Bosch Announces 6.5 Billion Yuan Capital Raise for Battery Recycling Expansion

6.5 billion yuan! State-owned assets make a major move in battery recycling. Bosch announced that it plans to issue shares to state-owned Ningguo, with the number not exceeding 30% of the total share capital before the issuance and plans to raise capital of no more than 6.5 billion yuan, with the proceeds to be used for the company's working capital after deducting issuance expenses.

Bosch stated that the funds raised from the issuance of shares to specific entities will effectively enhance its liquidity level during the development and transformation process, and promote the future core business development of power battery recycling and new energy sanitation vehicle production.