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Grandway Advised Ningbo Fangzheng on Its Non-public Offering

Pubdate:2023.05.30 Source: Hit:701

In April 2022, Ningbo Fangzheng Automobile Mould Co., Ltd. (stock abbreviation: Ningbo Fangzheng, stock code: 300998) was approved for the issuance of shares to specific investors (“Issuance”) and the total amount of funds raised from this issuance is RMB 800 million.

 

Ningbo Fangzheng is deeply engaged in the automotive mold industry, which is the “mother of automotive industry + benefit amplifier”, with the design and production of automotive plastic molds, components, intelligent equipment, lithium battery precision structural parts as its core business, focusing on the field of automotive intelligent manufacturing equipment and technology, adhering to the strategy of branding and internationalization. Ningbo Fangzheng have competitive advantages in the market in terms of core technology, quality service, brand reputation and so on. At the same time, Ningbo Fangzheng follows the development trend of new energy vehicle market as well as the development of lightweight and decarbonization, and makes full use of its advantages in mold R&D and production capacity to actively explore the new energy market. With the advanced technology development level, excellent manufacturing process and service quality as well as the scale advantage of large-scale supply, Ningbo Fangzheng has formed long-term and stable cooperation relationship with major clients.

 

The funding from this issuance will be used for lithium battery precision structural parts production base construction project and supplementary working capital. In the context of explosive growth of new energy vehicle market demand, globalization of procurement and upgrading of automobile intelligent manufacturing, this issue is a significant milestone in the development history of Ningbo Fangzheng, marking a new stage of capital operation of Ningbo Fangzheng. It will help Ningbo Fangzheng to complete its layout in the lithium battery precision structural parts industry, grasp the development opportunity of lithium battery market, and further improve its profitability and competitiveness.


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