PVTIME – On 6 March 2024, Shenzhen Sunrise New Energy Co, Ltd (Sunrise, 002256.SZ), formerly known as Shenzhen Rainbow Fine Chemical Industry Co, Ltd, known for manufacturing and exporting industry-leading aerosol paints and car care products, announced its proposal to issue 132 million A-shares to specific targets at 1.82 yuan/share to raise gross proceeds of not more than 240 million yuan.
The funds will be used for a low-carbon intelligent production base integrated with solar power, energy storage and electricity charging in He County, Anhui Province of China, a distributed solar power project with an installed capacity of 3,796.68KW in Auto Parts Industrial Park, He County, another distributed solar power project with an installed capacity of 4,344.2KW in Yangtze River Delta Integration Economic Park, He County, a BIPB solar module production project with a capacity of 1GW, as well as for additional working capital and debt repayment.
These investments will help the Company to meet the market demand for new energy and photovoltaic products, expand its solar power generation business and enhance its overall competitiveness in the photovoltaic industry. In addition, Sunrise previously announced that it intends to launch an intelligent robot business to enhance its performance and profit.
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