Zheng Quan Zhi Xing·2025-07-24 16:33Core Viewpoint - The report outlines the strategic placement of investors in the initial public offering (IPO) of Yangzhou Tianfulong Group Co., Ltd., detailing the number of shares, participants, and compliance with regulations [1][2][20]. Group 1: Strategic Placement Overview - The company plans to issue 40.01 million shares, representing 10% of the total share capital post-issuance [1][4]. - The initial strategic placement involves 4.001 million shares, also accounting for 10% of the total issuance [1][4]. - The final number of shares for strategic placement will be adjusted based on the established mechanism [1]. Group 2: Participants in Strategic Placement - Participants in the strategic placement include senior management and core employees through a dedicated asset management plan [2][7]. - Only one investor is involved in the strategic placement, which complies with the requirement of not exceeding ten participants [4][7]. - The lock-up period for shares acquired through strategic placement is set at 12 months from the date of listing [4][20]. Group 3: Compliance and Regulations - The selection criteria for strategic placement participants align with the regulations, ensuring that the number of shares allocated does not exceed 20% of the total issuance [5][20]. - The asset management plan is registered and meets the qualifications for participation in the strategic placement [8][9]. - Legal opinions confirm that the strategic placement adheres to all relevant laws and regulations, with no prohibited circumstances present [20].