Wenzhou Hongfeng cuts private placement cap to RMB270.8 million for copper foil expansion
2026-10-20 11:43:57 [Print]
Wenzhou Hongfeng announced on October 12 that it has adjusted its 2026 private placement plan for A-share issuance to specific targets, lowering the fundraising cap from no more than RMB450 million (USD67.37 million) to no more than RMB270.8 million (USD40.54 million). The adjustment mainly involves changes to the investment projects: the semiconductor etching lead frame project under the original plan will no longer be included in the private placement, and will instead be advanced entirely with the company's own funds and self-raised capital.
Under the revised plan, net proceeds from the private placement, after deducting issuance expenses, will be fully allocated to the lithium battery copper foil and electronic copper foil expansion project. The project involves a total investment of RMB280 million (USD41.92 million), with RMB270.8 million (USD40.54 million) to be funded by the private placement. It will be implemented by Zhejiang Hongfeng Copper Foil Co., Ltd. and will include six lithium battery copper foil production lines and two electronic copper foil production lines.
Under the revised plan, net proceeds from the private placement, after deducting issuance expenses, will be fully allocated to the lithium battery copper foil and electronic copper foil expansion project. The project involves a total investment of RMB280 million (USD41.92 million), with RMB270.8 million (USD40.54 million) to be funded by the private placement. It will be implemented by Zhejiang Hongfeng Copper Foil Co., Ltd. and will include six lithium battery copper foil production lines and two electronic copper foil production lines.
Copper Conc. 20%min Delivered China
Unit:RMB/mmt
China refined copper producers' output statistics by province by month
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