震安科技：拟定增7.4亿补流 实控人全额认购 近三年业绩持续亏损

Core Viewpoint - Zhen'an Technology (300767.SZ) announced a private placement plan to raise up to 741 million yuan, primarily to enhance liquidity and repay bank loans amid ongoing financial struggles [1] Group 1: Private Placement Details - The company plans to issue no more than 46.42 million shares at a price of 15.96 yuan per share [1] - The issuance will be directed towards actual controller Ning Huaxiang and his controlled entity Dongchuang Shuzhi, with each subscribing for no more than 23.21 million shares [1] - The shares will have a lock-up period of 18 months [1] Group 2: Financial Performance - The company's revenue is projected to decline from 694 million yuan in 2023 to 417 million yuan in 2024, with consecutive net losses of 41.13 million yuan and 141 million yuan [1] - The forecast for 2025 indicates an expanded loss of between 103 million yuan and 134 million yuan [1] - Cumulative credit impairment losses from 2022 to September 2025 exceed 220 million yuan [1] Group 3: Asset Management and Investment Issues - The company plans to recognize a fixed asset impairment of 16.5 million yuan in 2024, with further impairments anticipated due to low capacity utilization at its Hebei subsidiary [1] - The Hebei production base project, funded by a 280 million yuan convertible bond in 2021, has only seen an actual investment of 225 million yuan by September 2025, with a capacity utilization rate of only 13.3% and cumulative losses of 11.63 million yuan [1] - A previous fundraising of 245 million yuan in 2022 for a research center project was halted due to incomplete land procedures, with only the damper project commencing production by September 2025 but failing to generate benefits [1]