Bauing Decoration(SZ:002047) Zhong Guo Jing Ji Wang·2025-10-27 07:11Core Viewpoint - *ST Baoying (002047.SZ) resumed trading with a limit-up of 4.98%, closing at 2.53 yuan, following the announcement of a plan to issue A-shares to specific investors to raise up to 800 million yuan for working capital and debt repayment [1][4]. Group 1: Stock Issuance Details - The company plans to issue A-shares with a par value of 1.00 yuan each, targeting specific investors, and will proceed after approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission [2][4]. - The issuance price is set at 1.89 yuan per share, which is 80% of the average trading price over the 20 trading days prior to the pricing date [2][3]. - The total number of shares to be issued will not exceed 423,280,423 shares, representing less than 30% of the company's total shares before the issuance [3]. Group 2: Shareholder Changes - The specific investor for this issuance is Hainan Shitong Niu Investment Co., Ltd., which was established to acquire shares in Baoying and will become a shareholder following the issuance [2][3]. - Following the share transfer agreement, the controlling shareholder will change from Zhuhai State-owned Assets Supervision and Administration Commission to Fu Xiaoqing and Fu Xiangde [3][4]. - Dahanqin Group will transfer 5.01% of its shares (75,964,060 shares) to Shitong Niu, and both Dahanqin Group and Dahanqin Hong Kong will waive their voting rights on these shares [3][4]. Group 3: Regulatory Compliance - The share transfer and issuance are subject to approval from relevant state-owned asset supervision authorities and must comply with regulatory requirements [4][5]. - The company will continue to advance related work and fulfill information disclosure obligations in accordance with legal regulations after the stock resumes trading [5].