GLAVI(SZ:300900) Zhong Guo Jing Ji Wang·2025-10-31 06:21Core Viewpoint - Guanglian Aviation's plan for a specific stock issuance has expired, as the resolution's validity period has lapsed without execution [1] Group 1: Stock Issuance Plan - Guanglian Aviation announced a plan to issue shares to specific investors, which was approved in meetings held on October 11 and October 30, 2024 [1] - The validity period for the stock issuance resolution was set for twelve months from the date of approval, but it has now expired [1] - The issuance was intended for up to 35 qualified investors, including various financial institutions and qualified foreign investors, with a maximum fundraising amount of RMB 113.4 million [2][3] Group 2: Financial Details - The shares to be issued are domestic A-shares with a par value of RMB 1.00, and the issuance price would be no less than 80% of the average trading price over the previous 20 trading days [2] - The total number of shares to be issued would not exceed 30% of the company's total share capital prior to the issuance, amounting to a maximum of 88,989,870 shares [2] - The funds raised were planned to be allocated to projects including the Shanghai Civil Aviation Production Base and the Shanghai R&D Center, as well as to supplement working capital [3] Group 3: Shareholder Structure - As of September 30, 2024, the controlling shareholder, Wang Zengduo, held 31.10% of the company's shares, and the issuance would not change the control structure of the company [4] - If the maximum number of shares were issued without Wang Zengduo's participation, his ownership would decrease to approximately 23.92% [4] Group 4: Previous Fundraising Activities - Since its listing on October 29, 2020, Guanglian Aviation has raised a total of RMB 1.639 billion through various fundraising activities [5][6] - The company previously issued 7 million convertible bonds in March 2023, raising RMB 700 million, with a net amount of RMB 692.05 million after expenses [4]