Core Viewpoint - Shenzhen Zhongjin Lingnan Nonfemet Co., Ltd. plans to issue A-shares to specific investors to raise funds for working capital and repay bank loans, with a share price set at 3.74 yuan per share, subject to adjustments based on certain conditions [1][2]. Company Overview - The company is engaged in the production and processing of non-ferrous metals, primarily focusing on lead, zinc, and copper [5]. - As of March 31, 2025, the total number of shares is 3,737,596,125, with a significant portion held by Guangdong Guangsheng Holding Group, which controls 35.72% of the shares [5]. Financial Information - The company reported total revenues of 55.44 billion yuan and 65.65 billion yuan for the previous two years, with net profits of 1.17 billion yuan and 642.62 million yuan respectively [2]. - The proposed cash dividend is 0.87 yuan per 10 shares, totaling approximately 325.17 million yuan [1]. Share Issuance Details - The issuance will involve a maximum of 409,836,065 shares, accounting for 10.97% of the total shares before the issuance [1]. - The final number of shares issued will depend on the approval from the China Securities Regulatory Commission [1]. Industry Context - The company operates in the non-ferrous metal smelting and processing industry, which is capital-intensive and subject to macroeconomic fluctuations [2][5]. - The industry is regulated by various government bodies, including the National Development and Reform Commission and the Ministry of Industry and Information Technology [5][6]. Risk Factors - The company faces risks related to inventory management, as it has significant inventory levels that could lead to liquidity issues if market prices fluctuate [2]. - There is a reliance on mineral resources, with potential discrepancies between estimated and actual reserves impacting operations [2].