en.Wedoany.com Reported - China's Lizhong Group has announced a plan to issue convertible corporate bonds, aiming to raise no more than 1.18 billion yuan. The funds will be used for projects including ultra-lightweight aluminum alloy wheels, forged commercial vehicle wheels, lightweight cast-spun aluminum alloy wheel upgrades, microcrystalline silicon-aluminum composite new materials and precision components, high-end special master alloy research and development, and supplementary working capital.
On the evening of July 3, Lizhong Group disclosed a plan to issue convertible corporate bonds to unspecified investors, with a total fundraising amount not exceeding 1.18 billion yuan. After deducting issuance expenses, the funds will be allocated to the "Annual Production of 3 Million Ultra-Lightweight Aluminum Alloy Wheels and 180,000 Forged Commercial Vehicle Wheels Project," "Annual Production of 2 Million Lightweight Cast-Spun Aluminum Alloy Wheel Upgrade and Energy-Saving Renovation Project," "Microcrystalline Silicon-Aluminum Composite New Materials and Precision Components Expansion and Renovation Project," "High-End Special Master Alloy Research and Development Project," and supplementary working capital.
According to the announcement, the investment projects funded by this fundraising are centered around Lizhong Group's main business and long-term development strategy, which will help enhance its core competitiveness.
The Microcrystalline Silicon-Aluminum Composite New Materials and Precision Components Expansion and Renovation Project will be implemented by Lizhong Group's wholly-owned subsidiary, Hebei Xinlizhong Nonferrous Metals Group Co., Ltd., with a total investment of 111.00 million yuan, of which 100.00 million yuan is planned to be raised from the fundraising. The project site is located at No. 338, Fazhan West Road, Qingyuan District, Baoding City. Upon completion, it will add an annual production capacity of 85 tons of microcrystalline silicon-aluminum composite new materials for external sales, aiming to improve the supporting system of the industrial chain and enhance China's self-sufficiency in core components of strategic emerging industries.
Microcrystalline silicon-aluminum composite new materials and precision components are key strategic supporting materials in the high-end equipment manufacturing sector. They offer comprehensive properties such as low density, low thermal expansion, high thermal conductivity, and high stiffness, meeting the production needs of core components in multiple strategic emerging industries. In the semiconductor and precision manufacturing equipment field, they can be used for precision motion platform structural parts, base plates, laser fixtures, laser system heat sinks, wafer chucks, wire bonding equipment structural parts, and PCB system guide devices. In the electronics and communications field, they are applicable to RF power device housings, RF microwave modules, T/R module packaging, PCB circuit substrates, high-frequency circuit carriers, high-brightness LED wafer substrates/heat dissipation brackets, various sensor housings, and millimeter-wave antenna backplanes and housing structures. In the optical precision instrument field, they can be used for mirror substrates, nickel-plated mirror bases, waveguide microscope frames, precision optical components, optical glass molding dies, and matching low-expansion fasteners. In the aerospace field, they are suitable for spacecraft cabin load-bearing columns, satellite antenna frames, satellite waveguides, satellite trusses, and aviation structural parts. In the automotive and rail transit field, they can be used for brake discs, engine cylinder liners, bushings, connecting rods, and other core automotive components, as well as brake discs and lightweight structural parts for rail transit vehicles. In the new energy equipment field, they are applicable to IGBT module packaging substrates and energy storage system thermal management structural parts.
Microcrystalline silicon-aluminum composite new materials are one of the foundational materials supporting China's strategic emerging industries. Lizhong Group has long been deeply involved in this sector, undertaking multiple provincial-level strategic emerging industry projects, major scientific and technological research initiatives, and future industry innovation projects, achieving breakthroughs in key technologies.
The company's undertaken Hebei Province strategic emerging industry project, "Silicon Carbide Aluminum Matrix Dispersion Composite Material Industrialization Project," has passed acceptance. The undertaken Hebei Province major scientific and technological research project, "Research on Rapid Solidification Method for Preparing Microcrystalline Aluminum Alloy Technology," focuses on innovative design of microcrystalline aluminum alloy composition, activation of high-temperature powder homogenization technology, and microcrystalline aluminum alloy preparation and heat treatment technology, establishing a complete technology industry chain and industrial production line. The undertaken Hebei Province major science and technology support plan future industry technology innovation special project, "Performance Control and Preparation Application Research of Bimetal High-Silicon Aluminum Alloy Gradient Composite Materials," has overcome key technologies such as multi-functional aluminum-based gradient material composition innovative design and preparation technology, microstructure and interface strength and thermophysical property coordination control technology, and residual stress elimination in microwave packaging housing devices, achieving localization of products and technologies in critical "bottleneck" new material fields.
