Zhejiang Headman: Plans to raise no more than RMB 580 million via private placement for high-end machine tool project.

Zhejiang Headman Machinery announced that its 2026 private placement to specific targets plans to raise no more than RMB 580 million in gross proceeds, with the net amount after deducting issuance expenses to be fully invested in a high-end composite machine tool industrialization project. The project involves a total investment of RMB 917 million, has a construction period of 36 months, and is located in Yuhuan City, Zhejiang Province. The project will expand production capacity for T-series CNC lathes and automated production lines, while also establishing industrialization of high-end products such as horizontal machining centers and five-axis simultaneous machining centers, enriching the product matrix and enhancing market competitiveness. This fundraising project is directed toward the field of technological innovation and aligns with national industrial policies and the company's development strategy.