Huaguang Welding(SH:688379) Zheng Quan Zhi Xing·2025-04-02 14:14Core Viewpoint - The company seeks shareholder approval to authorize the board to issue shares through a simplified process to specific investors, with a total financing amount not exceeding RMB 300 million, which is capped at 20% of the net assets as of the end of the previous year [1][5]. Summary by Sections Authorization Overview - The board proposes to the shareholders to authorize the board to issue shares through a simplified process, with a total financing amount not exceeding RMB 300 million and not exceeding 20% of the net assets as of the end of the previous year [1]. Specifics of the Authorization - The shares to be issued are domestic listed ordinary shares (A shares) with a par value of RMB 1.00 each [2]. - The issuance will be a non-public offering to no more than 35 specific investors, including legal entities and individuals, with cash subscriptions only [2]. - The pricing will be based on the average trading price over the 20 trading days prior to the pricing date, adjusted for any corporate actions [3]. Issuance Details - The issuance will commence after shareholder approval and will be executed at an appropriate time determined by the board [4]. - The funds raised will be used for projects related to the company's main business [4]. - There will be a lock-up period of six months for the newly issued shares, with specific conditions for certain investors extending to eighteen months [4]. Decision-Making Process - The board has already approved the proposal during its meeting on April 2, 2025, and will submit it for shareholder approval at the 2024 annual general meeting [5].