Core Viewpoint - Jiangsu Donghua Testing Technology Co., Ltd. plans to issue A-shares to specific investors in 2025 to enhance its production capacity and technological capabilities, aligning with national policies promoting high-end scientific instrument development [12][13][14]. Group 1: Issuance Overview - The company intends to issue A-shares to no more than 35 specific investors, including various financial institutions and qualified investors [2][15]. - The issuance price will not be lower than 80% of the average trading price over the 20 trading days prior to the pricing benchmark date [3][16]. - The total number of shares to be issued will not exceed 5 million, representing no more than 30% of the company's total shares before the issuance [4][19]. Group 2: Fundraising Purpose and Use - The total expected fundraising amount is up to 150.2825 million yuan, with 170.8215 million yuan allocated for specific projects [6][22]. - The funds will primarily be used for upgrading the company's facilities and production lines, enhancing digital capabilities, and supporting sustainable business development [13][14][28]. - A portion of the funds, not exceeding 45 million yuan, will be allocated to supplement working capital to support ongoing business operations [28][30]. Group 3: Business and Market Context - The company operates in the high-end instrument sector, focusing on structural mechanics performance testing and intelligent measurement and control systems, with applications in various high-growth industries [12][13][14]. - The demand for the company's products is expected to increase due to national investments in key sectors such as aerospace, civil engineering, and automotive industries [13][24]. - The company aims to leverage favorable policies and market conditions to enhance its competitive position and drive industry transformation [25][30]. Group 4: Financial and Operational Impact - The issuance is anticipated to increase the company's total assets and net assets, thereby enhancing its financial stability and risk resistance [29][33]. - While there may be short-term dilution of earnings per share due to the increase in total shares, the long-term benefits from the investment projects are expected to improve profitability [29][32]. - The company has a strong technical foundation and a stable R&D team, which will support the successful implementation of the planned projects [26][27].