MPCSH(SZ:000637) Zheng Quan Zhi Xing·2025-08-31 08:12Core Viewpoint - The company plans to issue up to 155,962,606 A-shares to raise no more than 531.8324 million yuan to supplement working capital, aiming to enhance its capital strength and profitability [1][2][3]. Group 1: Background and Purpose of the Issuance - The issuance is a response to the company's transition to a state-controlled enterprise and aims to address the challenges posed by a slowing global economy and a difficult chemical market [1][2]. - The funds raised will improve the company's asset-liability structure and support its development strategy, ensuring sustainable growth [2][3]. Group 2: Necessity of the Issuance - The issuance of A-shares is deemed necessary to alleviate liquidity pressure and support core business growth, enhancing the company's risk resistance and core competitiveness [3][5]. - Compared to debt financing, equity financing is more favorable for optimizing the capital structure and reducing financial risks [5]. Group 3: Selection of Issuance Objects - The issuance is directed solely at the controlling shareholder, Maoming Port, which aligns with regulatory requirements [6]. - The selection of a single entity as the issuance object is appropriate and complies with relevant regulations [6]. Group 4: Pricing Principles and Methods - The issuance price is set at 3.41 yuan per share, which is not lower than 80% of the average stock price over the previous 20 trading days [7][8]. - The pricing method and procedures have been conducted in accordance with regulatory requirements [8]. Group 5: Feasibility of the Issuance - The issuance complies with the Securities Law and relevant regulations, ensuring that it is conducted legally and feasibly [8][9]. - The company has followed necessary procedures for disclosure and approval, ensuring transparency and compliance [15][16]. Group 6: Fairness and Reasonableness of the Issuance Plan - The issuance plan has been approved by the board and is designed to benefit all shareholders without harming their interests [15][16]. - The plan will be subject to a fair vote by shareholders, ensuring that all voices are heard [16]. Group 7: Impact on Immediate Returns and Mitigation Measures - The company has conducted a thorough analysis of the impact on immediate returns and has proposed specific measures to mitigate any potential dilution of shareholder value [17].