Jiangsu Lopal Tech (SHA:603906) adjusted the proposed investment of raised funds for its cathode material projects, following lower-than-expected net proceeds from its A-share issue, according to a filing with the Shanghai bourse.
The company raised 1.86 billion yuan in net proceeds, slightly below the planned 1.88 billion yuan. It will now allocate 457.9 million yuan to working capital versus the previous 480.0 million yuan..
The shortfall will be covered by internal funds.
Shunfa Hengneng (SHE:000631) appointed Sheng Shuhao chairman, according to a Friday disclosure on the Shenzhen bourse.The clean energy power generation provider's board of directors elected Sheng to the position on Thursday.
Shenzhen Honor Electronic (SHE:300870) plans to suspend the conversion of convertible bonds worth 644.5 million yuan until the distribution of its 2025 dividend, according to a Shenzhen bourse filing on Friday.The suspension period will be between May 19 and 29.The convertible bond, dubbed as the Outong convertible bond, was issued on July 5, 2024.The electronic components maker's shares dropped by less than 4% at the close.
Japan's NEC (TYO:6701) will retain stable financials in line with its rating after the acquisition of U.S.-based software company CSG, S&P Global Ratings said in a Friday release.The technology company's profitability boost should anchor its financial profile after the 40 billion yen purchase, S&P said.The rating agency sees a moderate expansion in the company's EBITDA due to solid domestic digital transformation and disposal of low-profit segments.S&P expects the debt-to-EBITDA ratio to continue at about 0.6x following the acquisition.The company will be aggressive in increasing its investments, as seen in the planned investment capacity of between 1.2 trillion yen and 1.3 trillion yen for fiscal years 2026 to 2030.The company will keep its solid financial metrics through controlled financial management, but a rating upgrade will depend on its capital allocation plan, S&P said.