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On October 7, 2026, Western Materials (002149.SZ) made an official announcement stating its intention to issue shares to a select group of no more than 35 targeted investors, with the aim of raising a maximum of 1.19 billion yuan. Following the deduction of issuance-related expenses, the net proceeds will be earmarked for several key initiatives. These include the technical upgrade project for high-performance rare and precious metal material production lines, the industrialization endeavor for tungsten and molybdenum materials tailored for high-end equipment, the construction of high-performance titanium and titanium alloy precision casting production lines, the establishment of cold-rolled precision foil and strip production lines, as well as bolstering the company's working capital reserves.
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