Wanlang Magnetic Plastic (603150.SH) plans a private placement to raise no more than 564 million yuan.

Zhitong Finance APP news, Wanlang Magnetic Plastics (603150.SH) issued an announcement that the company plans to issue A-shares to specific targets, with total fundraising not exceeding 564 million yuan (inclusive). After deducting issuance expenses, all funds will be used for: smart home appliance component expansion construction project, smart home appliance product expansion construction project, polymer modified material production line construction project, high-performance magnetic material pilot platform construction project, acquisition of minority equity in controlled subsidiaries project, and supplementing working capital.