Zhong Guo Jing Ji Wang·2025-07-27 08:41Core Viewpoint - The company, QuanFeng Automotive, has received approval from the Shanghai Stock Exchange for its plan to issue A-shares to specific investors, pending final approval from the China Securities Regulatory Commission (CSRC) [1][2] Group 1: Issuance Details - The total amount to be raised from the issuance is not to exceed RMB 200 million, which will be used for replenishing working capital and repaying bank loans [1] - The shares will be issued at a price of RMB 7.82 per share, which is 80% of the average trading price over the previous 20 trading days [2] - The number of shares to be issued to the specific investor, DeRun Holdings, is 25,575,447 shares, not exceeding 30% of the total share capital before the issuance [2] Group 2: Investor and Control Structure - The specific investor for this issuance is DeRun Holdings, controlled by the actual controller of the company, Pan Longquan, who will subscribe to all the shares in cash [2] - The issuance constitutes a related party transaction, and the company will comply with relevant regulations for approval and disclosure [2] - Following the issuance, the controlling shareholder and actual controller of the company will remain unchanged, ensuring compliance with listing conditions [2] Group 3: Regulatory Process - The company must obtain approval from the CSRC before proceeding with the issuance, and the timeline for this approval remains uncertain [1]