Ningbo Xusheng Group announces convertible bond issuance plan

Ningbo Xusheng Group (603305) announced on June 12 that it will issue convertible bonds to unspecified parties, raising a total of 2.8 billion yuan. Among them, 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 for replenishing working capital. This move aims to expand the company's production capacity of precision aluminum alloy parts in the new energy vehicle field, optimize the capital structure, and improve risk resistance.