天域生物: 2025年度向特定对象发行A股股票方案论证分析报告

Group 1 - The company plans to issue shares to a specific group, aiming to enhance its capital structure and improve financial stability [3][4][26] - The issuance is driven by high debt levels and the need for liquidity, with the company's debt-to-asset ratio reaching 75.91% as of March 31, 2025 [4][5][6] - The actual controller's confidence in the company's future is reflected in the full subscription of the shares by the controlling entity, which is expected to stabilize control and support future growth [3][7][26] Group 2 - The funds raised will be used to supplement working capital and repay debts, which is crucial for the company's operational continuity and financial health [4][21][24] - The issuance will lead to an increase in total shares and net assets, potentially diluting earnings per share in the short term, with projections indicating a basic earnings per share of -0.37 before and after the issuance [16][18][21] - The company has committed to measures to mitigate the impact of dilution on immediate returns, ensuring that shareholder interests are protected [23][25][26] Group 3 - The issuance process adheres to relevant regulations, including the Securities Law and the Management Measures for the Issuance of Securities by Listed Companies [10][11][12] - The pricing of the shares is set at 6.55 yuan per share, which is 80% of the average trading price over the previous 20 trading days [9][10] - The company will ensure that the funds are managed and utilized according to established regulations, enhancing transparency and efficiency in fund usage [24][26]