Wuxi Paike New Materials Technology (605123.SH) plans to issue convertible bonds to raise funds of no more than 1.58 billion yuan.

Parker New Material (stock code: 605123.SH) announced that the company plans to issue convertible bonds to unspecified investors, with a total fundraising amount not exceeding 1.58 billion yuan (including the principal amount). After deducting the issuance expenses, the funds will be fully invested in the following projects: high-end energy equipment key component integrated intelligent manufacturing project, technology research institute project, and supplemental working capital.