JINZHOU JIXIANG MOLYBDENUM(SH:603399) Zheng Quan Zhi Xing·2025-05-15 13:44Core Viewpoint - The company is issuing A-shares to specific investors, which may dilute immediate returns for existing shareholders, but aims to enhance its financial structure and support future growth initiatives [1][5][9]. Group 1: Impact of A-Share Issuance - The issuance is expected to dilute the company's earnings per share (EPS) and return on equity (ROE) due to an increase in total share capital [5][9]. - Under three scenarios of net profit growth (0%, 20%, and 40%), the basic and diluted EPS will be affected, with potential declines in immediate returns [2][4][3]. Group 2: Necessity and Rationale for Issuance - The issuance will supplement working capital, supporting technology research and supply chain development amidst a competitive lithium market [5]. - It aims to convey a positive signal to the market, reinforcing the controlling shareholder's commitment to the company's future [6]. - The financial structure will be optimized, alleviating short-term cash flow pressures and enhancing financial stability [6]. Group 3: Measures to Mitigate Dilution Risks - The company will implement strict management of the raised funds to ensure they are used effectively and in accordance with regulations [7]. - Efforts will be made to enhance core competitiveness through improved supply chain management and increased R&D investment [8]. - The governance structure will be strengthened to ensure shareholder rights are protected and to maintain effective oversight [8]. Group 4: Commitments from Stakeholders - The controlling shareholder and management have made commitments to uphold measures that will mitigate the dilution of immediate returns and protect investor interests [10][11].