Western Superconductor plans to raise 2 billion yuan to invest in multiple projects

Western Superconductor (688122) announced on the evening of July 8 that it plans to raise funds not to exceed 2.

Western Superconductor (688122) announced on the evening of July 8 that it plans to raise funds not to exceed 2.

Western Superconductor is mainly engaged in the research and development, production and sales of high-end titanium alloy materials, superconducting products and high-performance superalloy materials

The sales of high-performance titanium alloy products are one of the main sources of income of Western Superconductor.

Western Superconductor said that in order to better meet the growing supply demand from downstream, the company built a new titanium alloy melting workshop and a bar and wire manufacturing workshop through this fundraising project, and added a vacuum induction melting furnace, a large hydraulic press, and a mixing and distributing system.

It is reported that Western Superconductor's industry has the characteristics of rapid product technology upgrade and large R&D investment.

Part of the funds raised by Western Superconductor will be used for forward-looking R&D projects in industries such as high-performance titanium alloys, high-temperature alloys, and superconducting materials, which will help the company’s R&D level and technical reserves in the field of advanced metal materials, and improve the company’s future The core competitiveness in the market promotes the technological progress and product upgrading of China's non-ferrous metal processing industry

In addition, with the further expansion of the business scale of Western Superconducting in the future, the company's demand for working capital continues to rise

Western Superconductor stated that after the completion of the related projects with funds raised, the company will break through the existing bottlenecks in the production capacity of high-performance titanium alloys, high-temperature alloys, and superconducting materials, and further improve the company’s high-performance titanium alloys, high-temperature alloys, and superconducting material products.
The competitiveness and industry influence in the domestic and foreign markets significantly enhance the company's ability to guarantee the supply of major equipment and materials such as aircraft and engines in China, and meet the needs of national security, which is of great national defense significance
.