SINOGEO(SZ:300191) Zhong Guo Jing Ji Wang·2025-05-12 06:16Core Viewpoint - The company, Qianeng Hengxin, plans to issue A-shares to specific investors to raise a total of up to 676 million yuan, which will be used for the development of the Weizhou 5-3 oilfield project and to supplement working capital [1][2]. Fundraising Details - The total investment for the Weizhou 5-3 oilfield development project is 566.34 million yuan, with 556 million yuan allocated from the raised funds [2]. - The remaining 120 million yuan will be used to supplement working capital [2]. - The issuance will target up to 35 qualified institutional and individual investors, including securities investment fund management companies, securities firms, trust investment companies, financial companies, insurance institutions, qualified foreign institutional investors, and other qualified domestic legal entities and individuals [2][4]. Pricing and Issuance - The pricing benchmark for the share issuance will be set on the first day of the issuance period, with the issuance price not lower than 80% of the average trading price of the company's A-shares over the 20 trading days prior to the pricing benchmark date [3]. - The number of shares issued will be determined by dividing the total raised funds by the issuance price, not exceeding 30% of the company's total share capital before the issuance [3]. Shareholder Structure - After the issuance, the shares subscribed by the investors will be restricted from transfer for six months [4]. - The company's controlling shareholder, Zhou Jinming, holds 131.74 million shares (41.17% of total shares), and together with his associate, Zhou Zilong, they hold 148.81 million shares (46.50% of total shares) before the issuance [4]. - The issuance is structured to ensure that the control of the company remains stable, preventing any changes in control due to the issuance [4]. Financial Performance - In 2024, the company reported a revenue of 486 million yuan, a year-on-year increase of 1.10%, while the net profit attributable to shareholders was -52.81 million yuan, an improvement of 58.80% compared to the previous year [5][6]. - The net cash flow from operating activities was 144 million yuan, a significant increase from -318,130 yuan in the previous year [5][6]. - For the first quarter of 2025, the company achieved a revenue of 115 million yuan, a slight decrease of 0.70% year-on-year, with a net profit of 4.77 million yuan, compared to a loss of 12.30 million yuan in the same period last year [7].