Zhong Guo Jing Ji Wang·2026-02-13 09:21Core Viewpoint - The company, iFlytek, has received approval from the Shenzhen Stock Exchange for its application to issue shares to specific investors, pending final approval from the China Securities Regulatory Commission (CSRC) [1][2]. Group 1: Issuance Details - The total amount to be raised from the issuance is capped at 400 million yuan, which will be used for the Spark Education model, computing platform, and to supplement working capital [1][3]. - The issuance will involve no more than 100 million shares, representing 4.33% of the total share capital prior to the issuance [2][3]. - The pricing mechanism for the shares will be based on 80% of the average trading price over the 20 trading days preceding the issuance date [2]. Group 2: Specific Investors - The issuance will target no more than 35 specific investors, including Anhui Yanzhi Technology Co., Ltd., which is controlled by iFlytek's actual controller, Liu Qingfeng, and plans to subscribe for between 250 million yuan and 350 million yuan [2][3]. - The issuance constitutes a related party transaction due to the involvement of Yanzhi Technology, which is an affiliate of Liu Qingfeng [2]. Group 3: Control and Governance - Following the issuance, Liu Qingfeng's voting rights in iFlytek are expected to decrease slightly to between 11.16% and 11.26%, but he will remain the actual controller of the company [3]. - The lead underwriter for this issuance is Guoyuan Securities Co., Ltd., with representatives Zhu Peifeng and Liu Ziqi overseeing the process [3].