Xinxiang Chemical Fiber plans to raise 1.3 billion yuan to expand its filament production capacity

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The 25th National \"Safety Production Month\" in 2026: Everyone should talk about safety and know how to handle emergencies; risks and hazards need to be identified and addressed. -------------------------------------------------- On June 23, Xinxiang Chemical Fiber Co., Ltd. (hereinafter referred to as Xinxiang Chemical Fiber) issued a statement announcing its intention to issue shares to specific investors. The total amount of funds to be raised is expected not to exceed 1.3 billion yuan. After deducting the issuance costs, the net amount raised will be used for projects related to high-quality biomass cellulose filaments and related infrastructure, a research and development center for the advanced utilization of mushroom grass materials, as well as to replenish working capital. 　　According to the announcement, Xinxiang Bailu Investment Group Co., Ltd., which is the direct controlling shareholder of Xinxiang Chemical Fibers, and Xinxiang State-owned Capital Operation Group Co., Ltd., which is the indirect controlling shareholder, intend to participate in this issuance of shares to specific investors in cash. They have committed to investing a total amount of no less than 100 million yuan, and after this issuance, their combined shareholding in the company will be no less than 25%. 　　Xinxiang Chemical Fiber stated that once the project is implemented, it will effectively increase the company’s filament production capacity, optimize its product portfolio by raising the proportion of differentiated products, further solidify its position as a leader in the industry, enhance its ability to set prices in the market, and provide a solid foundation for the sustainable and healthy development of the company, thereby boosting its overall competitiveness.