The company recently received approval from the China Securities Regulatory Commission to apply for registration to issue convertible corporate bonds to unspecified parties.

The company plans to issue convertible bonds to raise no more than 529 million RMB, which will be fully used for the NBKBE Hubei Production Base Project, New Energy Vehicle Cable Expansion Project, and New Energy Vehicle Cable Insulation Material Renovation and Expansion Project after deducting issuance expenses.