EIT(SZ:300815) Xin Lang Cai Jing·2025-10-20 10:33Core Viewpoint - Yuhua Tian (玉禾田) has announced the acceptance of its application for issuing convertible bonds by the Shenzhen Stock Exchange, aiming to raise up to 1.5 billion yuan for environmental sanitation projects and working capital [2]. Group 1: Fundraising and Project Details - The total amount to be raised through the issuance of convertible bonds is capped at 1.5 billion yuan, which will be allocated to the sanitation equipment configuration center project and to supplement working capital [2]. - The sanitation equipment configuration center project has a total investment of approximately 1.67 billion yuan, with about 1.15 billion yuan planned to be funded from the raised capital [4]. - The total investment for the working capital is approximately 353.44 million yuan, which will be fully covered by the raised funds [4]. Group 2: Company Background and Shareholding Structure - Yuhua Tian was established in April 2010 with a registered capital of 399 million yuan, focusing on urban operations and property management, particularly in environmental sanitation management [4]. - As of the date of the fundraising prospectus, Tibet Tianzhirun directly holds 191 million shares of Yuhua Tian, accounting for 47.92% of the total share capital, and indirectly controls an additional 3.54% through Shenzhen Xinhongtai, totaling 51.45% [4]. - Zhou Ping and Zhou Mengchen are the actual controllers of Yuhua Tian, with Zhou Ping serving as the chairman [4]. Group 3: Financial Performance - Yuhua Tian's revenue for the years 2022 to 2025 (first half) is reported as follows: 5.394 billion yuan in 2022, 6.161 billion yuan in 2023, 7.203 billion yuan in 2024, and 3.711 billion yuan in the first half of 2025 [5]. - The net profit for the same periods is reported as 557 million yuan in 2022, 583 million yuan in 2023, 671 million yuan in 2024, and 351 million yuan in the first half of 2025 [5].