Shengquan Group (605589.SH) has officially declared its intention to issue convertible corporate bonds to unspecified investors. The total amount of funds to be raised through this issuance will not exceed 2.5 billion yuan. These funds are earmarked for three key purposes: firstly, to finance the annual production project of 100,000 tons of bio-based hard carbon negative electrode materials; secondly, to support the R&D center project; and thirdly, to bolster the company's working capital reserves.