Kehua Holdings(SH:603161) Zheng Quan Zhi Xing·2025-08-22 15:16Core Viewpoint - The announcement discusses the impact of issuing A-shares to specific investors on the company's immediate returns and outlines measures to mitigate the dilution effect on shareholders [1][4]. Financial Impact of the Issuance - The total number of shares before the issuance is 19,440,770, and after the issuance, it will increase to 22,440,770 [2][4]. - The total amount raised from the issuance is estimated at 326.1 million yuan [2]. - Under three scenarios for 2025 net profit (flat, 20% increase, and 20% decrease compared to 2024), the basic and diluted earnings per share (EPS) are projected to decrease from 0.55 yuan to 0.52 yuan in the flat scenario [3][4]. Necessity and Rationality of the Issuance - The issuance aligns with industry trends and the company's future development plans, enhancing financial strength and profitability [5]. - It aims to optimize the capital structure and strengthen the company's position in the industry [5]. Relationship of Fundraising Projects to Existing Business - The funds raised will be used to supplement working capital without changing the company's main business [6]. - This will improve asset scale and operational capacity while reducing the debt ratio [6]. Measures to Mitigate Dilution of Immediate Returns - The company will implement strict management of the raised funds to ensure they are used legally and effectively [7]. - It will enhance operational management and internal controls to improve efficiency and profitability [7]. - A stable profit distribution policy will be established to strengthen investor return mechanisms [7]. Commitments from Major Stakeholders - The controlling shareholders and management have committed to not interfere with company operations and to uphold shareholder interests [8][9]. - They will ensure compliance with regulations regarding return measures and are willing to compensate for any losses incurred due to breaches of these commitments [9][10].