Zhong Guo Jing Ji Wang·2025-12-25 02:27Core Viewpoint - The issuance of securities by Tangyuan Electric (300789) has been approved by the Shenzhen Stock Exchange, allowing the company to raise funds through a targeted issuance to specific investors [1][2]. Group 1: Issuance Details - The targeted issuance will involve no more than 35 entities, including various types of institutional and individual investors, with subscriptions made in cash at a uniform price [1]. - The pricing for the issuance will be based on 80% of the average trading price over the 20 trading days prior to the pricing date [1]. - The total number of shares to be issued will not exceed 30% of the total share capital before the issuance, amounting to a maximum of 43.116 million shares [1]. Group 2: Fund Utilization - The total amount to be raised from this issuance is capped at RMB 806.2358 million, which will be allocated to projects including the development and industrialization of intelligent operation and maintenance robots for rail transit, AI model development, marketing and technical service upgrades, and to supplement working capital [2]. Group 3: Shareholding Structure - As of the date of the fundraising document, the controlling shareholder, Zhou Yan, holds 36.16% of the company’s shares, and after the issuance, her stake will decrease to 27.82%, but she will remain the controlling shareholder [3]. - The overall shareholding of Zhou Yan and her concerted parties will reduce to 40.38% post-issuance, ensuring that the control of the company remains unchanged [3]. Group 4: Sponsorship - The underwriting for this issuance is being handled by CITIC Securities Co., Ltd., with representatives Yang Jiaqi and Guo Hao overseeing the process [4].