创力集团回复定增问询：定价基准日11个月后才申报，认购资金八成源于质押贷款

Group 1 - The core issue of the news is the response of Chuangli Group (603012.SH) to the Shanghai Stock Exchange regarding its stock issuance to specific targets, addressing concerns about pricing rationality and funding arrangements [1] - The pricing benchmark date for the stock issuance is set for November 14, 2024, with the submission of application documents not expected until October 24, 2025. The delay is attributed to the actual controller, Shi Liangxi, needing time to secure funding arrangements and engage in detailed discussions with financial institutions [1] - Since the pricing benchmark date, the company's stock price has increased from 4.91 CNY per share to 6.03 CNY per share as of November 6, 2025, reflecting a cumulative increase of 22.81%, although this performance is weaker than the industry index [1] Group 2 - The sole subscriber for this issuance is Quanyi (Hangzhou) Technology Co., Ltd., which is 100% controlled by Shi Liangxi and was established specifically for this subscription, with no actual business operations to date [2] - The funding for the subscription is planned to come from the actual controller's own funds and bank acquisition loans, with the loan amount not exceeding 160 million CNY, potentially accounting for up to 80% of the total fundraising [2] - The company has adjusted the total amount of funds to be raised from a maximum of 190 million CNY to 160 million CNY as of November 14, 2025 [3]