West Shanghai: Announcement on Changes to Fundraised Capital Investment Projects, Addition of New Project Implementation Entities, and Related Party Transactions

NightAirdropper · 2026-03-15T17:42:06+00:00

West Shanghai Company announced the termination of the passenger vehicle three-dimensional intelligent distribution center expansion project. The raised funds of 130.1056 million yuan will be used for the Wuhan Yuanfeng Automobile Parts Research and Development Production Base project, with expected production commencement in 2026 and full capacity achievement in 2031.

NightAirdropper

2026-03-15 17:42:06

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Securities Daily News reported that on March 12, Xishanghai announced the termination of the “Passenger Car Stereoscopic Intelligent Distribution Center (Stereoscopic Warehouse) Expansion Project.” The company will reallocate the 130.1056 million yuan of raised funds, whose use was previously unclear, to the “Wuhan Yuanfeng Automotive Parts Co., Ltd. Automotive Parts R&D and Manufacturing Base Project.” The funds will be provided as a loan to the controlling subsidiary Wuhan Yuanfeng to acquire the state-owned land use rights and buildings held by Senshi Automotive Seat Industry (Wuhan) Co., Ltd., and to carry out renovation and expansion. The project is expected to be operational by October 2026, reach full capacity by 2031, and produce 1.7152 million sets of disc brakes and accessories annually.

(Edited by Cong Kexin)

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