Zhong Guo Jing Ji Wang·2025-06-09 02:50Core Viewpoint - Huaguang New Materials (688379.SH) plans to issue shares to specific investors through a simplified procedure, with a total fundraising amount not exceeding 199 million yuan, aimed at funding the second phase of its production base project in Thailand [1][2]. Group 1: Share Issuance Details - The share issuance will target no more than 35 specific investors, including qualified institutional investors and other eligible entities as per the China Securities Regulatory Commission (CSRC) regulations [1]. - The pricing for the shares will be based on the average trading price over the 20 trading days prior to the issuance date, set at no less than 80% of this average [1]. - The total number of shares to be issued will not exceed 30% of the total share capital prior to the issuance, amounting to a maximum of 27,025,656 shares [1]. Group 2: Fund Utilization - The total investment for the second phase of the Thailand Huaguang welding materials production project is 249.3 million yuan, with the raised funds of 199 million yuan allocated entirely to this project [2][3]. Group 3: Shareholder Structure - As of the announcement date, the controlling shareholder Jin Limei holds 36.54% of the shares directly and controls an additional 10.38% through investment companies, totaling 46.92% [2][4]. - The share issuance will not change the control of the company, and the share distribution will remain compliant with listing requirements [2][4]. Group 4: Financial Performance - For Q1 2025, the company reported a revenue of 586 million yuan, a year-on-year increase of 62.58%, and a net profit attributable to shareholders of 95.44 million yuan, up 1140.90% [4][5]. - The net profit after excluding non-recurring gains and losses was 18.81 million yuan, reflecting a 176.83% increase compared to the previous year [4][5]. - The company has faced negative cash flow from operating activities for several years, with a net cash flow of -87.82 million yuan in the latest quarter [4][5].