Ningbo Xusheng Group was approved to issue 2.8 billion convertible bonds

The China Securities Regulatory Commission has approved Ningbo Xusheng Group to publicly issue convertible bonds of no more than 2.8 billion yuan. Of this amount, 1.26 billion yuan will be used for new energy vehicle powertrain projects, 640 million yuan for lightweight automotive key parts projects, 340 million yuan for automotive lightweight structural parts green manufacturing projects, and the remaining 560 million yuan will be used to supplement working capital.