MCST(SZ:300355) Zheng Quan Zhi Xing·2025-06-11 12:38Core Viewpoint - The company has approved a plan to issue A-shares to specific investors, aiming to raise up to RMB 149,500 million for various projects, subject to shareholder approval and regulatory compliance [1][2][3]. Group 1: Meeting Details - The fifth supervisory board meeting was held on June 11, 2025, with all three supervisors present, confirming compliance with relevant laws and regulations [1]. - The meeting passed several resolutions, including the approval of the company's eligibility to issue A-shares to specific investors [2]. Group 2: Issuance Plan - The company plans to issue domestic A-shares with a par value of RMB 1.00 each, targeting no more than 35 specific investors, including various financial institutions [2][3]. - The issuance will occur after obtaining approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission [3]. Group 3: Fundraising and Use of Proceeds - The total amount to be raised is capped at RMB 149,500 million, which will be allocated to specific projects with a total investment of RMB 200,393.79 million [6]. - If the actual net amount raised is less than the funding needs, the board may adjust the allocation of funds while maintaining the project's integrity [6]. Group 4: Shareholder and Regulatory Compliance - The shares subscribed by the investors will be subject to a six-month lock-up period post-issuance [6]. - The company will establish a special account for managing the raised funds, ensuring compliance with relevant regulations [11]. Group 5: Future Plans and Commitments - The company has prepared a three-year shareholder return plan to enhance transparency and encourage long-term investment [10]. - The board has committed to measures to mitigate the dilution of immediate returns for existing shareholders due to the new issuance [9].