MPCSH(SZ:000637) Zheng Quan Zhi Xing·2025-08-31 08:12Core Viewpoint - The company, Maoming Petrochemical Shihua Co., Ltd., plans to issue A-shares to a specific entity, Maoming Port Group Co., Ltd., to raise funds for working capital, constituting a related party transaction [1][2][6]. Group 1: Transaction Overview - The company intends to issue up to 155,962,606 A-shares, representing no more than 30% of the pre-issue total share capital, at a price of 3.41 yuan per share, aiming to raise a total of no more than 531.83 million yuan [1][2]. - The issuance requires approval from the shareholders' meeting, with related shareholders abstaining from voting [2][3]. - The approval process includes several steps, such as obtaining consent from the Shenzhen Stock Exchange and the China Securities Regulatory Commission [2][3]. Group 2: Related Party Information - Maoming Port Group Co., Ltd. is the controlling shareholder of the company, holding 29.80% of the shares prior to the issuance [18]. - The financial data of Maoming Port for the last year shows total assets of approximately 2,003.49 million yuan and a net profit of 1.89 million yuan [6]. Group 3: Purpose and Impact of the Issuance - The issuance aims to strengthen the controlling stake of Maoming Port in the company, reflecting confidence in the company's future development [18]. - The raised funds will be used entirely for working capital, alleviating financial pressure and enhancing the company's operational flexibility and risk resistance [18][19]. - Post-issuance, the company's asset scale and financial strength are expected to improve, although there may be a short-term dilution of earnings per share due to the increase in total shares [19]. Group 4: Approval Procedures - The company has conducted necessary board meetings and independent director reviews, with all relevant proposals approved unanimously [20]. - The issuance is subject to further regulatory approvals, and the timeline for these approvals remains uncertain [21].