Zheng Quan Zhi Xing·2025-07-11 09:15Summary of Key Points Core Viewpoint - The company, Qingdao Haitai Technology Molding Technology Co., Ltd., is utilizing raised funds to increase capital in its wholly-owned subsidiary, Haitai New Materials, to implement a project for producing 150,000 tons of polymer new materials annually [1][4][12]. Fundraising Overview - The company has received approval from the China Securities Regulatory Commission to issue convertible bonds, raising a net amount of approximately RMB 391.38 million after deducting issuance costs of RMB 5.20 million [1][2]. - The funds were deposited into a special account and are subject to a tripartite supervision agreement with the underwriter and the bank [2][11]. Investment Project Details - The total investment for the project is RMB 503.16 million, with RMB 391.38 million allocated from the raised funds [3]. - Previous capital increases to Haitai New Materials included RMB 90 million for the same project, raising its registered capital from RMB 10 million to RMB 100 million [3][4]. Recent Capital Increase Plans - The company plans to invest an additional RMB 150 million into Haitai New Materials, with RMB 10 million added to registered capital and RMB 140 million to capital reserves [5]. - Haitai New Materials will use a total of RMB 230 million (including previous investments) to further capitalize its subsidiary, Haitai (Anhui) [5]. Subsidiary Information - Haitai New Materials was established in August 2022 with a registered capital of RMB 170 million, focusing on new material technology research and production [8]. - Haitai (Anhui) was established in January 2024 with a registered capital of RMB 70 million, also engaged in similar new material activities [9]. Financial Data - As of 2024, Haitai New Materials reported total assets of RMB 2.15 billion and a net profit of -RMB 394.06 million [7]. - Haitai (Anhui) reported total assets of RMB 768.45 million with a net profit of -RMB 16.59 million for the same period [10]. Impact of Capital Increase - The capital increase is deemed necessary for the successful implementation of the project and aligns with the company's long-term development strategy [6][12]. - The board and supervisory committee have approved the capital increase, confirming it does not alter the investment direction or project content [13][14]. Fund Management - The company has established a special account for managing the raised funds, ensuring compliance with relevant regulations and protecting investor interests [11].