Core Viewpoint - Zhejiang Fulai New Materials Co., Ltd. plans to issue A-shares to specific investors, which has been approved by the board and is pending shareholder and regulatory approvals. The company has analyzed the impact of this issuance on immediate returns and proposed measures to mitigate any dilution effects on shareholders [1][2][67]. Financial Impact Analysis - The issuance will involve up to 9.44% of the total share capital, equating to a maximum of 26,443,202 shares, with total fundraising not exceeding 710 million yuan [3][5]. - The company reported a net profit of 50.93 million yuan for the first half of 2025, projecting various growth scenarios for 2026 [4][5]. Fundraising Purpose and Projects - The funds raised will be allocated to several projects, including: - Expansion of label printing materials, which saw a revenue increase of 23.53% in 2024 and 27.83% in the first half of 2025 [7][8]. - Upgrading electronic-grade functional materials, with revenue growth of 61.91% in 2024 and 28.02% in the first half of 2025 [9]. - Upgrading the R&D center to enhance innovation capabilities [10]. - Supplementing working capital to support ongoing business expansion [11]. Management and Operational Readiness - The company has established a strong talent pool in both label printing and electronic-grade materials, ensuring project implementation [12]. - It has developed a robust technical reserve through continuous R&D efforts, enhancing production efficiency and product quality [13]. - The company has built long-term relationships with leading enterprises in various downstream industries, ensuring market stability and growth [14]. Measures to Mitigate Dilution - The company will strengthen fundraising management to ensure effective use of raised funds [16][17]. - It aims to enhance operational management to improve efficiency and reduce costs [18]. - The company plans to optimize its profit distribution policy to ensure shareholder returns, particularly for minority shareholders [19]. Commitments from Management - The board and senior management have committed to ensuring the effectiveness of the measures to mitigate immediate return dilution [20][21].

Core Viewpoint - Folei New Materials (605488) plans to raise up to 710 million yuan through a private placement of shares, with net proceeds aimed at expanding production capacity for label printing materials, upgrading electronic-grade functional materials, enhancing the R&D center, and supplementing working capital [1][2] Group 1: Company Overview - Folei New Materials is the first company in China's inkjet printing composite materials industry to achieve integration of base film, adhesive, and coating [1] - The company's products include advertising inkjet printing materials, label printing materials, electronic-grade functional materials, functional base film materials, and adhesive materials [1] Group 2: Industry Trends - The functional coating composite materials industry has been encouraged by various policies, leading to continuous expansion of the industry scale and breakthroughs in core technologies, indicating significant future market potential [1] - The growth of e-commerce and changes in consumer shopping habits have driven an increase in demand for film labels with unique advantages such as waterproof, moisture-proof, and oil-resistant properties [1] - The trend towards lightweight and flexible designs in consumer electronics and automotive electronics necessitates electronic-grade adhesive materials that meet high standards for adhesion, weather resistance, and insulation [1] Group 3: Business Strategy - Folei New Materials has achieved sustained high growth in related business revenues by deepening cooperation with downstream customers and actively exploring overseas markets [2] - The company is strategically positioning itself in the electronic-grade functional materials sector, capitalizing on the rapid development of consumer electronics and automotive electronics, as well as the acceleration of domestic substitution [2] - The planned fundraising will enhance the company's ability to leverage industry chain synergies and diverse application advantages, providing essential capital support for seizing industry trends, expanding market share, and promoting industrial upgrades [2] Group 4: R&D Investment - The company emphasizes the need for continuous investment in R&D to maintain product competitiveness amid increasing industry competition [2] - The fundraising will support the upgrade of the R&D center, improving research infrastructure and equipment, thereby enhancing the company's technical development capabilities [2] - This project aims to align with industry technological innovation trends, ensuring the company maintains its R&D innovation advantage and leads technological changes in the industry [2]

