Shenzhen Stock Exchange and registration approval by the China Securities Regulatory Commission before it can be implemented