Xinhongye (301310.SZ) has officially declared its intention to issue convertible bonds with a total value not exceeding 1.1 billion yuan. Following the deduction of issuance-related expenses, the proceeds from this bond issuance will be strategically allocated to several pivotal areas. These encompass the research and development (R&D) and subsequent industrialization of lightweight metal composite conductor cables, specialized cables, and electrical penetration assemblies tailored for nuclear power plants. Additionally, the funds will support the development of cables essential for next-generation information infrastructure, facilitate the capacity expansion of new energy storage cables, contribute to the construction of a production base in Morocco, and aid in the upgrading of the company's R&D center. A portion of the funds will also be utilized to bolster working capital, ensuring smooth operational flow.