YAWEI(SZ:002559) Zheng Quan Zhi Xing·2025-08-01 16:35Core Viewpoint - Jiangsu Yawey Machine Tool Co., Ltd. is in the process of issuing shares to specific investors, with a total fundraising amount not exceeding 924.5749 million yuan, which will result in the Yancheng Industrial Development Group becoming the controlling shareholder of the company [2][3]. Fundraising and Project Details - The company plans to raise 303.66 million yuan for the second phase of the servo press and automated stamping line project, and 620.9149 million yuan will be used to supplement working capital and repay bank loans [3][4]. - The first phase of the project began construction in 2023 and is currently in trial production, with a designed capacity of 2,000 servo presses and 100 automated stamping lines per year [3][4]. Regulatory Approvals and Risks - The company has received preliminary approval from the State-owned Assets Supervision and Administration Commission for the share issuance, but still needs to obtain various regulatory approvals, including land use rights and construction permits [6][9]. - The company has indicated that there are no significant legal obstacles to obtaining the necessary land use rights for the project, and alternative land options will be coordinated if needed [8][9]. Financial Position of the Investor - Yancheng Industrial Development Group will fund 40% of the subscription with its own funds and 60% through acquisition loans, with a total fundraising amount of 924.5749 million yuan [9][12]. - The financial data of Yancheng Industrial Development Group shows total assets of approximately 528.89 million yuan and net assets of approximately 402.27 million yuan as of June 30, 2025 [11][12]. Market Trends and Opportunities - The servo press market is expected to grow significantly, driven by the increasing demand for high-precision manufacturing in sectors such as new energy vehicles and rail transportation [18][20]. - The penetration rate of servo presses in China is currently below 20%, indicating substantial room for growth as domestic manufacturers seek to replace imported brands [18][19]. Product Development and Production Capacity - The second phase of the project will produce key components for the servo presses, which are essential for the first phase's production of complete machines [16][17]. - The company has established production capabilities and technical reserves necessary for the new project, ensuring alignment with its main business focus [17].