华瓷股份: 华瓷股份2025年度向特定对象发行A股股票方案的论证分析报告（修订稿）

Group 1 - The core purpose of the stock issuance is to support the strategic development of Hunan Hualian Ceramics Co., Ltd. and to respond to the national initiative of building a "China-Vietnam community of shared future" [1][4][5] - The company aims to enhance its production capacity and international competitiveness by establishing a new production base in Vietnam, which will facilitate market expansion in ASEAN and other overseas regions [6][8][9] - The issuance is aligned with the growing demand in the global ceramics market, which is projected to reach a value of $144.49 billion by 2032, with a compound annual growth rate of 6.72% from 2024 [5][6] Group 2 - The company has a significant international presence, with over 200 overseas clients across more than 60 countries, and aims to further penetrate markets in Europe, the Belt and Road Initiative, ASEAN, and South America [5][6][8] - Recent years have seen a strong growth in the company's export revenue, with international sales accounting for 67.20%, 62.84%, and 71.06% of total revenue over the past three years [6][8] - The company plans to utilize the funds raised from the stock issuance to enhance its production capabilities, improve operational efficiency, and meet the increasing customer demand [7][9][10] Group 3 - The stock issuance will involve the issuance of A-shares with a face value of RMB 1.00 per share, targeting specific investors including institutional investors and qualified foreign investors [11][12] - The pricing of the shares will be determined through an inquiry process, ensuring it aligns with market conditions and regulatory requirements [16][17] - The company has committed to using the raised funds strictly for the construction of the new production base, ensuring compliance with relevant regulations and safeguarding shareholder interests [25][28]