Core Viewpoint - Jiangxi Baitong Energy Co., Ltd. has convened its fourth board meeting to approve the proposal for a private placement of shares to specific investors, specifically its controlling shareholder, Nanchang Baitong Environmental Technology Co., Ltd. [1][2] Group 1: Board Meeting Details - The board meeting was held on June 10, 2025, with all five directors present, including one participating via telecommunication [1] - The meeting complied with relevant laws and regulations, including the Company Law and Securities Law of the People's Republic of China [1] Group 2: Approval of Stock Issuance - The board approved the proposal for the company to issue shares to specific investors, confirming that it meets the necessary legal conditions for such an issuance [2][6] - The proposal will be submitted to the shareholders' meeting for approval, requiring a two-thirds majority of the voting rights present [2][6] Group 3: Issuance Plan Details - The type of shares to be issued is domestic listed ordinary shares (A shares) with a par value of RMB 1 [2] - The issuance will occur after approval from the shareholders' meeting and regulatory bodies, with the timing to be determined later [2][3] - The shares will be offered to the controlling shareholder, Nanchang Baitong Environmental Technology Co., Ltd., which intends to subscribe to all shares issued for cash [3][4] Group 4: Pricing and Quantity - The pricing benchmark date is set as the date of the board meeting resolution announcement, with the issue price based on the average trading price over the previous 20 trading days [3][4] - The maximum number of shares to be issued is capped at 39,100,000, not exceeding 30% of the total shares before issuance [4][5] - The shares subscribed by the controlling shareholder will be subject to an 18-month lock-up period post-issuance [5] Group 5: Fundraising and Usage - The total amount to be raised from the issuance is capped at RMB 385,135,000, which will be used to supplement working capital and repay loans [5][6] - The proposal includes a plan for the distribution of retained earnings among new and existing shareholders post-issuance [5][6] Group 6: Future Plans and Authorizations - The board proposed a three-year shareholder return plan for 2025-2027 to enhance the profit distribution policy [12] - The board seeks authorization from the shareholders' meeting to handle all matters related to the stock issuance, including adjustments based on regulatory requirements [14][15]
百通能源: 第四届董事会第五次会议决议公告