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东山精密: 向特定对象发行A股股票上市公告书
Zheng Quan Zhi Xing· 2025-06-24 17:50
Core Points - Suzhou Dongshan Precision Manufacturing Co., Ltd. is issuing shares to specific investors, with a total of 125,693,822 shares to be issued at a price of 11.17 RMB per share after adjustments [10][11][20] - The total funds raised from this issuance amount to approximately 1.404 billion RMB, with a net amount of about 1.392 billion RMB after deducting issuance costs [9][11][12] - The issuance is primarily aimed at enhancing the company's working capital to support business development and improve its competitive strength [26] Issuance Details - The shares will be issued to two specific investors, the controlling shareholders Yuan Yonggang and Yuan Yongfeng, who will fully subscribe to the shares using cash [10][14] - The shares will have a lock-up period of 36 months, during which they cannot be transferred [20][21] - The issuance complies with the regulations set by the Shenzhen Stock Exchange and the China Securities Regulatory Commission [17][19] Financial Impact - The issuance will increase the company's total share capital and improve its financial structure, with the total number of shares increasing from approximately 1.706 billion to about 1.832 billion [21][25] - The basic earnings per share are expected to decrease slightly from 0.27 RMB to approximately 0.2489 RMB post-issuance, while the net asset per share will remain relatively stable [24][25] - The funds raised will be allocated to enhance liquidity and support ongoing business operations without altering the company's core business structure [26][27] Corporate Governance - The issuance process has been reviewed and approved by the board of directors and shareholders, ensuring compliance with internal governance procedures [17][19] - The controlling shareholders' ownership percentage will increase, but the overall control of the company will remain unchanged [25][26] - The company will continue to adhere to legal and regulatory requirements in its governance practices post-issuance [27]
聚焦政策机遇 安徽召开上市公司高质量发展专项培训会
本次培训会上,有关中介机构引用境内A股企业赴港上市后,融资规模增长、海外市场份额提升等典型 案例,直观展现企业赴港上市的机遇与发展空间,旨在推动安徽省A股上市公司加快布局"A+H"双平 台,提升国际影响力和全球市场竞争力。 6月24日,安徽省委金融办联合人行安徽省分行、安徽证监局共同举办全省上市公司高质量发展专项培 训会,聚焦"A+H"上市、并购重组及再融资、科创债等话题,为辖区上市公司提供相关政策解读及业务 指导。 安徽省有关单位、各市地方金融管理职能部门、全省A股上市公司、省上市公司协会及长三角(安徽) 资本市场学院等260余名嘉宾参加本次培训会。 近一年多来,伴随着系列支持政策密集发布,内地企业赴港上市迎来黄金窗口期。新"国九条"出台后, 中国证监会发布5项资本市场惠港合作措施,明确表示将支持内地企业赴港发行上市。与此同时,香港 联交所陆续推出适用于生物医药企业上市的"18A"和新兴科技企业上市的"18C"等特殊上市规则,允许 公司以保密形式递交上市申请,并专门配套"科企专线"服务,为医药、科技企业在提交上市申请前提供 专门指引、解答关键问题,协助企业更有效率地筹备上市。 2025年以来,内地赴港上市企 ...
政府债周报:新增专项债即将放量-20250623
Changjiang Securities· 2025-06-23 11:14
丨证券研究报告丨 固定收益丨点评报告 [Table_Title] 新增专项债即将放量 ——政府债周报(6/22) 报告要点 [Table_Summary] 6 月 23 日-6 月 29 日地方债披露发行 5856.5 亿元。其中新增债 4583.2 亿元(新增一般债 515.2 亿元,新增专项债 4068.0 亿元),再融资债 1273.2 亿元(再融资一般债 586.8 亿元,再融资 专项债 686.4 亿元)。 6 月 16 日-6 月 22 日地方债共发行 2617.5 亿元。其中新增债 697.2 亿元(新增一般债 272.5 亿元,新增专项债 424.8 亿元),再融资债 1920.3 亿元(再融资一般债 630.5 亿元,再融资专 项债 1289.8 亿元)。 分析师及联系人 [Table_Author] 赵增辉 赖逸儒 SAC:S0490524080003 SAC:S0490524120005 请阅读最后评级说明和重要声明 SFC:BVN394 SFC:BVZ968 %% %% %% %% research.95579.com 1 [Table_Title 新增专项债即将放量 2] ——政府债 ...
