Core Viewpoint - Qingdao Zhenghe Industrial Co., Ltd. plans to issue shares to specific investors to raise up to 818 million yuan for business expansion and working capital, aligning with national agricultural modernization strategies and enhancing its competitive edge in the agricultural machinery sector [1][11][30]. Group 1: Background and Purpose of the Issuance - The issuance aims to support the development of chain transmission systems, which are crucial in various sectors including automotive and agricultural machinery, thereby enhancing the manufacturing capabilities of the country [2][3]. - The Chinese agricultural sector is transitioning towards modernization, with a focus on mechanization as a key strategy for ensuring food security and promoting economic growth [3][4]. - The market for agricultural machinery in China is projected to grow from approximately 82.2 billion yuan in 2024 to 146.7 billion yuan by 2030, with a compound annual growth rate of about 10.1% [4][5]. Group 2: Use of Proceeds - The funds raised will be allocated to projects including the expansion of agricultural machinery components, development of garden tool chains, and integrated R&D for micro-chain systems, which are in line with the company's strategic direction [1][11][30]. - The company aims to enhance its production capacity and product quality in the agricultural machinery sector, where it has maintained a leading market share for nine consecutive years [9][30]. Group 3: Market Opportunities - The global market for smart agricultural machinery is expected to grow significantly, from 11.8 billion yuan in 2024 to 103.9 billion yuan by 2030, reflecting a compound annual growth rate of approximately 43.6% [5]. - The demand for garden tools is increasing due to rising living standards and urbanization, with an estimated 250 million gardens globally requiring regular maintenance [6][30]. Group 4: Competitive Advantage - The company has established a strong competitive position in the agricultural machinery components market, leveraging its expertise in chain transmission technology to expand into new product areas [8][9]. - The company is well-positioned to capitalize on the growing demand for high-quality agricultural machinery and components, supported by favorable national policies and increasing export opportunities [7][30].

关于 2025 年度向特定对象发行 A 股股票预案披露的提示性 公告 证券代码：003033 证券简称：征和工业 公告编号：2025-047 青岛征和工业股份有限公司 本次向特定对象发行 A 股股票预案及相关文件的披露不代表审批机关对于 本次发行相关事项的实质性判断、确认或批准，本次发行相关事项的生效和完成 尚待公司股东大会审议通过、深圳证券交易所审核通过并经中国证券监督管理委 员会同意注册，敬请广大投资者注意投资风险。 特此公告。 青岛征和工业股份有限公司董事会 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 青岛征和工业股份有限公司（以下简称"公司"）于 2025 年 8 月 21 日召开 第四届董事会第十五次会议、第四届监事会第十二次会议，审议通过了《关于公 司 2025 年度向特定对象发行 A 股股票方案的议案》《关于公司 2025 年度向特 定对象发行 A 股股票预案的议案》等公司向特定对象发行 A 股股票（以下简称 "本次发行"）的相关议案。具体内容详见公司在巨潮资讯网（www.cninfo.com.cn） 披露的《2025 年度向特定对象发行 A ...

Group 1 - The company Qingdao CHOHO Industrial Co., Ltd. plans to issue A-shares to specific investors in 2025, aiming to raise a total of up to 818 million RMB [27][30] - The issuance is intended to support the company's expansion in the agricultural machinery and garden tools sectors, which are expected to benefit from national policies promoting agricultural modernization [11][18] - The company has established a strong competitive advantage in the agricultural chain system market, maintaining the highest market share for nine consecutive years [18] Group 2 - The funds raised will be allocated to various projects, including the expansion of agricultural machinery components and the development of garden tool systems [27][18] - The issuance will not change the company's control structure, as the major shareholders will retain their controlling stakes post-issuance [28][29] - The company is positioned to leverage the growing demand for agricultural machinery and garden tools, driven by increasing mechanization and urbanization trends [14][15] Group 3 - The agricultural machinery market in China is projected to grow from approximately 82.2 billion RMB in 2024 to 146.7 billion RMB by 2030, with a compound annual growth rate of about 10.1% [14] - The global smart agricultural machinery market is expected to experience rapid growth, with projections indicating an increase from 11.8 billion RMB in 2024 to 103.9 billion RMB by 2030, reflecting a compound annual growth rate of 43.6% [14] - The company aims to enhance its production capacity and product quality in response to the increasing market demand for high-end agricultural machinery and components [18][20]

Fundraising Plan - The total amount of funds raised through the issuance of shares will not exceed 818 million yuan, which will be used for specific projects after deducting issuance costs [1][2] Project Necessity and Feasibility Analysis Agricultural Machinery Component Expansion Project - The project aims to expand production capacity for agricultural machinery components, with a total investment of 433.48 million yuan, expected to yield a post-tax internal rate of return of 14.72% and a payback period of 8.42 years [2][3] - The project responds to the growing market demand driven by global population growth and increasing food needs, with the Chinese agricultural machinery market projected to reach 82.2 billion yuan in 2024 and grow to 146.7 billion yuan by 2030, reflecting a compound annual growth rate of approximately 10.1% [2][3] - The project will enhance the company's production capabilities and market competitiveness by adopting advanced production processes, thereby supporting the company's strategic goals and expanding profit margins [3][4] Garden Tool Chain System Project - This project involves an investment of 200.69 million yuan to produce saw chains, guide bars, and garden knives, with an expected post-tax internal rate of return of 13.04% and a payback period of 8.56 years [8][9] - The project capitalizes on the increasing demand for garden tools driven by urbanization and the growth of the gardening market, with the global garden equipment market projected to reach 72.39 billion dollars in 2024 [8][9] Micro Chain System R&D Project - The project focuses on the research and development of micro chain systems and is expected to enhance the company's core competitiveness in the market [11][12] - The project aligns with industry trends and government policies promoting innovation in robotics and smart technologies, providing a favorable environment for development [12][13] Use of Funds - A portion of the raised funds, amounting to 130 million yuan, will be used to supplement working capital, which is essential for the company's operational needs and to maintain sustainable growth [15][16] - The company aims to optimize its capital structure and improve its risk management capabilities through this fundraising initiative [15][16] Impact on Company Operations and Financial Status - The fundraising will enhance the company's asset scale and capital strength, contributing to improved liquidity and risk management [17] - While there may be a short-term decline in financial metrics such as return on equity and earnings per share, the long-term benefits of the projects are expected to enhance profitability and operational efficiency [17][18] Conclusion - The fundraising plan is aligned with national industrial policies and the company's strategic objectives, providing a strong basis for sustainable high-quality development [17][18]

