YMK(SZ:300249) Zheng Quan Zhi Xing·2025-05-30 12:05Core Viewpoint - The company is issuing A-shares to specific investors, which may dilute immediate returns, and has outlined measures to compensate for this dilution [1][5][6] Financial Impact Analysis - The issuance will increase the total share capital from 44,048.80 million shares to 57,263.44 million shares [3] - Projected net profit for 2024 is estimated at -87.14 million yuan, with three scenarios for 2025's net profit: maintaining the same level, reducing losses by 20%, or increasing losses by 20% [2][4] - Basic and diluted earnings per share (EPS) are projected to decrease under all scenarios, with the worst-case scenario showing a basic EPS of -0.2374 yuan [4][6] Necessity and Reasonableness of the Issuance - The funds raised will be invested in projects that enhance the company's core competitiveness and sustainable development [6][7] - The company has over 20 years of experience in digital infrastructure, providing a comprehensive service ecosystem [7][8] Relationship of Fundraising Projects to Existing Business - The fundraising projects align with the company's existing business and national industrial policies, focusing on upgrading capacity in the data center infrastructure sector [7][8] - The company has a strong talent pool and technical reserves to support the implementation of these projects [8][12] Measures to Mitigate Dilution of Immediate Returns - The company plans to accelerate the implementation of fundraising projects and enhance management of the raised funds to ensure effective use [15][16] - A commitment to improve core business and profitability through technology development and customer relationships is outlined [16][17] - The company will enhance governance structures to protect shareholder rights and ensure compliance with regulations [17][18]