Furja(SH:603219) Chang Jiang Shang Bao·2026-01-09 00:46Core Viewpoint - Fuhua Co., Ltd. is expanding its overseas production base and focusing on energy storage and robotics, with a fundraising plan to raise up to 700 million yuan for these initiatives [1][3]. Group 1: Fundraising and Investment - The company plans to issue convertible bonds to raise a total of up to 700 million yuan, with approximately 3.28 billion yuan allocated for the construction of its second phase of the Vietnam production base, accounting for about 47% of the total fundraising [1][3][4]. - The net proceeds from the fundraising will also be used for the industrialization of commercial and household energy storage systems (2.39 billion yuan) and the industrialization of smart grain storage robots (1.33 billion yuan) [3][4]. Group 2: Overseas Revenue Growth - In the first half of 2025, Fuhua's overseas revenue reached 1.036 billion yuan, a year-on-year increase of 28.79%, making up about 70% of its main business revenue [2][5]. - The company has become a well-known ODM supplier for clean home appliances and is among the top ten vacuum cleaner exporters in China, with products distributed across North America, Europe, Asia, and Oceania [2][5]. Group 3: Business Development and Performance - Fuhua has seen significant growth in its energy storage business, which has become a second growth curve for the company, achieving revenue of 245 million yuan during the reporting period [6][7]. - The company is also advancing in the robotics sector, having established partnerships and launched innovative products like the intelligent grain storage robot [7][8]. - Despite revenue growth, the company has faced challenges with profitability, reporting a decline in net profit in recent years due to intense market competition and incomplete rollout of new industries [8][9].