Core Viewpoint - Luvi Optoelectronics (688401.SH) plans to raise up to 1.38 billion yuan through a private placement to support its high-precision mask production project and improve liquidity [1][2]. Group 1: Financing and Investment - The company intends to invest 1.07 billion yuan in the first phase of the Xiamen high-precision mask production base project, with 310 million yuan allocated for working capital and repaying bank loans [1][2]. - The project aims to establish five new production lines for high-precision masks, increasing capacity by 1,813 units upon completion [2]. Group 2: Market Position and Performance - Luvi Optoelectronics is the only domestic company capable of mass-producing G11 masks, benefiting from a growing market for display materials in China [2]. - The company reported a revenue of 827 million yuan and a net profit of 172 million yuan for the first three quarters of 2025, reflecting a year-on-year increase of approximately 37.25% and 41.88%, respectively [4][5]. Group 3: Customer Base and Production Capacity - The company has over 500 cooperative clients, with more than 70 long-term clients experiencing over 30% growth in sales revenue [4]. - The company is advancing its semiconductor mask project, with ongoing production and testing for various process nodes, including 90nm and 40nm [4]. Group 4: Financial Metrics - As of the third quarter of 2025, the company's gross margin was 36.4% and net margin was 23.09%, both showing year-on-year growth due to improved product structure and cost management [5].

1月21日，路维光电公告，拟定增募资不超13.8亿元，用于厦门路维光电高世代高精度掩膜版生 产基地项目（一期）、补充流动资金及偿还银行借款。 | 序号 | 募集资金投资项目 | 计划投资总额 | 拟使用募集资金 | | --- | --- | --- | --- | | | 厦门路维光电高世代高精度掩膜版生 产基地项目(一期) | 130,089.17 | 107.000.00 | | | 补充流动资金及偿还银行借款 | 31,000.00 | 31,000.00 | | | 合计 | 161,089.17 | 138,000.00 | 据悉， 掩膜版是微电子制造过程中的图形转移母版，是平板显示、半导体等行业生产制造过程中 关键材料。 公告显示， 本募集资金投资项目为"厦门路维光电高世代高精度掩膜版生产基地项目（一期）"， 建设单位和实施主体是厦门路维光电有限公司，主要建设内容为新建5条高精度平板显示掩膜版生 产线， 重点研发生产G8.6及以下AMOLED/LTPO/LTPS高精度光掩膜版 。 该项目 是对现有产品线在高精度、高世代方向的战略扩充与升级，建成达产后将为公司新增 1,813片高精度掩膜版的产能。 ...

新京报贝壳财经讯1月21日，路维光电发布公告称，本次向特定对象发行股票方案已经当天召开的公司 第五届董事会第二十五次会议审议通过，本次发行拟募集不超过13.8亿元，用于厦门路维光电高世代高 精度掩膜版生产基地项目(一期)、补充流动资金及偿还银行借款。 ...

Core Viewpoint - Lu Wei Optoelectronics (688401.SH) has reached a historical high in stock price, announcing a plan to issue A-shares to specific investors to raise up to RMB 138 million for various projects, including the construction of a high-precision mask production base in Xiamen and to supplement working capital and repay bank loans [1]. Fundraising Plan - The total planned investment for the Xiamen high-precision mask production base project (Phase I) is RMB 130,089.17 million, with RMB 107 million expected to be funded from the raised capital [2]. - An additional RMB 31 million will be allocated for working capital and bank loan repayment, bringing the total planned investment to RMB 161,089.17 million [2]. Issuance Details - The stock issuance will adopt a competitive pricing method, with the issue price set at no less than 80% of the average trading price of the company's A-shares over the 20 trading days prior to the pricing date [2]. - The number of shares to be issued will not exceed 57,750,180 shares, which is 30% of the total share capital after excluding shares held in the repurchase account [3]. Approval Process - The issuance plan has been approved by the company's board of directors and is pending approval from the shareholders' meeting, the Shanghai Stock Exchange, and the China Securities Regulatory Commission [3]. Shareholding Structure - As of the announcement date, the actual controller of the company, Du Wubing, holds 23.81% of the shares directly and controls an additional 7.61% through Lu Wei Investment [3]. - Following the issuance, Du Wubing's direct shareholding is expected to decrease to 20.43%, while maintaining control of the company [4]. Previous Fundraising - Lu Wei Optoelectronics previously raised RMB 83,600.67 million through an initial public offering (IPO), with a net amount of RMB 76,051.05 million after deducting issuance costs [5]. - The company had initially planned to raise RMB 40,505.26 million for various projects, including the expansion of high-precision semiconductor masks and the establishment of a research and development center [5].

