The board of Zhejiang Headman has approved an adjustment to its 2026 plan to issue shares to specific investors, cutting the total amount to be raised from no more than 1.517 billion yuan to no more than 1.167 billion yuan, a reduction of 350 million yuan. The working capital replenishment item in the original plan has been cancelled, while two physical projects are retained: the high-end composite machine tool industrialization project and the high-end precision machine tool and robot hardware intelligent manufacturing research and development project. The amounts planned for these two projects remain unchanged at 917 million yuan and 250 million yuan respectively. The company said the adjustment is based on overall planning and coordinated arrangements and is being made within the scope authorized by the shareholders' meeting. Apart from the above changes, other contents of the original issuance plan remain unchanged. The issuance still needs to be reviewed and approved by the Shanghai Stock Exchange and registered with the China Securities Regulatory Commission before it can be implemented.
Zhe Jiang Headman Machinery Co LtdCompany reduces private placement fundraising cap and cancels working capital replenishment, but retains project funding; net impact unclear.
