CSG Energy(SZ:003035) Zhong Guo Dian Li Bao·2025-11-03 04:37Core Points - Southern Power Grid Comprehensive Energy Co., Ltd. plans to issue A-shares to raise no more than 2 billion yuan for energy-saving and carbon reduction projects, working capital, and repaying interest-bearing debts [1][2] - The controlling shareholder, China Southern Power Grid Co., Ltd., intends to subscribe for at least 41.26% of the total shares issued, amounting to no more than 1 billion yuan [1] - The total number of A-shares to be issued will not exceed 1.136 billion shares, accounting for no more than 30% of the company's total share capital before the issuance [1] Financial Overview - The company will allocate 1.6 billion yuan of the raised funds for energy-saving and carbon reduction projects, including 1.478 billion yuan for engineering costs, 55 million yuan for supporting engineering costs, and 67 million yuan for other construction expenses [1] - An additional 400 million yuan will be used to supplement working capital and repay interest-bearing debts, aimed at optimizing the company's capital structure and enhancing sustainable development and profitability [1] - The company's debt-to-asset ratio has increased from 54.11% in 2022 to 66.29% by the end of September this year, indicating a rising financial risk [1] Strategic Intent - The issuance is a strategic choice to enhance operational strength and respond to national strategic emerging industry deployments, promoting high-quality development in the energy-saving and carbon reduction sector [2] - It aims to meet future funding needs for business transformation and upgrade, reduce financial risks, and safeguard the interests of all shareholders [2]