Zhong Guo Jing Ji Wang·2025-10-29 03:08Core Viewpoint - Honghe Technology's (603256.SH) private placement has been approved by the Shanghai Stock Exchange, aiming to raise a total of 994.6064 million yuan for various projects and working capital [1][4]. Fundraising Details - The total investment for the projects is 1.092 billion yuan, with 992.6064 million yuan allocated for specific uses, including: - 632.6305 million yuan for the construction of a high-performance glass fiber yarn production line - 81.9759 million yuan for the establishment of a high-performance special glass fiber research and development center - 280 million yuan for supplementing working capital and repaying loans [2][4]. Issuance Methodology - The issuance will adopt a competitive bidding method, with the issuance price set at no less than 80% of the average trading price of the company's shares over the 20 trading days prior to the pricing date [2]. Shareholder Structure - The number of shares issued will not exceed 263,918,250, which is within 30% of the company's total share capital before the issuance. The final number of shares will be determined by the board of directors based on specific circumstances and in consultation with the lead underwriter [2][3]. Target Investors - The issuance targets no more than 35 specific investors, including various financial institutions and qualified investors. The relationship between the company and the investors will be disclosed after the issuance [3][4]. Control and Management - After the issuance, Far East International Co., Ltd. will remain the controlling shareholder, holding 74.84% of the shares. The actual controllers are Wang Wenyang and his daughter Grace Tsu Han Wong [4][5]. Underwriting Information - The lead underwriter for this issuance is CITIC Securities Co., Ltd., with representatives Chen Jingwen and Liu Mengjia overseeing the process [5].