Zhong Guo Jing Ji Wang·2025-11-15 07:58Core Viewpoint - Water Development Gas (603318.SH) has received approval from the Shanghai Stock Exchange for its application to issue shares to specific investors, with the total fundraising amount not exceeding RMB 500 million, aimed at repaying interest-bearing debts [1][2]. Group 1: Share Issuance Details - The company plans to issue shares to Water Development Group Limited, its controlling shareholder, which intends to subscribe to all shares in cash [1]. - The total number of shares to be issued is adjusted to a maximum of 95,602,294 shares, representing no more than 30% of the company's total share capital prior to the issuance [2]. - The issue price has been adjusted from RMB 5.29 per share to RMB 5.23 per share [2]. Group 2: Shareholding Structure - As of June 30, 2025, Water Development Group holds 111,768,935 shares, accounting for 24.35% of the company, making it the controlling shareholder [2]. - Water Development Group, along with its subsidiaries, collectively controls 42.80% of the company's shares, with the Shandong Provincial State-owned Assets Supervision and Administration Commission being the actual controller [2]. Group 3: Regulatory Process - The issuance is subject to approval from the China Securities Regulatory Commission (CSRC), and the timeline for this approval remains uncertain [1]. - The company will fulfill its information disclosure obligations based on the progress of the application [1]. Group 4: Sponsorship - The sponsor for this issuance is Zhongtai Securities Co., Ltd., with representatives Chi Yuanxing and Ning Wenxin [3].