Longhorn Auto's 1.045 billion private placement has been completed, with subscriptions from public offerings, foreign capital, and industrial capital

On May 26th, Longhorn Auto (301488.SZ) released a report on the issuance of stocks to specific targets after the market closed. The announcement indicated that the issuance price was 111.12 yuan per share, with a total of 9,412,698 shares issued, raising a total of 1,045,939,001.76 yuan.

It is noteworthy that the final list of issuance targets includes 13 entities, among which are public fund giants such as Caitong Fund, Nord Fund, and Huian Fund, as well as the listed company Zhongke Lanyun and the well-known foreign institution UBS AG. In addition, the participation of numerous high-net-worth investors reflects the market's comprehensive recognition of Longhorn Auto's corporate value.

According to the fundraising prospectus, the net amount of funds raised after deducting issuance costs will be used for Longhorn Auto's Shenzhen production line expansion project, Huizhou Longhorn Auto production line construction project, and Longhorn Auto R&D center upgrade project.

On the business front, Longhorn Auto focuses on the core perception and decision-making technology research and product supply in the fields of intelligent driving, robotics, and low-altitude economy. The company has been deeply engaged in automotive intelligent driving perception systems for many years, with its main products covering the perception needs from L2 level combined driving assistance to L3 level conditional autonomous driving. In the robotics field, the company has successfully launched robotic perception products and achieved mass production delivery, while robotic decision-making products are currently in the development stage. In the low-altitude economy sector, the company has secured project points from leading domestic low-altitude aircraft enterprises and is actively expanding cooperation with mainstream aircraft manufacturers.

Longhorn Auto stated that the implementation of the fundraising investment projects through the issuance to specific targets is beneficial for optimizing the company's global supply network, establishing global delivery capabilities, and aligning with the company's strategic development direction. The construction of the fundraising projects will further enhance the proportion of the company's high-end products, significantly promoting the company's core competitiveness and industry position. Furthermore, this issuance has improved the company's overall financial strength and debt repayment ability, optimized its capital structure, and provided effective support for the company's future development