Piotech (SH:688072) Zhong Guo Jing Ji Wang·2025-09-15 07:28Core Viewpoint -拓荆科技 is experiencing a significant increase in stock price, currently at 189.79 yuan, up 7.55%, with a total market capitalization of 53.09 billion yuan, although it is still 17% lower than its historical high of 490.00 yuan reached in April 2023 [1] Fundraising and Investment Plans - The company plans to raise up to 460 million yuan through a private placement of A-shares, with the net proceeds intended for the construction of a high-end semiconductor equipment industrialization base, a cutting-edge technology research and development center, and to supplement working capital [1][2] - The total investment for the high-end semiconductor equipment industrialization base is estimated at 176.83 million yuan, with 150 million yuan allocated from the fundraising [2] - The cutting-edge technology research and development center has a total investment of 200.13 million yuan, with the entire amount planned to be funded from the current fundraising [2] - The working capital will receive 110 million yuan from the fundraising, matching its total investment requirement [2] Financial Performance - For the first half of 2023, the company reported revenue of 1.95 billion yuan, a year-on-year increase of 54.25%, while the net profit attributable to shareholders decreased by 26.96% to 94.29 million yuan [3][4] - The net cash flow from operating activities improved significantly to 1.57 billion yuan, compared to a negative cash flow of 900 million yuan in the same period last year [3][4] - The company’s net profit excluding non-recurring gains and losses increased by 91.35% year-on-year, reaching 38.19 million yuan [4]