Xihua Technology announced that the company plans to use the initial public offering to raise capital to provide an interest-free loan of no more than 25 million yuan to Jiangsu Xihua Foundry Co., Ltd., a wholly-owned subsidiary, for “R&D projects for key core components of wind turbine main gearboxes.” The loan period is from the actual loan date to project completion, and can be repaid in installments, early repaid, or renewed. The company previously raised 1,010 billion yuan in its initial public offering of shares, a net amount of 926 million yuan. Since the amount raised was lower than planned, the company adjusted the investment amount for the fund-raising project. The matter has been approved by the Board of Directors and Audit Committee, and the sponsor has no objection.

Xihua Technology announced that the company plans to use the initial public offering to raise capital to provide an interest-free loan of no more than 25 million yuan to Jiangsu Xihua Foundry Co., Ltd., a wholly-owned subsidiary, for “R&D projects for key core components of wind turbine main gearboxes.” The loan period is from the actual loan date to project completion, and can be repaid in installments, early repaid, or renewed. The company previously raised 1,010 billion yuan in its initial public offering of shares, a net amount of 926 million yuan. Since the amount raised was lower than planned, the company adjusted the investment amount for the fund-raising project. The matter has been approved by the Board of Directors and Audit Committee, and the sponsor has no objection.