Longxing Chemical applied for convertible bonds of 754 million yuan at the meeting

Longxing Chemical Co., Ltd. will apply for convertible bonds soon, and the total amount of funds raised this time will not exceed RMB 754 million. The company plans to fully invest the funds raised in the Shanxi Longxing Carbon-Based New Materials Circular Economy Industry Project (Phase I).

The planning of Shanxi Longxing Carbon-based New Materials Circular Economy Industry Project (Phase I) includes a number of key construction projects, including a 200,000-ton/year carbon black production line, power generation equipment and auxiliary environmental protection facilities, as well as a series of public works and supporting facilities, such as office buildings, carbon-based new material research and development centers, warehouses, etc. The implementation of this project will provide important support for the company to expand its business in the field of circular economy.

The meeting stated that the company had submitted relevant documents to the China Securities Regulatory Commission and was about to start the review process to prepare for the issuance of convertible bonds. This measure will help Longxing Chemical promote circular economy industry projects, increase production capacity, and promote the sustainable development of the company's business.

It is understood that the funds raised from Longxing Chemical's convertible bond will be mainly used for the launch and promotion of the project to ensure the smooth implementation of the project. The company's investment in the field of new materials shows its optimism about the future carbon-based new material market and indicates more innovation and development in the field of circular economy.