Zhong Guo Jing Ji Wang·2025-05-12 03:08Core Viewpoint - Double Ring Technology (000707.SZ) has received approval from the Shenzhen Stock Exchange for its application to issue shares to specific investors, pending final approval from the China Securities Regulatory Commission (CSRC) [1] Group 1: Share Issuance Details - The company plans to issue up to 139,243,729 shares, not exceeding 30% of its total share capital before the issuance, to raise a total of 70,896.00 million yuan [1][2] - The funds raised will be used to acquire 68.59% equity in Hongyi Company [2] Group 2: Acquisition Information - The total assessed value of Hongyi Company's equity is 103,365.89 million yuan, with an appraisal increase of 8,048.30 million yuan, representing an increase rate of 8.44% [2] - The transaction price for the 68.59% equity stake in Hongyi Company is set at 70,896.01 million yuan [2] Group 3: Regulatory and Transaction Structure - The acquisition constitutes a major asset restructuring, contingent upon the CSRC's approval of the share issuance [3] - The issuance will involve up to 35 specific investors, including the controlling shareholder, Double Ring Group, and its indirect controlling shareholder, Changjiang Industrial Group [3] Group 4: Financial Performance of Hongyi Company - Hongyi Company reported revenues of 107,268.55 million yuan and net profits of 15,347.78 million yuan for the fiscal year 2023, with projected revenues of 67,223.98 million yuan and net profits of 4,015.38 million yuan for the first half of 2024 [4] Group 5: Underwriting Information - The sponsor for this issuance is CITIC Securities Co., Ltd., with representatives Ma Xiaolu and Qin Pengyu [5]