震安科技三连亏新主包揽7.4亿定增 推五折股票激励考核三年内盈利

Core Viewpoint - Zhenan Technology (300767) is actively addressing industry challenges through a dual approach of private placement and stock incentive plans, aiming to enhance its financial stability and operational performance amid ongoing losses [1][4]. Group 1: Private Placement - The company plans to raise up to 741 million yuan through a private placement of shares at a price of 15.96 yuan per share, aimed at supplementing working capital and repaying bank loans [2][5]. - The private placement will further increase the control of Ning Huaxiang and his wife over Zhenan Technology, following their acquisition of controlling interest in the company [2][3]. - The funds raised will be used to strengthen the company's financial position, which has been challenged by a slowdown in the construction industry and accounts receivable impairments [4][6]. Group 2: Stock Incentive Plan - Zhenan Technology has introduced a stock incentive plan, granting shares to key employees, including the CFO, at a price representing 53% of the market value, with a total value of approximately 51.8 million yuan for the CFO alone [1][7]. - The incentive plan sets ambitious performance targets for revenue and net profit growth over the next three years, reflecting management's positive outlook on the company's recovery [1][7]. - The plan aims to bind core employees to the company's performance, potentially improving operational results and aligning interests [7]. Group 3: Financial Performance - Zhenan Technology has faced significant financial challenges, with cumulative net losses exceeding 285 million yuan over the past three years, and projections indicate further losses in 2025 [5][6]. - The company reported fluctuating revenues from 2021 to 2024, with a notable decline in 2023, and anticipates revenues between 477 million and 573 million yuan for 2025, alongside expected net losses [5][6]. - The company attributes its ongoing losses to issues with long-term accounts receivable and a low utilization rate of production capacity, despite implementing cost control measures that have shown some effectiveness [6].