君实生物H股年涨超100%却高折价“输血”,创新药企 “融资—研发—再融资”的繁华与困局|创新药观察
Hua Xia Shi Bao· 2025-06-20 12:15
值得一提的是,此次高折价配售(较前一日收盘价折让11.52%)不仅创下年内港股生物医药板块最大折价融资纪 录,更暴露出公司现金流的严峻形势,折射出市场对创新药企"融资—研发—再融资"循环模式的担忧。 对此,中国企业资本联盟副理事长柏文喜对《华夏时报》记者表示,"君实生物此次折价配售,主要是因为公司面 临较大的资金压力,公司需要通过配售来快速筹集资金以维持研发和运营。此次以11.52%的年内最大折价配售, 可以看作是公司在资金压力下的无奈之举。" 资本困局:十载亏百亿元,四年融七十亿元 这已经是君实生物最近四年间的第三次大规模融资。 华夏时报(www.chinatimes.net.cn)记者 于娜 见习记者 赵文娟 北京报道 近日,君实生物(688180.SH,01877.HK)以每股25.35港元配售4100万股H股,预计募资净额约10.26亿港元。今 年以来,得益于多项BD交易达成,以及基本面的改善,创新药整体表现突出。截至6月18日收盘,君实生物的H 股年涨幅超100%;其A股亦同步冲高,年涨幅超25%。 从资金消耗与偿债能力指标看,君实生物的财务压力呈持续攀升态势。2021—2024年间,公司资产负债率 ...
上交所发行上市审核问答汇总(最新)
梧桐树下V· 2025-06-19 11:36
Core Viewpoint - The article summarizes key points from the "Shanghai Stock Exchange Listing Review Dynamics" published since the implementation of the comprehensive registration system, focusing on various regulatory requirements and best practices for companies and intermediaries in the context of IPOs and refinancing. Group 1: Waste Management and Sales Verification - Companies must establish robust internal controls for waste management, including processes for classification, storage, and sales of waste materials [3][4][5] - Intermediaries should verify the accuracy of waste sales accounting, ensuring that sales pricing is fair and consistent with market standards [4][5] - The cost accounting for waste should align with industry practices and maintain consistency throughout reporting periods [5] Group 2: Special Issuance of Securities - When issuing securities to specific targets, companies must ensure that the board resolution complies with regulatory requirements, particularly regarding pricing mechanisms and the involvement of predetermined targets in bidding processes [6][7] - Independent financial advisors and legal representatives must conduct thorough checks on the issuance process to ensure compliance [7] Group 3: Independent Financial Advisors in Mergers and Acquisitions - Independent financial advisors should enhance their professional capabilities to facilitate mergers and acquisitions, focusing on understanding the industry and transaction parties [8] - Advisors must conduct comprehensive due diligence and maintain robust internal controls to ensure the quality of the restructuring process [9] Group 4: Post-Audit Changes in Business Environment - Intermediaries must monitor and verify any significant changes in the business environment after the audit cutoff date, including regulatory changes and market conditions [10][11] - Companies are required to disclose these changes in their prospectus, highlighting potential impacts on future performance [11] Group 5: Convertible Bond Issuance - Companies must ensure that the cumulative bond balance does not exceed 50% of the latest net assets after issuing convertible bonds [12][13] - The disclosure and verification requirements for convertible bond projects include ensuring that the issuance scale is reasonable and compliant with regulations [12][13] Group 6: Internal Control Audits for Listing Applicants - Companies must provide an internal control audit report from a certified public accountant when submitting listing applications or updating financial data [14][15] - Auditors should adhere to relevant guidelines to assess the effectiveness of internal controls and address any significant deficiencies [15] Group 7: R&D Personnel Recognition - Non-full-time R&D personnel should be evaluated based on their actual R&D hours to determine their classification as R&D staff [16][17][18] - Companies must establish internal controls for managing and tracking R&D personnel to ensure compliance with industry standards [18] Group 8: Technology Transfer from Industry-Academia Cooperation - Companies must clarify the ownership and rights associated with technology developed through industry-academia cooperation [19][20] - The degree of reliance on such cooperation should be assessed to ensure