Genew(SH:688418) Zhong Guo Jing Ji Wang·2025-06-13 02:56Core Viewpoint - The company, Zhenyou Technology, plans to issue A-shares to specific investors, aiming to raise up to 1.069 billion yuan for satellite internet communication and all-optical network system projects [1][2]. Group 1: Stock Issuance Details - The stock issuance will target no more than 35 specific investors, including various financial institutions and qualified investors [1]. - The issuance will be priced at no less than 80% of the average trading price over the last 20 trading days prior to the pricing date [1]. - The total 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 [2]. Group 2: Fund Allocation - The total amount to be raised is capped at 1.069 billion yuan, which will be allocated entirely to the development and industrialization of satellite internet communication products and all-optical network systems [2][3]. - The specific projects include: - Satellite Internet Communication Product R&D and Industrialization: 709 million yuan - All-Optical Network System R&D and Industrialization: 360 million yuan - Total: 1.069 billion yuan [3]. Group 3: Shareholder Structure - The controlling shareholder and actual controller, Wu Minhua, holds 16.70% of the company's shares directly, with an additional 14.99% held through a partnership, totaling 31.68% of voting rights [4]. - Post-issuance, if the maximum number of shares is issued, Wu Minhua's voting rights will decrease to 25.34%, but he will remain the controlling shareholder [4]. Group 4: Previous Issuance Attempt - The company previously attempted to issue A-shares in 2022 but terminated the plan due to changes in the capital market environment and internal circumstances [5]. - The earlier plan aimed to raise 175.3 million yuan for working capital and loan repayment, with the main investor being Wu Minhua [5]. Group 5: Financial Performance - For Q1 2025, the company reported a revenue of 168.49 million yuan, a decrease of 6.36% year-on-year, and a net profit attributable to shareholders of 2.03 million yuan, down 71.00% [7][8]. - The cash flow from operating activities was negative at -45.03 million yuan [8].