Lanfeng Biochemical terminates 2023 private placement, plans new share issue to raise up to 300 million yuan for debt repayment

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Lanfeng Biochemical announced that its board of directors has approved the termination of the 2023 private placement of A-shares to specific investors, and approved a 2026 private placement plan. The total proceeds will not exceed 300 million yuan, and after deducting issuance expenses, all funds will be used to repay loans from financial institutions.

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