YINGLIU(SH:603308) Zheng Quan Shi Bao Wang·2024-10-30 00:57Core Viewpoint - The company plans to issue convertible bonds to raise up to 1.5 billion yuan, which will be used for various projects including blade casing processing coating, advanced nuclear materials, and working capital replenishment, aiming to enhance profitability and competitiveness [1][2]. Group 1: Investment Projects - The blade casing processing coating project will be implemented by the company's wholly-owned subsidiary, with a total investment of 1.15 billion yuan, utilizing 550 million yuan from the raised funds [1]. - The advanced nuclear materials and key components intelligent upgrade project will involve a total investment of 640 million yuan, with 500 million yuan from the raised funds, aimed at enhancing production capacity for various nuclear materials [3]. - The company aims to improve product quality and meet high-temperature standards through advanced processing and coating techniques for high-temperature alloy castings [1][2]. Group 2: Market Position and Client Relationships - The company has established strong relationships with core clients in the aerospace engine and gas turbine sectors, including General Electric, Siemens, and China National Nuclear Corporation, which enhances its market position [2][3]. - The company’s products have high entry barriers and long certification times, leading to stable long-term partnerships once it becomes a qualified supplier [2]. Group 3: Financial Strategy - The company plans to use 450 million yuan of the raised funds to replenish working capital and repay bank loans, which will alleviate debt pressure and optimize the asset-liability structure [4][5]. - The gradual conversion of convertible bonds is expected to reduce financial costs and enhance profitability [5].