云中马: 浙江云中马股份有限公司2025年度向特定对象发行A股股票募集资金使用的可行性分析报告（修订稿）

Group 1 - The company plans to raise a total of 640 million yuan through a private placement of A-shares, with the net proceeds intended for specific projects [1][2] - The main project involves the construction of a production line with an annual capacity of 135,000 tons of DTY yarn and 120,000 tons of high-performance base fabric [2][3] - The project aims to address the current capacity bottleneck and enhance the company's market position by increasing production capabilities [3][4] Group 2 - The demand for synthetic leather is expected to grow significantly, with a projected compound annual growth rate of approximately 5.2% in production and 5.6% in sales from 2025 to 2030 [2][6] - The company has established a strong brand presence in the synthetic leather industry, driven by the growth of downstream markets such as bags, footwear, and automotive [2][6] - The project will enable the company to shift from external procurement of key raw materials to internal production, improving product consistency and reducing costs [5][10] Group 3 - The project is expected to generate stable demand due to government policies promoting consumption upgrades in the furniture and automotive sectors [6][9] - The company has a solid technical foundation with 99 patents, including 9 invention patents, which supports the successful implementation of the project [12][13] - The project aligns with national industrial policies aimed at promoting high-tech and high-value-added transformations in the synthetic leather industry [8][9] Group 4 - The total investment for the project is estimated at 1.047 billion yuan, with 640 million yuan planned to be funded through the raised capital [16] - The project is expected to enhance the company's financial position by increasing total assets and net assets, thereby improving its ability to withstand financial risks [18][19] - The implementation of the project is anticipated to have a positive impact on local employment and tax revenue [19]