Group 1: Profit Forecasts - Gan Li Pharmaceutical expects a net profit of 1.1 billion to 1.2 billion yuan for 2025, an increase of 78.96% to 95.23% year-on-year [1] - Astone Technology anticipates a net loss of 40 million to 60 million yuan for 2025, compared to a loss of 25.34 million yuan in the previous year [2] - JinkoSolar forecasts a net loss of 5.9 billion to 6.9 billion yuan for 2025 [6] - Time Space Technology expects a net loss of 235 million to 290 million yuan for 2025 [7] - Phi Li Hua predicts a net profit of 412 million to 472 million yuan for 2025, a year-on-year increase of 31.12% to 50.22% [8] - Southern Precision expects a net profit of 300 million to 370 million yuan for 2025, representing a growth of 1130% to 1417% [10] - Daikin Heavy Industries anticipates a net profit of 1.05 billion to 1.2 billion yuan for 2025, an increase of 121.58% to 153.23% [11] - Qianfang Technology expects a net profit of 250 million to 320 million yuan for 2025, recovering from a loss of 1.193 billion yuan in the previous year [18] - Bohai Leasing forecasts a net loss of 250 million to 500 million yuan for 2025, with a significant goodwill impairment loss expected [13] - Qujiang Cultural Tourism anticipates a net loss of 130 million to 165 million yuan for 2025 [31] Group 2: Corporate Announcements - Hualan Biological Engineering received approval for clinical trials of its recombinant shingles vaccine [3] - Baishan Nonferrous Metals announced the resignation of its chairman, Wang Pugong, due to work changes [4] - Binhai Energy plans to invest approximately 548 million yuan in two projects related to porous carbon and silicon-carbon anode materials [15] - Nankai Group signed a 296 million yuan equipment sales contract with Inner Mongolia Xijin Mining Co., Ltd. [16] - Tianhua New Energy is planning to issue H-shares and list on the Hong Kong Stock Exchange [12] - Xinneng Technology is also planning to issue H-shares and apply for listing on the Hong Kong Stock Exchange [28] - Lu Wei Optoelectronics intends to raise no more than 1.38 billion yuan through a private placement [26]

Key Points - Hunan Silver's future market price for silver products has uncertainty regarding its ability to continue rising or maintain high levels [1] - Zhite New Materials may apply for a trading suspension again if its stock price experiences further abnormal increases [1] - Binhai Energy plans to invest in the construction of porous carbon and silicon-carbon anode material projects [1] - Baotai's subsidiary signed a construction contract worth 85.5626 million yuan with an affiliated party [1] - Limin Co. expects a net profit growth of 471.55%-514.57% year-on-year for 2025 [1] - Han Jian Heshan intends to acquire 52.51% equity in Xingfu New Materials, with trading suspension starting January 22 [2] - Xingfa Group plans to repurchase company shares with an investment of 200 million to 400 million yuan [1] - Actual controller of Hengshuai Co. plans to reduce holdings by no more than 2.16% [1] - Lu Wei Optoelectronics intends to raise no more than 1.38 billion yuan through a private placement [1]

Core Viewpoint - The company plans to raise no more than 1.38 billion yuan through a private placement to fund the construction of a high-generation, high-precision mask production base, supplement working capital, and repay bank loans [1] Group 1: Company Developments - The company is the only domestic enterprise capable of mass-producing G11 mask plates, having accumulated substantial technical expertise and quality customer resources [1] - The existing production capacity for high-generation, high-precision mask plates is nearing saturation, limiting the company's ability to expand market share and meet future demand from core customers [1] - The fundraising project aims to significantly enhance the company's production capacity in high-generation mask products and high-precision AMOLED, LTPO, and LTPS mask fields, effectively meeting the urgent incremental demand from the downstream market [1] Group 2: Industry Context - The global flat panel display industry is undergoing a structural upgrade from traditional LCD to new generation display technologies such as AMOLED and LTPO, with high refresh rate and low power consumption AMOLED/LTPO panel demand growing rapidly, especially in smartphones, automotive displays, and high-end IT applications [1] - The project aligns with national directives to strengthen supply chain resilience and promote high-end, intelligent, and green development in manufacturing, addressing critical "bottleneck" issues in the industry chain [2] - The implementation of this project will significantly enhance the domestic supply capability of high-precision mask products, reducing reliance on imported materials for downstream panel manufacturers, thereby supporting the establishment of a self-sufficient, secure, and controllable industrial ecosystem in China's new display industry [2]

路维光电(688401.SH)发布2026年度向特定对象发行A股股票预案，本次向特定对象发行股票募集资金总 额不超过人民币13.8亿元(含本数)，扣除发行费用后，用于以下项目的投资：厦门路维光电高世代高精 度掩膜版生产基地项目(一期)、补充流动资金及偿还银行借款。 ...

智通财经APP讯，路维光电(688401.SH)发布2026年度向特定对象发行A股股票预案，本次向特定对象发 行股票募集资金总额不超过人民币13.8亿元(含本数)，扣除发行费用后，用于以下项目的投资：厦门路 维光电高世代高精度掩膜版生产基地项目(一期)、补充流动资金及偿还银行借款。 ...

证券简称：路维光电 证券代码：688401 转债简称：路维转债 转债代码：118056 深圳市路维光电股份有限公司 （深圳市前海深港合作区南山街道梦海大道 5035 号前海华润金融中心 T5 写字楼 801） 2026 年度向特定对象发行 A 股股票方案的 论证分析报告 二〇二六年一月 深圳市路维光电股份有限公司（以下简称"发行人"或"公司"）为满足公 司经营战略的实施和业务发展的资金需求，扩大公司经营规模，提升公司的综合 竞争力，公司考虑自身实际状况，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》"）和《上市公司证券 发行注册管理办法》（以下简称"《注册管理办法》"）等有关法律、行政法规、部 门规章或规范性文件和《深圳市路维光电股份有限公司章程》（以下简称"《公司 章程》"）的规定，公司编制了向特定对象发行 A 股股票方案的论证分析报告。 本论证分析报告中如无特别说明，相关用语具有与《深圳市路维光电股份有 限公司 2026 年度向特定对象发行 A 股股票预案》中相同的含义。 2 第一节 本次向特定对象发行股票的背景和目的 一、本次向特定对象发行股票的背 ...