Core Viewpoint - Zhejiang Fulai New Materials Co., Ltd. plans to raise up to 710 million yuan through a private placement of A-shares, with the funds aimed at expanding production capacity in label printing materials and electronic-grade functional materials, upgrading its R&D center, and supplementing working capital [1] Group 1: Fundraising and Investment Plans - The company intends to invest 243 million yuan in the expansion of label printing materials, with a total project investment of approximately 289 million yuan, which will add an annual production capacity of about 77.3 million square meters [2] - An additional 221 million yuan is planned for the upgrade of electronic-grade functional materials, with a total project investment of around 278 million yuan, expected to add an annual production capacity of 37 million square meters [2] Group 2: Market Opportunities and Competitive Position - The label printing materials market is experiencing growth driven by new retail and smart logistics, with a significant demand for environmentally friendly and high-performance materials, positioning the company to capitalize on these trends [2] - As one of the few domestic companies capable of stable large-scale supply, the company is expected to strengthen its competitive advantage and market share during the industry's consolidation phase [2] Group 3: R&D and Financial Strategy - The company plans to allocate 36.3 million yuan for upgrading its R&D center and 210 million yuan for supplementing working capital, indicating a comprehensive approach to enhance its operational capabilities [3] - The strategic plan combines core business expansion, R&D enhancement, and financial structure optimization, aiming to solidify the company's position in the functional coating composite materials sector and prepare for emerging markets in consumer electronics and automotive electronics [3]

证券代码：605488 证券简称：福莱新材 公告编号：临 2025-119 债券代码：111012 债券简称：福新转债 浙江福莱新材料股份有限公司 第三届董事会第十七次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 浙江福莱新材料股份有限公司（以下简称"公司"）第三届董事会第十七次会 议于 2025 年 9 月 2 日以现场结合通讯的方式召开。会议通知于 2025 年 8 月 30 日以邮件通知的方式发出，会议的召开符合《公司法》和相关法律法规以及《公 《董事会议事规则》的规定。会议应出席董事 8 人，实际出席董事 8 人。 司章程》 本次会议由董事长夏厚君先生主持，公司高级管理人员列席了会议。会议经过讨 论审议，以书面投票表决方式通过了以下决议： 一、审议通过《关于公司符合向特定对象发行 A 股股票条件的议案》 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和 国证券法》（以下简称"《证券法》"）、《上市公司证券发行注册管理办法》等法 律、法规和规范性文件的有关规定并结合公司实际情况，公司 ...

证券代码：605488 证券简称：福莱新材 公告编号：临 2025-120 债券代码：111012 债券简称：福新转债 浙江福莱新材料股份有限公司 关于召开2025年第三次临时股东会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ? 股东会召开日期：2025年9月29日 ? 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 一、 召开会议的基本情况 (一)股东会类型和届次 (二)股东会召集人：董事会 (三)投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合的方 式 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 9 月 29 日 14 点 00 分 召开地点：浙江省嘉兴市嘉善县姚庄镇利群路 269 号公司九楼会议室 (五)网络投票的系统、起止日期和投票时间。 至2025 年 9 月 29 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过 ...

Summary of Key Points Core Viewpoint The report provides an overview of the fundraising activities and the utilization of funds by Zhejiang Fulai New Materials Co., Ltd. as of June 30, 2025, confirming compliance with regulatory requirements and detailing the financial status of previous fundraising efforts. Group 1: Fundraising Overview - The company raised a total of RMB 612.90 million from its initial public offering (IPO) in 2021, with a net amount of RMB 530.63 million after deducting underwriting fees and other expenses [4][5]. - In 2023, the company issued convertible bonds, raising RMB 429.02 million, with a net amount of RMB 415.95 million after expenses [6][9]. Group 2: Fund Utilization - As of June 30, 2025, the company has utilized RMB 504.07 million of the raised funds, with RMB 12.65 million remaining in bank accounts [5][10]. - The company temporarily used RMB 50 million of idle funds to supplement working capital [20][24]. Group 3: Changes in Fund Allocation - The company approved changes to the allocation of funds for the "Functional Coating Composite Material Production Base and R&D Center Headquarters" project, reallocating 37.69% of the total funds raised [11]. - The company also transferred assets and liabilities from its subsidiary to optimize its organizational structure and improve operational efficiency [12]. Group 4: Financial Performance and Returns - The company reported a total interest income and returns from structured deposits amounting to RMB 2.47 million from the IPO funds [5][10]. - The actual investment in the "New Environmental Pre-coating Functional Material Construction Project" was RMB 31.23 million, which is lower than the committed amount due to market conditions and project delays [15][18]. Group 5: Idle Fund Management - The company has engaged in cash management by investing idle funds in low-risk, short-term financial products, achieving returns of RMB 1.06 million in 2021 and RMB 0.166 million in 2022 [20][22]. - As of June 30, 2025, all structured deposit products purchased with idle funds have been redeemed [25].

