Core Viewpoint - Jiangsu Yawey Machine Tool Co., Ltd. is seeking to issue shares to specific targets, with a total fundraising amount not exceeding 924.5749 million yuan, and the issuance will result in Yangzhou Industrial Development Group becoming the controlling shareholder, with the Yangzhou State-owned Assets Supervision and Administration Commission as the actual controller [3][4][10]. Fundraising and Project Allocation - The proposed fundraising will allocate 303.66 million yuan to the second phase of the servo press and automated stamping line project, while 620.9149 million yuan will be used to supplement working capital and repay bank loans [4][10]. - The first phase of the project began construction in 2023 and is currently in trial production, with a designed capacity of 2,000 presses and 100 automated stamping lines per year [4][10]. Regulatory Approvals and Progress - The fundraising requires approval from the State-owned Assets Supervision and Administration Department, which has not yet been obtained [3][5]. - As of June 20, 2025, the Yangzhou Industrial Development Group's subscription for shares has been approved by the Jiangsu Provincial Government's State-owned Assets Supervision and Administration Commission [6][10]. - The Yangzhou Jiangdu District People's Government has issued a land acquisition announcement for the project site, and the company will participate in the bidding process for the land [8][9]. Financial Sources and Stability - The subscription funds will come from 40% self-owned funds and 60% acquisition loans, with a total fundraising amount of 924.5749 million yuan [11][12]. - The Yangzhou Industrial Development Group has a cash balance of 446 million yuan as of June 30, 2025, which is sufficient to cover the acquisition needs [13]. Shareholding and Control - The Yangzhou State-owned Assets Supervision and Administration Commission does not directly or indirectly hold shares in Yawey Machine Tool, and there are no agreements for voting rights or concerted actions regarding shareholding [14][15]. - The actual controller of the subscription target, Yangzhou Industrial Development Group, has committed not to reduce its holdings in Yawey Machine Tool for six months after the pricing benchmark date [16][17]. Historical Fundraising and Compliance - The company has not changed the use of funds from previous fundraising activities, and all fundraising activities have complied with relevant regulations [18][19][20].