Create Century(SZ:300083) Zheng Quan Zhi Xing·2025-08-29 14:19Core Viewpoint - Guangdong Create Century Intelligent Equipment Group Co., Ltd. plans to issue A-shares to specific investors in 2025, aiming to raise funds for working capital and bank loan repayment, while ensuring that the control of the company remains unchanged [1][2]. Company Overview - The company is located in Dongguan, Guangdong Province, and specializes in the manufacturing of CNC machine tools, which are essential for high-precision and automated production processes [1][12]. - As of June 30, 2025, the company's total share capital is 1,664,862,589 shares, with a significant portion held by the controlling shareholder, Xia Jun, who owns 13.64% directly and 15.10% in total with concerted actions [11][12]. Financial Information - The share price for the upcoming issuance is set at 5.45 yuan per share, which is 80% of the average trading price over the previous 20 trading days [1]. - The company has committed to using the raised funds to supplement working capital and repay bank loans, with a minimum subscription commitment from the controlling shareholder of 300 million yuan [1][2]. Industry Context - The CNC machine tool industry is characterized by its capital and technology intensity, with significant barriers to entry due to the need for advanced technical expertise and substantial investment [17][18]. - The industry has seen fluctuations in demand, influenced by macroeconomic conditions and international trade dynamics, with a notable decline in 2023 but a projected recovery in 2024 due to supportive policies [16][17]. Market Dynamics - The CNC machine tool market is expected to benefit from the growth in downstream sectors such as consumer electronics, new energy vehicles, and aerospace, which are driving demand for high-quality manufacturing equipment [17][18]. - The company faces competition from both domestic and international players, with established brands like FANUC and Mitsubishi holding significant market shares in high-end machine tools [3][4]. Risk Factors - The company is exposed to risks related to macroeconomic fluctuations, international trade tensions, and competition within the CNC machine tool sector, which could impact its operational performance and financial stability [2][3][4]. - Specific risks include potential declines in demand from key customers in the consumer electronics sector and challenges in maintaining profit margins amid rising competition and cost pressures [4][5][6].