Core Viewpoint - Zhejiang Fulai New Material Co., Ltd. plans to issue A-shares to specific investors to raise up to 710 million yuan for expanding production capacity in label printing materials, upgrading electronic-grade functional materials, enhancing the R&D center, and supplementing working capital [1][5][6]. Group 1: Background and Purpose of the Issuance - The functional coating composite materials industry has been encouraged by various government policies, leading to significant market potential and growth opportunities [2][4]. - The label printing industry in China has experienced rapid growth, with the production of self-adhesive labels increasing from 7.1 billion square meters in 2019 to 9.7 billion square meters in 2023, representing a compound annual growth rate of 8.11% [2]. - The company aims to leverage its integrated production capabilities and expand its market share in both domestic and international markets, particularly in the electronic-grade functional materials sector [4][5]. Group 2: Financial Impact and Measures - The issuance is expected to dilute the immediate returns for existing shareholders, with projections indicating a decrease in earnings per share under various profit growth scenarios [16][17]. - The company has committed to measures to mitigate the dilution of immediate returns, including strict management of raised funds and enhancing operational efficiency [19][20][21]. Group 3: Issuance Details - The issuance will involve up to 35 specific investors, including qualified institutional investors and asset management companies, ensuring compliance with regulatory requirements [8][10]. - The pricing of the shares will be based on the average trading price over the 20 trading days prior to the issuance date, ensuring fairness in the pricing process [9][10]. Group 4: Conclusion - The issuance plan is deemed necessary and feasible, aligning with the company's strategic goals for sustainable growth and enhanced competitiveness in the market [21].

Core Viewpoint - Zhejiang Fulai New Material Co., Ltd. plans to issue A-shares to specific investors to raise funds for expanding production capacity and enhancing competitiveness in the functional coating composite materials industry, which is supported by government policies and market demand [9][10][11]. Group 1: Company Overview - Company Name: Zhejiang Fulai New Material Co., Ltd. - Registered Capital: RMB 201,395,263 [9] - Stock Code: 605488, Listed on Shanghai Stock Exchange [10]. Group 2: Background and Purpose of the Issuance - The issuance is driven by the rapid growth of the functional coating composite materials industry, supported by national policies such as the "14th Five-Year Plan for the Development of Raw Materials Industry" [10][11]. - The company aims to leverage its integrated production capabilities to enhance market share and drive revenue growth in the label printing and electronic-grade functional materials sectors [14][15]. Group 3: Issuance Details - The total amount to be raised is not exceeding RMB 71,000 million, with a maximum issuance of 84,062,775 shares, which is 30% of the company's total share capital prior to the issuance [19][18]. - The issuance will be conducted after obtaining approvals from the shareholders' meeting, the Shanghai Stock Exchange, and the China Securities Regulatory Commission [22]. Group 4: Use of Proceeds - The raised funds will be allocated to projects including the expansion of label printing materials production capacity and the upgrade of electronic-grade functional materials production lines [24][30]. - The label printing materials project aims to increase annual production capacity by approximately 77.3 million square meters, while the electronic-grade functional materials project will add about 3.7 million square meters of capacity [24][30]. Group 5: Market Trends and Opportunities - The label printing industry in China has seen a compound annual growth rate (CAGR) of 8.11% from 2019 to 2023, with the market size expected to continue growing [11][25]. - The electronic-grade functional materials market is also expanding, driven by the growth in consumer electronics and automotive sectors, with significant increases in smartphone and electric vehicle sales projected for 2025 [12][30].

