Gelonghui, November 26 - Xiangtan Electric Manufacturing (600416.SH) announced that the company has obtained approval from the Hunan Provincial State-owned Assets Supervision and Administration Commission, agreeing to issue A-shares to specific objects, with the number of shares not exceeding 397.6219 million shares and a total fundraising amount not exceeding 2 billion yuan. The funds will be used for the serialization research and development and industrialization projects of aviation electrical systems, the R&D and industrialization projects of magnetic levitation bearing high-speed electric machine systems, and to supplement the company's working capital.