YUEGUI(SZ:000833) Chang Jiang Shang Bao·2025-05-21 23:36Core Viewpoint - The company, Yuegui Co., Ltd. (000833.SZ), is raising up to 900 million yuan through a private placement of A-shares to fund three major projects, including a 100,000 tons/year refined wet phosphoric acid project, marking its first fundraising in ten years [1][2]. Group 1: Fundraising Details - The company plans to issue no more than 156 million shares, with the net proceeds after issuance costs allocated to the 100,000 tons/year refined wet phosphoric acid project, a quartz sandstone mining project, and an automation upgrade for Yunxiu Mining [2][3]. - The refined wet phosphoric acid project will receive 600 million yuan, accounting for 66.67% of the total fundraising amount, and is expected to produce 36,200 tons/year of purified phosphoric acid, among other products [2][3]. Group 2: Strategic Importance - The construction of the phosphoric acid project is closely related to the existing chemical products of Yunxiu Mining, utilizing the chemical energy value of pyrite and leveraging synergies with surrounding titanium dioxide production [3]. - The company aims to extend its industrial chain beyond mining to include deeper processing, addressing the current reliance on mining for profit and enhancing its strategic layout in the new energy materials sector [3][4]. Group 3: Company Performance and Resources - In 2024, the company reported revenues of approximately 2.8 billion yuan, a 16.8% decrease year-on-year, while net profit increased by 320% to 279 million yuan, driven by resource advantages and technological innovation in Yunxiu Mining [5][6]. - The company holds the largest pyrite resource in China, with proven reserves of 208 million tons, representing 85% of the national rich pyrite resources, and an annual production capacity of approximately 3 million tons [4].