TBEA(SH:600089) Zheng Quan Zhi Xing·2025-08-18 11:25Fundraising Plan - The company plans to issue convertible bonds to raise up to RMB 800 million for the construction of a coal-to-natural gas project in Xinjiang [1][3] - The total investment for the project is RMB 1,703,941.12 million, with the company covering any shortfall in funding [3] Project Overview - The Xinjiang project aims to produce 20.54 billion Nm³ of coal-to-natural gas annually, with 8.4 billion Nm³ converted to liquefied natural gas (LNG) [2][3] - The project will include various production facilities and is expected to take three years to complete [2] Economic Benefits - The project is projected to generate significant economic benefits, including an annual production of 121,428 million Nm³ of synthetic natural gas (SNG) and 58,267.2 million tons of LNG [3][4] - The project is expected to reduce China's dependence on imported natural gas by 1.36 percentage points, enhancing national energy security [5][6] Strategic Importance - The project aligns with national energy strategies and supports the development of coal-to-gas production bases, contributing to the clean and efficient use of coal resources [5][10] - It is positioned as a key initiative to enhance domestic energy supply capabilities and reduce reliance on foreign energy sources [6][10] Technical Feasibility - The project utilizes advanced coal gasification technology and has received necessary approvals from relevant government bodies [10][11] - The company has established a strong technical and management team to ensure successful project execution [11] Financial Impact - The fundraising will enhance the company's asset and business scale, improving cash flow and financial stability [12][13] - The project is expected to boost the company's revenue and profitability, providing good returns for investors [12][13]