Summary by Futu AI
China Energy Construction Co., Ltd. (referred to as "Ch Energy Eng") announced on June 11, 2024 that it plans to issue A shares of stocks to no more than 35 specific recipients, raising a total of no more than 9 billion RMB. This is intended to meet the capital needs of the company's business development, enhance profitability, and strengthen core competitiveness. The company has achieved significant performance in both new and traditional energy construction fields, with revenue of over 406 billion yuan in 2023, a year-on-year increase of 10.82%. This issuance will help optimize the company's financial structure, reduce liquidity risk, and further enhance the company's market position. The issuing plan has been approved by the relevant shareholders' meeting and will be implemented after being approved by the Shanghai Stock Exchange and registered with the China Securities Regulatory Commission.