Group 1: Company Overview - Grace Fabric Technology Co., Ltd. is primarily engaged in the research, production, and sales of mid-to-high-end electronic-grade glass fiber cloth and yarn, achieving integrated production and operation of electronic yarn and cloth, making it a leading manufacturer in this sector globally [14][15]. - The company’s main products include electronic-grade glass fiber cloth, which is essential for manufacturing core copper foil substrates, widely used in smartphones, tablets, laptops, high-speed servers, communication bases, automotive electronics, and IC substrates [14][15]. - As of March 31, 2025, the company has a registered capital of 879,727,500 RMB and is listed on the Shanghai Stock Exchange under the stock code 603256 [15][16]. Group 2: Fundraising and Issuance Details - The company plans to raise a total of up to 994.6064 million RMB through a specific issuance of A-shares, with the net proceeds intended for various projects, including the construction of high-performance glass fiber yarn production lines and a research center for high-performance special glass fibers [5][6]. - The issuance will be conducted through a competitive bidding process, with the issuance price set at no less than 80% of the average trading price over the 20 trading days prior to the pricing date [2][3]. - The maximum number of shares to be issued will not exceed 30% of the total share capital before the issuance, with the final number subject to approval by the China Securities Regulatory Commission [4][6]. Group 3: Market and Industry Context - The electronic-grade glass fiber industry is characterized by high technical barriers and a concentrated market structure, with the company holding a significant competitive advantage [7]. - The company has established long-term stable partnerships with major global PCB manufacturers, including leading firms such as Shengyi Technology, Unimicron Technology, and Panasonic [14]. - The industry is regulated by the National Development and Reform Commission and the Ministry of Industry and Information Technology, with self-regulatory organizations like the China Glass Fiber Industry Association playing a key role in promoting healthy industry development [19][20].