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Zongheng Co., Ltd. has unveiled its intention to issue shares to select investors, aiming to raise a maximum of RMB 548 million (inclusive). After deducting issuance expenses, the net proceeds will be channeled into several key initiatives, including the Unmanned and Large UAV System Industrialization Base Project, the UAV System Development and AI Technology Capability Enhancement Project, as well as initiatives to bolster working capital and settle outstanding loans. The company reserves the flexibility to tweak the investment sequence and allocation for each project in response to real-world conditions. Moreover, prior to the infusion of raised funds, Zongheng Co., Ltd. is authorized to utilize its internal resources or self-raised capital for preliminary investments, with subsequent replacements once the raised funds become accessible.
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