Zhong Guo Jing Ji Wang·2025-09-04 02:54Core Viewpoint - The refinancing project of He Yuan Gas has been approved by the Shenzhen Stock Exchange, allowing the company to raise up to RMB 591.99 million for working capital and debt repayment [1][3]. Summary by Sections Fundraising Details - The total amount to be raised is RMB 59,198.93 million, which will be used entirely for supplementing working capital and repaying interest-bearing debts after deducting related issuance costs [3]. - The issuance will be directed towards specific investors, namely Hubei Jushi Investment Development Co., Ltd. and Yang Tao, both of whom are associated with the company's actual controller [3][5]. - The shares will be issued as domestic listed ordinary shares (A-shares) with a par value of RMB 1.00 per share, priced at RMB 14.98 per share, which is not less than 80% of the average trading price over the previous 20 trading days [3][5]. Subscription Breakdown - The total number of shares to be issued is capped at 40,053,403 shares, which does not exceed 30% of the company's total share capital prior to the issuance [3][5]. - Hubei Jushi will subscribe to 26,702,269 shares, while Yang Tao will subscribe to 13,351,134 shares, totaling 40,053,403 shares and RMB 59,198.93 million [4]. Shareholding Structure Post-Issuance - After the issuance, the total share capital of the company will increase to 251,288,403 shares, with the controlling shareholders maintaining their status as they will hold 43.35% of the shares post-issuance [5]. - The shares subscribed by the specific investors will be locked for 36 months post-issuance [4][5]. Sponsorship - The sponsor for this issuance is Huayin Securities Co., Ltd., with representatives Han Zhiqiang and Li Lu overseeing the process [5].