Zhong Guo Jing Ji Wang·2026-02-27 07:45Core Viewpoint - Longpan Technology has received approval from the Shanghai Stock Exchange for its plan to issue A-shares to specific investors, pending final approval from the China Securities Regulatory Commission (CSRC) [1] Group 1: Issuance Details - The total amount to be raised from the issuance is not to exceed RMB 1.88 billion, which will be used for projects related to high-performance phosphate cathode materials and to supplement working capital [1] - The issuance will target no more than 35 specific investors, including qualified institutional investors such as securities investment funds, securities companies, trust companies, financial companies, insurance companies, and qualified foreign institutional investors [2] - The pricing for the issuance will be based on 80% of the average trading price of the company's shares over the 20 trading days prior to the pricing date [2] Group 2: Shareholding Structure - As of the announcement date, the actual controllers of Longpan Technology are Shi Junfeng and Zhu Xianglan, holding a combined total of 238,182,052 shares, which is 34.77% of the total share capital before the issuance [3] - After the issuance, the combined shareholding of Shi Junfeng and Zhu Xianglan is projected to decrease to 26.74%, indicating that control of the company will not change as a result of this issuance [3] - The lead underwriter for this issuance is CITIC Securities, with representatives Zhou Baichuan and Shi Jiwei [3]