Hangcha Group Plans 2.259 Billion Yuan Convertible Bonds for Forklift Robot Expansion
On September 15, after market close, Hangcha Group (SH603298) announced plans to issue convertible corporate bonds to unspecified investors, targeting up to 2.259 billion yuan with a six-year term. The company's shares closed at 21.66 yuan, giving it a market capitalization of 26.7 billion yuan. The move supports its robotics expansion.
After deducting issuance expenses, the proceeds will be allocated to four key initiatives: constructing a smart factory for forklift robots, expanding new energy forklift production, advancing R&D for forklift and logistics robots, and supplementing working capital. These investments reflect Hangcha's strategic focus on automation and intelligent logistics solutions.
The fundraising comes on the heels of strong performance in Hangcha's intelligent logistics business, which saw revenue grow by more than 30% in the first half of the year. This growth highlights the rising demand for automated solutions. The new capital aims to further strengthen the company's position in the competitive embodied AI and robotics market.