Core Viewpoint - The company plans to issue A-shares to specific investors, which may dilute immediate returns, but it has proposed measures to compensate for this dilution and has received commitments from relevant parties to ensure these measures are implemented [1][2][6]. Financial Impact Analysis - The company estimates that the total number of shares will increase from 28,020.93 million to 30,665.25 million after the issuance, leading to a decrease in net profit attributable to shareholders from 10,186.96 million to 9,168.27 million [4][5]. - Basic earnings per share are projected to decline from 0.36 to 0.31, and diluted earnings per share are expected to decrease from 0.36 to 0.31 under the first assumption [4][5]. - Under different performance scenarios for 2026, the net profit could remain stable or increase, affecting earnings per share positively or negatively [5]. Necessity and Reasonableness of Fundraising - The fundraising project aligns with national policies and the company's strategic needs, promising good market prospects and potential returns [6][7]. - The increase in total assets and net assets post-issuance is expected to enhance the company's financial strength and reduce financial risks [6]. Business Relationship and Market Position - The company operates in the label printing materials and electronic functional materials sectors, which are experiencing significant growth due to market demand for high-performance, eco-friendly solutions [8][9]. - The electronic functional materials segment has seen revenue growth of 61.91% in 2024 and 28.02% in the first half of 2025, indicating a strong market position and growth potential [8]. Measures to Mitigate Dilution of Immediate Returns - The company will implement strict management of the raised funds to ensure they are used effectively and for designated projects [11][12]. - Operational efficiency will be enhanced through improved internal management and cost reduction strategies [12]. - The company plans to refine its profit distribution policy to ensure stable returns for investors, particularly small shareholders [12]. Commitments from Relevant Parties - The company's board and senior management have committed to ensuring the effectiveness of the measures to compensate for the dilution of immediate returns [13]. - The controlling shareholder has also made commitments to uphold the interests of the company and its investors [13].

Core Viewpoint - The company plans to raise up to RMB 71 million through a private placement of A-shares to enhance its research and development capabilities, upgrade product technology, and strengthen core business competitiveness in the rapidly growing label and consumer electronics industries [1][15]. Fundraising Plan - The total investment for the projects funded by the raised capital is RMB 840.84 million, with the net amount after deducting issuance costs intended for specific projects [1]. - The company will initially use its own funds or other means to invest in projects before the raised funds are available, and will adjust the investment projects based on the actual amount raised [1]. Investment Projects Overview Label Printing Materials Expansion Project - The project aims to build a new production line for label printing materials in Jiaxing, Zhejiang, with an expected annual capacity increase of approximately 773 million square meters [2]. - The total investment for this project is RMB 289.33 million, with RMB 243.20 million sourced from the raised funds [2]. - The project aligns with industry trends and aims to meet the growing market demand driven by sectors such as daily chemicals, food and beverage, pharmaceuticals, and e-commerce [2][4]. Electronic-grade Functional Materials Expansion Project - This project will establish a new production line for electronic-grade functional materials, adding an annual capacity of about 37 million square meters [7]. - The total investment is RMB 277.94 million, with RMB 220.50 million from the raised funds [7]. - The project targets the expanding global consumer electronics and automotive electronics markets, particularly in flexible OLED displays and new energy vehicles [7][8]. R&D Center Upgrade Project - The project involves upgrading the R&D center with advanced equipment and cleanroom facilities, with a total investment of RMB 63.57 million and RMB 36.30 million from the raised funds [9]. - This upgrade aims to enhance the company's innovation capabilities and support the development of high-value-added products in response to increasing market demands [10][11]. Working Capital Supplement - The company plans to use part of the raised funds to supplement working capital, which is essential for supporting ongoing business expansion and R&D investments [12][13]. - The company has maintained stable revenue growth, and the additional funds will help optimize its capital structure and enhance financial stability [12][15]. Market Outlook - The global label printing market is projected to grow from USD 46.14 billion in 2023 to USD 64.01 billion by 2028, indicating a strong market potential [3]. - The domestic self-adhesive label market in China is expected to exceed RMB 60 billion by 2031, driven by the increasing penetration of film labels in various applications [3][4]. - The company has seen significant revenue growth in its label printing materials, with projected revenues of RMB 675 million and RMB 402 million for 2024 and the first half of 2025, respectively, reflecting year-on-year growth rates of 23.53% and 27.83% [5]. Competitive Advantages - The company has established a strong brand presence and technical expertise in multi-functional coating composite materials, which enhances its competitive edge in the market [6][8]. - The company has received multiple awards and recognitions, including being named a "Global Innovation Supplier" by Avery Dennison, which bolsters its reputation in the industry [6]. Conclusion - The fundraising and investment projects are aligned with national industrial policies and the company's strategic development goals, aimed at enhancing competitiveness and ensuring sustainable growth [14][15].