Genew(SH:688418) Zheng Quan Zhi Xing·2025-06-12 12:53Core Viewpoint - The company, Shenzhen Genew Technologies Co., Ltd., plans to issue shares to specific investors to raise funds for satellite internet communication product research and development, as well as for all-optical network system research and development, aiming to enhance its competitive edge in the telecommunications industry [9][14][26]. Summary by Sections Company Overview - Shenzhen Genew Technologies Co., Ltd. was established on April 4, 2005, and became a joint-stock company on September 29, 2015, with a registered capital of 192.5546 million yuan [8]. Background and Purpose of the Issuance - The satellite internet aims to fill the communication service gaps in remote areas, with approximately 80% of land and 95% of ocean areas lacking ground mobile network coverage [9][10]. - The development of satellite internet communication is strategically significant for national network sovereignty and security, becoming a new high ground in information technology competition [10][11]. - The company intends to leverage its core network advantages and focus on satellite internet business to enhance its global communication and digital market presence [14][23]. Fundraising and Investment Projects - The total amount to be raised from the issuance is capped at 1.069 billion yuan, with the net proceeds intended for specific projects, including satellite internet communication product R&D and all-optical network system R&D [18][22]. - The satellite internet communication product R&D project has a total investment of 709 million yuan, focusing on ground core network systems, satellite core networks, and satellite intelligent terminal devices [22][23]. - The all-optical network system project aims to develop AI-driven 50G PON systems and 400G/800G OTN optical transmission systems to improve bandwidth utilization and fault recovery efficiency [15][22]. Issuance Details - The issuance will be conducted through a competitive bidding process, with the final issuance price not lower than 80% of the average trading price of the company's A-shares over the 20 trading days prior to the pricing date [17][18]. - The maximum number of shares to be issued will not exceed 25% of the company's total share capital before the issuance, amounting to a maximum of 48,138,658 shares [18][19]. Market and Policy Context - The satellite internet communication industry is supported by national policies, with significant emphasis on building information network infrastructure and promoting satellite internet development as part of the "14th Five-Year Plan" [11][26][27]. - The company aims to expand its overseas communication market, particularly in regions along the "Belt and Road" initiative, by providing satellite internet services tailored to different economic contexts [24][25].