Guangdong Xianglu Tungsten Co., Ltd. has released its latest announcement confirming the successful completion of its private placement to specific investors. The company issued a total of 16,465,652 new shares at an offer price of 29.81 yuan per share, resulting in gross proceeds of 490,841,086.12 yuan. After deducting issuance-related expenses, the net proceeds amount to 477,018,975.57 yuan.

The newly issued shares are scheduled to begin trading on the Shenzhen Stock Exchange on September 24, 2026. The placement attracted nine investors, including Nord Fund Management Co., Ltd., Caitong Fund Management Co., Ltd., and Guo Weisong, all of whom subscribed for the shares in cash. These new shares will be subject to a six-month lock-up period starting from the listing date, during which they cannot be transferred or sold.

This capital raise is expected to provide additional financial resources for the company's ongoing operational and strategic initiatives, strengthening its position in the tungsten industry.