SHENNONG SEED(SZ:300189) Zheng Quan Zhi Xing·2025-06-10 11:37Core Viewpoint - Hainan Shennong Seed Industry Technology Co., Ltd. plans to issue shares through a simplified procedure to specific investors, aiming to raise no more than RMB 300 million, which does not exceed 20% of the net assets as of the end of the previous year [1][2]. Group 1: Issuance Details - The company will issue domestic listed ordinary shares (A shares) with a par value of RMB 1.00 per share [2]. - The issuance will be completed within ten working days after the China Securities Regulatory Commission (CSRC) approves the registration [2]. - The issuance targets up to 35 specific investors, including qualified institutional investors such as securities investment fund management companies, securities companies, trust companies, and qualified foreign institutional investors [3]. Group 2: Pricing and Quantity - The pricing benchmark date will be the first day of the issuance period, with the issuance price set at no less than 80% of the average trading price over the previous 20 trading days [4]. - The maximum number of shares to be issued is 50 million, corresponding to a total fundraising amount not exceeding RMB 300 million [5]. - The final issuance price will be determined through a bidding process, and the issuance will be subject to adjustments based on any corporate actions such as dividends or stock splits [4][5]. Group 3: Fund Utilization - The total amount raised will be used for projects including the "Rapeseed 'Good Seed + Good Method' Demonstration Promotion Project" and to supplement working capital [7][10]. - The total investment for the rapeseed project is RMB 147.81 million, with RMB 104 million expected to be funded from the issuance [7]. - If the actual net amount raised is less than the planned investment, the company will adjust the investment priorities based on the actual funds available [10]. Group 4: Shareholder Returns and Future Plans - The company has developed a three-year dividend return plan for shareholders from 2025 to 2027 to enhance transparency and operational efficiency in profit distribution [11]. - The company will ensure that the new and old shareholders share the undistributed profits proportionately after the issuance [6][10]. - The resolution for the issuance is valid until the next annual general meeting, and any changes in regulations will be adhered to [10].