Xiamen Cinda changed its fundraising investment to add LED packaging

Xiamen Xinda (000701) announced on the evening of the 22nd that the company intends to change the outdoor lighting project in the “Xiamen LED Application Expansion Project” in the fund-raising investment project to a package expansion project involving an amount of RMB 71.476 million.

In March of this year, Xiamen Xinda raised a total of 670 million yuan to invest in the construction of Anxi LED packaging new project, Xiamen LED application product expansion project, RFID product design and production line expansion project. According to the company, part of the fundraising used in the “Xiamen LED Application Expansion Project” is based on the better market demand and development prospects of LED packaging. By expanding packaging capacity and reducing product cost, the scale effect will be formed.

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