BGT(SZ:300774) Zheng Quan Zhi Xing·2025-06-23 13:05Core Viewpoint - The company is issuing shares to specific investors, which may dilute immediate returns for existing shareholders, and has outlined measures to mitigate this impact [2][3][5]. Financial Impact Analysis - The issuance will increase the total share capital from 408,763,660 shares to 531,392,758 shares, assuming the maximum number of shares is issued [4]. - Projected net profit for the parent company is expected to grow by 5% compared to 2024, resulting in a diluted earnings per share (EPS) of 0.26 yuan [4]. - The weighted average return on equity is projected to decrease from 9.05% to 8.81% post-issuance [4]. Necessity and Rationality of Fundraising - The total amount to be raised is capped at 100 million yuan, aimed at projects that align with national policies and the company's strategic direction [5]. - Fundraising projects include water supply enhancement in Kashgar and wastewater treatment plant construction, which are directly related to the company's core business [5][9]. Company’s Technical and Market Preparedness - The company has a strong technical team, with 25% of its workforce in R&D, and has accumulated 85 invention patents and 147 utility model patents by the end of 2024 [6][7]. - The company is recognized as a national high-tech enterprise and has established a solid reputation in the water treatment industry [6][8]. Measures to Mitigate Dilution of Immediate Returns - The company plans to enhance the management and utilization of raised funds to improve operational efficiency and investor returns [9][10]. - A commitment to improve corporate governance and internal controls is in place to ensure effective use of funds and risk management [10]. - The company will implement a profit distribution policy that prioritizes reasonable returns for shareholders, especially small and medium investors [10][11]. Commitments from Management - The company's board and senior management have made commitments to ensure that measures to mitigate the dilution of immediate returns are effectively implemented [11][12]. - The controlling shareholders have also pledged to adhere to regulations and not interfere with the company's management [12].