Core Viewpoint - The company plans to issue A-shares to specific investors in 2025, which may dilute immediate returns for existing shareholders, and has outlined measures to mitigate this impact [2][11][14]. Financial Impact Analysis - The company will issue up to 30% of its total shares prior to the issuance, equating to a maximum of 24,525,000 shares based on a total share count of 81,750,000 as of June 30, 2025 [3]. - The projected net profit attributable to shareholders after non-recurring gains and losses is estimated at 63.29 million yuan for 2025, with various scenarios predicting a 10% increase or decrease in net profit for 2026 [4][6]. - The basic earnings per share (EPS) may decrease from 1.86 yuan to 1.73 yuan post-issuance under the scenario where 2026 profits remain stable [6]. Issuance Necessity and Reasonableness - The funds raised will be allocated to projects including agricultural machinery component expansion, garden tool chain systems, and integrated R&D for micro-chain systems, which align with the company's existing business [9][11]. - The agricultural machinery component expansion project is closely related to the company's current product offerings, ensuring a high degree of business relevance [9]. Company Capabilities and Market Position - The company has a strong technical workforce, with 390 technical personnel representing 16.16% of total employees, and has established several innovation platforms to attract talent [10]. - The company has a comprehensive distribution network in domestic markets and is expanding into third- and fourth-tier cities, while also promoting products in international markets including Asia, Latin America, and Africa [10]. Measures to Mitigate Dilution of Immediate Returns - The company will enhance the management of raised funds to ensure they are used effectively for the intended projects, with regular checks on fund usage [11]. - The company aims to strengthen its core business and improve profitability through the projects funded by the issuance, thereby reducing the risk of immediate return dilution [11]. - The company will adhere to strict governance practices to protect shareholder rights and ensure effective decision-making [12].

Group 1 - The core viewpoint of the article is that Zhenghe Industrial has approved a plan to issue shares to specific investors, aiming to raise up to 818 million yuan [3] - The share issuance will involve no more than 24.525 million shares, which is calculated based on the total share capital as of June 30, 2025 [3] - The issuance price will be no less than 80% of the average trading price of the company's shares over the 20 trading days prior to the pricing benchmark [3] Group 2 - As of the first half of 2025, the revenue composition of Zhenghe Industrial is entirely from vehicle chain systems, accounting for 100% [1]

Group 1 - The company Zhenghe Industrial reported a revenue of approximately 905 million yuan for the first half of 2025, representing a year-on-year increase of 7.18% [2] - The net profit attributable to shareholders of the listed company was approximately 89 million yuan, showing a year-on-year increase of 49.13% [2] - The basic earnings per share reached 1.09 yuan, which is a year-on-year increase of 49.32% [2]

Core Viewpoint - Zhenghe Industrial reported a revenue of 905 million yuan for the first half of 2025, marking a year-on-year increase of 7.18%, and a net profit attributable to shareholders of 89.0017 million yuan, up 49.13% year-on-year [2] Group 1: Financial Performance - The company achieved a net profit of 63.2883 million yuan after deducting non-recurring gains and losses, reflecting a year-on-year growth of 14.18% [2] - Basic earnings per share stood at 1.09 yuan [2] Group 2: Business Operations - Zhenghe Industrial focuses on the research, manufacturing, and sales of various chain transmission systems, with three main business segments: automotive engine timing and transmission systems, agricultural machinery transmission and conveying systems, and industrial equipment transmission and conveying systems [2] - The company serves over 3,000 customers globally, with products used in motorcycles, cars, bicycles, ships, agricultural machinery, and construction machinery [2] Group 3: Research and Development - In the first half of 2025, the company increased its R&D investment to 39.2142 million yuan, focusing on high-value new products such as lightweight drive chains for locomotives and specialized saw chains [2][3] - The company has successfully entered high-end customer supply chains through technology upgrades and quality optimization [3] Group 4: Strategic Partnerships and Market Expansion - Zhenghe Industrial collaborated with Japan Design Center (NDC) for a comprehensive upgrade of its CHOHO logo and packaging, and partnered with Honda Racing Corporation (HRC) to sponsor the MX-GP team [3] - The company has made significant strides in overseas expansion, including acquiring a controlling stake in Thailand's DDC chain wheel company and entering the supply chain of Honda in Thailand, laying the groundwork for further market penetration in Southeast Asia and globally [3][4] Group 5: Fundraising and Future Plans - The company plans to raise up to 818 million yuan through a private placement to fund agricultural machinery component expansion, garden tool saw chain systems, and integrated R&D for micro-chain systems [3][4] - The fundraising aims to enhance production capacity and product levels in agricultural machinery, expand market coverage in garden tools, and support the transition to new productive forces in the micro-chain system sector [5]

（文章来源：证券日报） 证券日报网讯 8月21日晚间，征和工业发布公告称，公司第四届监事会第十二次会议审议通过了《关于 公司2025年半年度报告全文及其摘要的议案》等多项议案。 ...

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