Gosuncn(SZ:300098) Zheng Quan Zhi Xing·2025-07-09 11:12Core Viewpoint - The company plans to issue A-shares to specific investors in 2025, aiming to enhance its capital structure and support its growth in the automotive communication domain, particularly in smart manufacturing and autonomous driving technologies [14][15][18]. Group 1: Issuance Details - The total amount to be raised from the issuance is capped at RMB 373.72 million, which will not exceed 30% of the company's total share capital prior to the issuance, equating to a maximum of 521,154,996 shares [5][23]. - The issuance will be conducted through a cash subscription at a price not lower than 80% of the average stock price over the 20 trading days preceding the pricing date [3][21]. - The final issuance price and number of shares will be determined after approval from the shareholders' meeting and regulatory bodies [2][4]. Group 2: Purpose of Fundraising - The funds raised will primarily be used to establish a fully autonomous and controllable smart manufacturing system, enhancing the company's production capacity for automotive communication products [14][18]. - The company aims to reduce reliance on external production and improve production efficiency and product quality through automation and supply chain optimization [15][17]. - Additional funds will be allocated to R&D, ensuring the company can meet the increasing demands for advanced automotive communication technologies [18][19]. Group 3: Market Context - The automotive industry is undergoing significant transformation, with trends towards electrification, intelligence, connectivity, and sharing, driven by advancements in AI and communication technologies [14][15]. - The penetration rate of connected vehicle features in new cars has exceeded 80%, indicating a growing market for automotive communication solutions [16]. - The domestic automotive supply chain is increasingly focusing on localization and innovation, with significant growth in revenue from new energy and intelligent components [15][16]. Group 4: Shareholder Structure and Control - The issuance will not alter the company's control structure, as the actual controller's shareholding will remain above the threshold required for control [27][28]. - The issuance is designed to protect the company's control rights, limiting any single investor's shareholding post-issuance to a maximum of 5% of the total share capital [27][28]. - The company will ensure that the distribution of shares post-issuance remains compliant with listing requirements [24][28].