CLICK(SZ:002782) Zheng Quan Zhi Xing·2025-06-12 10:23Core Viewpoint - The company plans to terminate several fundraising projects and redirect the remaining funds to establish a production base in Vietnam, aiming to enhance operational efficiency and meet increasing market demands [1][10][18]. Fundraising Overview - In 2020, the company raised approximately RMB 489.31 million through a non-public offering, with a net amount of RMB 480.06 million after deducting issuance costs [1]. - The total investment planned for the projects funded by this offering was RMB 54.58 million, with RMB 48.93 million allocated from the raised funds [3][6]. Project Termination and Fund Reallocation - The company has decided to terminate the "Automotive Electronic R&D Center Construction Project," "Huizhou Charging Pile Magnetic Component Intelligent Manufacturing Project," and "Anhui Photovoltaic Energy Storage Magnetic Component Intelligent Manufacturing Project," reallocating the unused funds of RMB 173.91 million to the Vietnam production base project [1][10][18]. - The decision to terminate these projects was based on improved operational efficiency and the current market environment [10][18]. New Project Justification - The establishment of the Vietnam production base is driven by the need to meet the increasing demand from overseas clients and to mitigate risks associated with geopolitical changes [10][11]. - The project is expected to leverage Vietnam's geographical advantages, labor resources, and favorable business environment to enhance the company's competitiveness and operational efficiency [11][17]. Financial Impact and Feasibility - The total investment for the new project in Vietnam is estimated at RMB 120.74 million, with the company planning to cover any shortfall with its own funds [11]. - The project is deemed feasible due to the company's extensive experience in production and management, as well as the supportive policies from the Vietnamese government [14][16]. Market Context - The global power supply market is projected to grow, with sales expected to reach USD 30.81 billion in 2024 and USD 42.21 billion by 2031, indicating a compound annual growth rate (CAGR) of 4.7% from 2025 to 2031 [15]. - The company aims to capitalize on this growth by expanding its production capacity in response to increasing market demands [12][15].