Xingyun shares plans to raise 637 million yuan to build energy storage production lines

Xingyun shares announced that it has obtained the approval of the China Securities Regulatory Commission to conduct a private placement of shares to raise no more than 637 million yuan. These funds will be used to build new energy storage systems and battery key component manufacturing and testing center projects, as well as to supplement the company's working capital. The company plans to purchase new land in Jiaocheng District, Ningde City, to build a new production and testing laboratory base to increase the company's production capacity and expand its commercial and industrial energy storage PCS, grid-side energy storage PCS, DC fast charging piles and DC modules, high-voltage control boxes (S-BOX) and lithium battery testing services.