Sinomag Technology Plans Share Private Placement

About this update from Sinomag Technology Co., Ltd. Class A

Sinomag Technology Co Ltd SZSE:300835:SAYS CO PLANS TO RAISE UP TO 760 MILLION YUAN ($109.99 million) VIA SHARE PRIVATE PLACEMENT TO FUND PROJECTS, REPLENISH CAPITAL AND REPAY BANK LOANS($1 = 6.9096 Chinese yuan renminbi)

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