that companies possess adequate independent R&D capabilities [19][20] Group 9: Regulatory Compliance for Intermediaries - Intermediaries involved in refinancing projects must be scrutinized for any recent regulatory penalties, which could affect their eligibility for simplified procedures [21][22][23] - Continuous monitoring and reporting of any new developments that may impact compliance are essential [24] Group 10: Equity Incentives and Share-Based Payments - Companies must ensure that the terms of equity incentives are clearly defined and approved to establish the grant date for share-based payments [25][26] Group 11: Pre-Communication in M&A Projects - Companies and advisors should prepare comprehensive consultation materials before submitting M&A projects to enhance communication efficiency [28][29] - Strict management of insider information is crucial during the restructuring process to prevent insider trading [29] Group 12: Fund Utilization in Refinancing - Companies must provide detailed disclosures regarding the specific use of funds raised through refinancing, including the breakdown of capital and non-capital expenditures [30][31][32] Group 13: Major Events Affecting Key Personnel - Companies must report any significant events involving key personnel that could impact listing conditions, ensuring timely communication with regulatory bodies [33] Group 14: Application for Audit System Access - Securities service institutions must follow specific procedures to apply for access to the audit system, ensuring compliance with regulatory requirements [34][35] Group 15: Previous Fund Utilization and Overfunding - Companies must include overfunded amounts in the calculation of previous fundraising utilization to ensure compliance with regulatory standards [36][37] Group 16: Small-Scale Fast-Track Review Mechanism - The small-scale fast-track review mechanism for asset acquisitions has specific criteria and procedural differences compared to conventional reviews [38][39] Group 17: Business Consultation Communication - Companies and intermediaries should utilize established communication channels effectively to address complex issues before submission [40][41]
为什么现在业务这么难做?投行大佬们总结出了一些实用建议
梧桐树下V· 2025-06-19 03:52
| 年中惠热销课程免费学 | 时长 | 原价 | The Dollea | | --- | --- | --- | --- | | | | | 5 折 | | 上市公司并购重组实务-2025年中惠专辑 | 12h | 899 | 449.5 | | 企业合规实务解析-2025年中惠专辑 | 12h | 899 | 449.5 | | 私募基金实务解析-2025年中惠专辑 | 13h | 799 | 399.5 | | 投行AI应用技巧-2025年中惠专辑 | 11h | 599 | 299.5 | | 企业并购重组实操专题(140案例) | 4.9h | 399 | 199.5 | | 上市公司控制权收购的15种方式 | 1h | 129 | 64.5 | | 并购交易精讲 | 2.7h | 269 | 134.5 | | 并购六条之后跨界并购实务与典型案例 | 1h | 88 | 44 | | 借壳上市与类借壳的模式解析 | 2h | 169 | 84.5 | | 上市公司并购重组审核7大法律要点 | 2.8h | 299 | 149.5 | | 企业出海全攻略 | 12h | 899 | 449.5 | ...
政府债务周度观察:中地储备专项债已发行近1700亿-20250619
Guoxin Securities· 2025-06-19 03:04
证券研究报告 | 2025年06月19日 政府债务周度观察 土地储备专项债已发行近 1700 亿 国债净融资+新增地方债发行第 24 周(6/9-6/15)2704 亿,第 25 周 (6/16-6/22)2048 亿。截至第 24 周(6/9-6/15)广义赤字累计 5.1 万 亿,进度 43.4%。 政府债净融资第 24 周(6/9-6/15)2190 亿,第 25 周(6/16-6/22)2594 亿。截至第 24 周(6/9-6/15)累计 6.8 万亿。 国债第 24 周(6/9-6/15)净融资 2621 亿,第 25 周(6/16-6/22)1351 亿。截至第 24 周(6/9-6/15)累计 3.1 万亿,进度 47.1%。 地方债净融资第 24 周(6/9-6/15)-430 亿,第 25 周(6/16-6/22)1243 亿。截至第 24 周(6/9-6/15)累计 3.7 万亿。 新增一般债第 24 周(6/9-6/15)13 亿,第 25 周(6/16-6/22)272 亿。 截至第 24 周(6/9-6/15))累计 3610 亿,进度 45.1%。 新增专项债第 24 周(6/9 ...
积极配置非银板块优质红马,持续关注业绩高弹性个股
Changjiang Securities· 2025-06-15 15:16
丨证券研究报告丨 SFC:BUV596 吴一凡 谢宇尘 程泽宇 SAC:S0490519080007 SAC:S0490521020001 SAC:S0490524090001 行业研究丨行业周报丨投资银行业与经纪业 [Table_Title] 积极配置非银板块优质红马,持续关注业绩 高弹性个股 报告要点 [Table_Summary] 二季度政策端与市场交投趋势稳中向好,我们认为优质的非银行业红马配置性价比仍较高,从盈利和分红 的稳定性维度出发,推荐江苏金租、中国平安及中国财险。综合业绩弹性及估值分位,推荐新华保险、中 国人寿、香港交易所、中信证券、东方财富、同花顺、九方智投控股。 分析师及联系人 [Table_Author] 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 投资银行业与经纪业 cjzqdt11111 [Table_Title 积极配置非银板块优质红马,持续关注 2] 业绩高 弹性个股 [Table_Summary2] 核心观点: 市场:市场热度有所回升,两市日均成交额 13,716.78 亿元,环比+13.47%,日均换手率 1.72%, 环 ...