On April 1, Wellhope received the notification issued by the China Securities Regulatory Commission. According to the results of the Issuance Examination Committee, Wellhope's application for public issuing convertible bonds has been approved by the CSRC. The total amount of issuing convertible bonds will not exceed RMB 1.5 billion, with a retention period of six years. The raised funds will be primarily used for the construction of eight projects, including feed processing, slaughtering and food further processing, as well as supplementing the working capital.
The application for issuing convertible bonds is in line with Wellhope's long-term strategic planning, which will improve the production capacity, promote rational allocation of internal resources and heighten Wellhope’s core competitiveness. At the same time, it will also enhance the long-term investment value of Wellhope's stock, and drive the long-term healthy development of the company.
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