600 Million Yuan! Hengxing Tech to Expand Diamond Line Project

PVTIME – On November 9, Henan Hengxing Technology Co., Ltd. (002132.SZ), a leading manufacture of steel wire in China, announced that it intends to raise no more than 600 million yuan for expansion of its ultra-fine diamond line project and supplement the working capital as well as bank loans repayment.

The project is designed to reach an annual output of 20 million kilometers ultra-fine diamond line.

The company’s shipment plan is unchanged as to be 30 million kilometers per year, the company stated. And the prices of its main products remained stable in the fist half year of 2022 which the production volume was 7.55 million kilometers and the sales volume was 7.52 million kilometers in H1 2022.