Core Viewpoint - Shichang Co., Ltd. (920022) has been listed on the Beijing Stock Exchange, focusing on the research, production, and sales of automotive fuel systems, primarily plastic fuel tank assemblies [1][2]. Company Ownership Structure - Before the issuance, Gao Shichang held 48.27% of the company's shares, making him the controlling shareholder. Together with Gao Yongqiang, they held 67.20% of the shares. Their family members and a partnership also hold a combined 9.86% of the shares, allowing them to control 77.06% of the voting rights through a concerted action agreement [2]. - After the issuance, Gao Shichang's shareholding will decrease to 35.19% (before the exercise of the over-allotment option) and 33.82% (after full exercise). Gao Shichang and Gao Yongqiang will hold 48.99% (before) and 47.08% (after) of the shares, while their family members and the partnership will hold 7.19% (before) and 6.91% (after). The combined voting rights controlled will be 56.18% (before) and 53.99% (after) [3]. Fundraising Details - The total amount raised from this issuance is 171.13 million yuan (without considering the over-allotment option) and 196.80 million yuan (if the over-allotment option is fully exercised). The net amount raised is 149.44 million yuan (before) and 172.80 million yuan (if fully exercised). The funds are intended for the second phase of a project to produce 600,000 units of new energy high-pressure fuel tanks and to supplement working capital [4].
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