Greenway(SH:688345) 2 1 Shi Ji Jing Ji Bao Dao·2025-12-22 02:29Core Viewpoint - The company, Boliwei (688345.SH), has announced a plan to issue A-shares to raise no more than 650 million yuan for three main projects, indicating a strategic focus on enhancing its manufacturing capabilities and R&D in the battery sector [1] Group 1: Fundraising and Project Allocation - The company plans to invest 463 million yuan in a smart manufacturing project for lightweight power batteries with full-tab cylindrical designs [1] - An additional 47.0738 million yuan will be allocated to an AI-driven project aimed at improving the reliability analysis and R&D capabilities of new energy batteries [1] - The remaining 140 million yuan is designated for supplementing working capital [1] Group 2: Financial Performance and Previous Fund Utilization - As of September 30, 2025, the company's debt-to-asset ratio stands at 63.23%, with accounts receivable valued at 629.6026 million yuan, constituting 34.59% of current assets [1] - The company has not declared cash dividends for 2023 and 2024 due to negative net profits [1] - The net proceeds from the company's IPO, amounting to 580 million yuan, have been fully utilized, with 517 million yuan invested and a remaining balance of 77.8976 million yuan permanently allocated to working capital [1] Group 3: Previous Project Outcomes - The lithium-ion battery production line project has generated cumulative benefits of 386.0799 million yuan, although it fell short of expectations due to long market promotion cycles and industry fluctuations [1] - The lightweight lithium-ion battery project is expected to reach operational status by April 2025, with projected revenues of 301.8998 million yuan from January to September 2025 [1]