LIUSTEELCO(SH:601003) Zheng Quan Zhi Xing·2025-08-07 12:20Core Viewpoint - The company is preparing for a specific stock issuance aimed at raising funds for a high-quality technology upgrade project, while also addressing the potential dilution of immediate returns for existing shareholders [1][6][12]. Financial Impact Analysis - The company estimates that the total funds raised from the issuance will be 300 million yuan, with the number of shares issued not exceeding 30% of the total shares prior to the issuance [1]. - The projected net profit for the first half of 2025 is expected to be between 340 million yuan and 400 million yuan, representing an increase of 530% to 641% compared to the same period last year [2]. - Different scenarios were analyzed regarding the impact of the stock issuance on key financial metrics, including basic and diluted earnings per share [4][5]. Issuance Necessity and Reasonableness - The funds raised will be used for the "2800mm high-quality medium-thick plate technology upgrade project," which aligns with the company's long-term strategic goals and national industrial development direction [6][7]. Relationship with Existing Business - The company operates in the coke, sintering, iron, and steel smelting sectors, with a steel rolling capacity of 20.8 million tons, and the new project will enhance product quality and competitiveness [7][8]. Measures to Mitigate Dilution Risk - The company plans to implement various measures to enhance operational performance and ensure effective use of the raised funds, aiming to minimize the dilution of immediate returns for shareholders [9][11]. Commitments from Major Stakeholders - The controlling shareholder and management have made commitments to ensure the effective execution of the return compensation measures, emphasizing their dedication to protecting shareholder interests [12][13].