Wetown Electric(SH:688226) Zhong Guo Jing Ji Wang·2025-11-12 03:13Core Viewpoint - Weiteng Electric (688226.SH) plans to raise a total of up to RMB 299.85 million through a simplified procedure for issuing A-shares to specific investors, with the funds allocated for smart manufacturing projects and working capital [1][3]. Group 1: Fundraising Details - The total amount of funds raised is capped at RMB 299.85 million, which will be used for the high-voltage bus smart manufacturing project, energy-saving transformer smart manufacturing project, and to supplement working capital [1][3]. - The high-voltage bus smart manufacturing project has a total investment of RMB 141.80 million, with RMB 118.76 million expected to be funded from the raised capital [3]. - The energy-saving transformer smart manufacturing project has a total investment of RMB 133.81 million, with RMB 106.08 million expected to be funded from the raised capital [3]. Group 2: Issuance Process - The shares will be issued as domestic listed RMB ordinary shares (A-shares) with a par value of RMB 1.00 per share, and the issuance will be completed within 10 working days after the China Securities Regulatory Commission's registration decision [3][4]. - The pricing benchmark date is set for the first day of the issuance period, with the issue price being no less than 80% of the average trading price over the previous 20 trading days [4]. - The number of shares issued will not exceed 10% of the total share capital before the issuance, and the final number will be determined by the board of directors in consultation with the lead underwriter [4]. Group 3: Shareholder Information - The controlling shareholder before the issuance is Jiang Wengong, with a total shareholding of 35.81% held by Jiang Wengong and Jiang Zhengda [5]. - Post-issuance, the shareholding percentage of the controlling shareholders is expected to decrease, but control of the company will remain unchanged [5]. - Weiteng Electric was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on July 7, 2021, with an initial issuance of 39 million shares at a price of RMB 6.42 per share [5].