CHERVON-AUTO(SH:603982) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-10-28 20:22Core Viewpoint - The company, Nanjing Quanfeng Automotive Precision Technology Co., Ltd., has announced a stock issuance to a specific entity, Panmercy Holdings Limited, controlled by the company's chairman and actual controller, Pan Longquan, resulting in a change in shareholder equity without altering the control structure of the company [2][3][8]. Group 1: Equity Change Details - The company will issue 25,575,447 shares to Panmercy Holdings Limited, which will hold 7.00% of the total shares post-issuance [2][5]. - The issuance complies with the regulations allowing exemption from mandatory tender offers, as approved by the company's shareholders [2][7]. - The controlling shareholder, Quanfeng Precision Technology Co., Ltd., will maintain its status, holding 19.72% of the total shares after the issuance [3][5]. Group 2: Issuance Process - The board meetings and shareholder meetings held in December 2024 and January 2025 approved the stock issuance plan and related proposals [4][35]. - The company received approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission for the stock issuance [5][37]. - The total funds raised from this issuance amount to approximately RMB 200 million, with a net amount of about RMB 195 million after deducting issuance costs [29][30]. Group 3: Future Plans and Restrictions - Panmercy Holdings Limited has committed to a 36-month lock-up period for the newly acquired shares due to the controlling stake being below 50% prior to the issuance [31][38]. - There are no immediate plans for further share increases or decreases by the information disclosure obligors within the next 12 months [24]. Group 4: Upcoming Events - The company will hold a quarterly performance briefing on November 4, 2025, to discuss the third-quarter results and address investor inquiries [10][12].