Songfa Corporation's 7 billion yuan private placement has been finalized, empowering Hengli Heavy Industries to become a world-class shipbuilding base.

On the evening of July 21, Songfa Group disclosed a report on the issuance of shares to specific objects, marking the successful completion of the company's 7 billion yuan targeted issuance project. The funds raised in this round will be fully invested in Hengli Heavy Industry's shipbuilding business, injecting strong development momentum into the company's deep cultivation of the high-end green ship field, and helping Hengli Heavy Industry move towards becoming a world-class green high-end ship production and construction base.