SHA:688343

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Shenzhen Intellifusion Technologies Seeks Up to 1 Billion Yuan from Bond Issuance

Shenzhen Intellifusion Technologies (SHA:688343) plans to raise up to 1 billion yuan from the private issuance of science and technology innovation corporate bonds, according to a Thursday filing with the Shanghai bourse.The bonds will have a 10-year term with a rate to be determined through book-building and will be listed in Shanghai, the artificial intelligence chip maker said.Proceeds will help repay debt, boost working capital, fund equity investments, contributions, and other legal purposes.Shares in Intellifusion fell 2% during afternoon trading on Thursday.

SHA:688343

Asia86d ago

Intellifusion Tech Extends Completion Dates of Three Projects

Shenzhen Intellifusion Technologies (SHA:688343) extended the completion dates of three projects, according to a Shanghai bourse filing on Tuesday.The completion of the visual computing artificial intelligence chip project was moved to December, while the urban AI computing hub and next-generation scenario-oriented AI technology research and development center were both moved to June 2027.All projects were supposedly completed in June.The implementation progress of the projects lagged behind the original schedule to the macroeconomic environment, changes in demand, fluctuations in the supply market, changes in national policies and other unforeseen circumstances.The software company's shares jumped 5% at the close.

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