According to Zhitong Finance App News, Qifan Cable (605222.SH) disclosed plans to issue A-shares to specific targets in 2024. The company will issue no more than 35 specific investors (inclusive) of A-shares to specific targets. The number of A-shares issued this time is no more than 125 million shares (inclusive), which is no more than 30% of the company's total share capital before the issuance. The total capital raised by issuing shares to specific targets is no more than 1 billion yuan (inclusive). After deducting the issuance fee, it is intended to be used for the Pingtan Sea Cable Base project and supplementary working capital.