CNANO(SH:688116) Zheng Quan Zhi Xing·2025-05-15 11:14Summary of Key Points Core Viewpoint The announcement details the results of Jiangsu Tiannai Technology Co., Ltd.'s issuance of A-shares to specific investors, including the number of shares issued, the pricing, and the implications for the company's capital structure. Group 1: Issuance Details - The company issued 21,674,342 new shares, which have been registered and will be listed on the Shanghai Stock Exchange after a six-month lock-up period [1][2][3] - The shares were issued at a price of 36.91 RMB per share, based on the average trading price of the previous 20 trading days [5][6] - The total amount raised from this issuance is approximately 800 million RMB, with a net amount of about 787 million RMB after deducting issuance costs [6][7] Group 2: Impact on Capital Structure - The new shares represent 5.92% of the total share capital post-issuance, which will increase the total share capital to 366,415,836 shares [2][18] - The issuance will not change the control of the company, and the distribution of shares complies with the listing rules of the Shanghai Stock Exchange [2][19] - The funds raised will primarily be used for the production of high-efficiency single-wall conductive materials for lithium batteries and to supplement working capital [3][6] Group 3: Compliance and Regulatory Aspects - The issuance process adhered to all relevant laws and regulations, ensuring fairness and compliance throughout [7][9] - The independent sponsor, CITIC Securities, confirmed the compliance of the issuance process and the selection of investors [7][8] - Legal opinions affirm that all necessary authorizations and approvals were obtained for the issuance [9][20] Group 4: Investor Participation - A total of 21 investors participated in the issuance, with the largest single subscription being 2,709,292 shares [10][11] - The investors include various private equity and asset management firms, indicating strong interest from institutional investors [10][12] Group 5: Future Implications - The issuance is expected to enhance the company's financial strength and debt repayment capacity, optimizing its capital structure [19] - The funds will support the company's strategic initiatives and growth in the lithium battery materials sector, aligning with national industrial policies [19][20]