Core Viewpoint - Jiangbolong plans to issue up to 126 million shares to raise no more than 3.7 billion yuan for technology development in storage products and related projects, while maintaining control by its major shareholders [1][2] Group 1: Fundraising and Shareholding - Jiangbolong intends to issue shares to no more than 35 specific investors, raising a total of up to 3.7 billion yuan [1] - The current controlling shareholders, Cai Huabo and Cai Lijiang, hold 42.17% of voting rights, which will decrease to 32.44% post-issuance, yet they will still retain control [1] Group 2: Use of Proceeds - The funds will primarily be allocated to three key areas: high-end storage product R&D for AI (880 million yuan), semiconductor storage main control chip development (1.22 billion yuan), and high-end packaging and testing (500 million yuan), with the remaining 1.1 billion yuan for working capital [1] - The fundraising is aimed at addressing the company's financial needs for business development and enhancing its main business in high-end storage products [1] Group 3: Business Expansion and Performance - Jiangbolong has expanded its business into integrated circuit design, covering embedded storage, solid-state drives, mobile storage, and memory modules, with brands like FORESEE and Lexar holding significant market positions [1] - The company is the second-largest independent storage enterprise globally and ranks first among domestic brands in enterprise-level SATA SSD capacity in China as of mid-2025 [2] - From 2022 to Q3 2025, Jiangbolong's R&D expenses increased from 356 million yuan to 701 million yuan, maintaining a research expense ratio of 4.19%-5.86% [2] - For the first three quarters of this year, Jiangbolong reported revenues of 16.734 billion yuan, a year-on-year increase of 26.12%, and a net profit of 713 million yuan, up 27.95% [2] - The third quarter alone saw revenues of 6.539 billion yuan, a 54.6% increase year-on-year, with net profits of 698 million yuan compared to a loss of 36.84 million yuan in the same period last year [2] Group 4: Inventory and Receivables - Despite positive performance, Jiangbolong's inventory has risen significantly from 3.744 billion yuan in 2022 to 8.517 billion yuan by Q3 this year, accounting for 43.67% of total assets [2] - Accounts receivable also increased from 914 million yuan to 2.786 billion yuan during the same period [2]
拟最高募资37亿元，江波龙欲“补血”扩张