Xinxiang Chemical Fiber (000949.SZ) plans to raise up to 1.3 billion yuan for high-quality biomass cellulose filament and supporting projects.

The Zhitong Finance APP reported that Xinxiang Chemical Fiber (000949.SZ) disclosed its plan to issue A-shares to specific objects in 2026. The total amount of funds to be raised in this issuance will not exceed 1.3 billion yuan, and the net proceeds from the issuance, after deducting the issuance expenses, will be used entirely for projects such as high-quality biomass cellulose filament and supporting engineering, research and development center for the high value utilization of Agaricus bisporus materials, and supplementary working capital.