LOPAL(SH:603906) Zhong Guo Jing Ji Wang·2025-08-21 08:05Core Viewpoint - Longpan Technology (龙蟠科技) plans to issue A-shares to specific investors, raising up to RMB 200 million for high-performance phosphate cathode material projects and working capital [1][2]. Fundraising Details - The total investment for the 11,000-ton high-performance phosphate cathode material project is RMB 100 million, with RMB 80 million from the fundraising [2]. - The 8,500-ton high-performance phosphate cathode material project has a total investment of RMB 79 million, with RMB 60 million from the fundraising [2]. - The working capital will receive RMB 60 million from the fundraising, with a total project investment of RMB 60 million [2]. - The total investment for all projects is RMB 239 million, with the fundraising amount capped at RMB 200 million [2]. Issuance Structure - The shares will be domestic listed RMB ordinary shares (A-shares) with a par value of RMB 1.00 each [3]. - The issuance will be conducted through a competitive bidding process, with the issue price set at no less than 80% of the average trading price over the previous 20 trading days [3]. - The number of shares issued will not exceed 205,523,670, which is 30% of the total share capital before the issuance [3]. Shareholder Structure - The actual controllers of the company are Shi Junfeng and Zhu Xianglan, holding a combined 34.77% of the shares before the issuance [4]. - Post-issuance, their combined holding will decrease to 26.74%, indicating no change in control [4]. Financial Performance - For the first half of 2025, the company reported revenue of RMB 3.622 billion, a year-on-year increase of 1.49% [5]. - The net profit attributable to shareholders was a loss of RMB 85.15 million, an improvement from a loss of RMB 222.31 million in the same period last year [5]. - The net cash flow from operating activities was RMB 6.07 million [5]. Historical Financial Data - The company has reported consecutive net losses for 2023 and 2024, with net profits of -RMB 1.233 billion and -RMB 635.7 million, respectively [6]. - The total revenue has shown a declining trend, with a significant drop of 12.10% year-on-year for 2024 [6].