Damon Technology (688360.SH) Plans Convertible Bond Issuance to Raise Up to RMB 702 Million

Stock News10-19

Damon Technology Group Co.,Ltd. (688360.SH) has released an announcement stating that the company plans to issue convertible corporate bonds to unspecified targets, with a total fundraising amount not exceeding RMB 702 million (inclusive).

After deducting issuance expenses, the net proceeds from the fundraising are intended to be invested in: the expansion project for the production and research and development of core components for intelligent logistics equipment, the construction project for the intelligent logistics equipment and embodied intelligence system research and development center, the construction project for industrial intelligent data collection terminals, the expansion project for energy-saving integrated permanent magnet motors (Phase I), and supplementary working capital.

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