ZCZL Industrial Technology (SHA:601717, HKG:0564) is looking to raise up to 4.35 billion yuan from the issuance of 43.5 million convertible bonds, according to a Monday filing with the Shanghai bourse.
The bonds have a term of six years.
Proceeds will be used for its new energy vehicle high-end parts industrial base project, the high-end hydraulic components production system intelligent upgrade, intelligent mobile robot manufacturing base, manufacturing full-scenario R&D center project, and working capital.
Shares fell 2% during morning trading in Shanghai and Hong Kong.
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