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Guantao advises KEDE CNC on non-public offering of securities to specific investors

Kede Numerical Control Co., Ltd. ("KEDE CNC" or the "Company") (stock code: 688305) has successfully completed issuance of shares to specific investors in 2023 recently.  The number of shares issued this time was 8,525,149 at the issue price of RMB70.38 per share, and the total amount of proceeds raised was RMB 599,999,986.62.  The subscribers of this issuance included 11 well-known institutional investors, including Industrial Machine Tools Industry Investment Fund (Limited Partnership), the Second Phase of China Structural Reform Collaborative Development Fund Co., Ltd., and China North Industries Corporation (NORINCO).  Guantao acted as the PRC legal counsel for KEDE CNC. 

In this issuance, KEDE CNC, through capital cooperation with national investment and financing platforms, speeds up the development of new quality productivity, helps to push forward the replacement of domestic products, and promotes the transformation of high-end products, so as to further achieve the national strategic goals.  At the same time, it can also effectively stimulate the enthusiasm of social capital to invest in the manufacturing industry, promote the high-quality development of China's manufacturing industry, and turns into a new journey of manufacturing powerhouse! 

The proceeds raised will be invested by the Company into the field of scientific and technological innovation, and mainly applied to the 5-axis linkage numerically-controlled machine tool board of the Company's main business, which falls into the field of industrial machine tools whose development is particularly encouraged in the 14th Five-Year Plan by the State.  The implementation of the investment is conducive to the Company's further optimizing the layout of production capacity, enhancing scientific research and innovation capabilities, adding strong driving force to new quality productivity and improving the scale of income, level of profitability and comprehensive competitiveness.  More domestic high-end industrial machine tools and more advanced and efficient solutions will be provided for the aviation, aerospace, military, energy, automobile, cutters and other fields. 

Guantao advised KEDE CNC on this issuance of shares. The leading partners were Ms. Hao Jingmei and Ms. Han Xu, and they were assisted by Li Airong and Liu Yifan.