帝欧水华：拟定增3.6亿元用于补流偿债 前次可转债募投项目不及预期

Group 1 - The company, Diou Waterhua, plans to raise up to 360 million yuan through a private placement of A-shares to a specific entity, Shuihua Zhiyun, with the issuance price set at 5.05 yuan per share, and the number of shares not exceeding 71.2871 million [1] - Following the issuance, the shareholding ratio of the actual controller and its concerted parties will increase to 36.26% [1] - The company is facing financial pressure, with debt ratios recorded at 64.11%, 66.93%, 72.33%, and 63.49% from the end of 2022 to September 2025, indicating a consistently high level of leverage [1] Group 2 - As of September 2025, the company has short-term borrowings and current liabilities totaling 1.128 billion yuan, alongside an outstanding convertible bond balance of 844 million yuan, indicating significant short-term repayment pressure [1] - Financial expenses are high, with 102 million yuan recorded for the first nine months of 2025, while the net profit attributable to shareholders shows a loss of 141 million yuan during the same period, reflecting ongoing performance challenges [1] - The company has terminated two major projects from its 2019 convertible bond fundraising due to market conditions and capacity demand changes, reallocating 477 million yuan of surplus funds to supplement working capital [2] Group 3 - The "Oushennuo Eight Group's annual production of 50 million square meters of high-end wall and floor tile intelligent production line phase II" project has incurred a total investment of 518 million yuan but has generated a loss of 8.8959 million yuan, falling short of the promised annual net profit target of 154 million yuan [2] - The decline in revenue from engineering channels is attributed to difficulties in payment from real estate clients, lower-than-expected capacity utilization, and intensified competition leading to price reductions [2] - Another project, "Two Groups' annual production of 13 million square meters of high-end ceramic tile intelligent production line," has also been repurposed and has yet to generate any revenue [2]