应从严监管上市公司募资改道补流行为

Group 1 - The company has redirected its fundraising to permanently supplement working capital, with a total of 465 million yuan allocated for this purpose, which accounts for 48.39% of its net fundraising of 961 million yuan for the year [1] - The company's initial fundraising projects have been disappointing, with a main project planned to invest 730 million yuan but not yet producing any output or profit, despite the project being scheduled for completion by the end of 2024 [1] - Investors feel deceived as the company has deviated from its original fundraising plans, leading to dissatisfaction with the decision to redirect funds [1] Group 2 - The practice of redirecting fundraising is common among listed companies, often due to market changes or poorly conceived projects aimed at raising capital without genuine intent [2] - Regulatory bodies need to strengthen oversight of fundraising redirection, particularly when it involves permanent working capital, to prevent companies from exploiting the system for financial gain [2][3] - Companies should prioritize investing original fundraising into suitable new projects, with a cap of 30% for redirecting funds to working capital, and any excess should be used for share buybacks [3]