Xiechuang Data has officially declared in an Announcement (Note: The term "Announcement" is retained in its original form within the HTML-like structure for the sake of preserving formatting consistency, though it translates to "announcement" in standard English) its intention to issue A-shares to a select group of no more than 35 qualified investors. The quantity of shares earmarked for issuance shall not surpass 30% of the company's total share capital prior to the issuance. The company aims to raise a total sum not exceeding 8 billion yuan through this private placement. Following the deduction of issuance-related expenses, the proceeds will be strategically allocated to the "Xiechuang Data Intelligent Computing Center Construction Project," the "Data Storage Expansion, Upgrade, and Production Scaling Project," as well as to bolster working capital and settle outstanding bank loans.