Core Viewpoint - Defu Technology (301511) plans to raise up to 1.89 billion shares through a private placement to specific investors, aiming to raise no more than 1.93 billion yuan for acquisitions and project developments [1][3] Group 1: Fundraising and Acquisition Plans - The company intends to use 1.43 billion yuan of the raised funds to acquire 100% of Luxembourg Copper Foil, with a total investment of 1.446 billion yuan [3] - Luxembourg Copper Foil is a leading global high-end electronic circuit copper foil manufacturer, with core technologies in HVLP and DTH products, serving AI servers, 5G base stations, and mobile terminals [3][4] - The acquisition is expected to enhance Defu Technology's position in both lithium battery and electronic circuit copper foil sectors, while alleviating its asset-liability ratio of 73.55% as of June 30, 2025 [1][6] Group 2: Financial Performance and Market Position - Defu Technology's stock price has increased by 194% year-to-date, significantly outperforming the market, driven by improved financial performance and business expansion [5][6] - For the first half of 2025, the company reported a revenue of 5.299 billion yuan, a year-on-year increase of 66.82%, and a net profit of 38.7062 million yuan, marking a turnaround from losses [6] - The company plans to allocate 200 million yuan for an electronic chemical project for copper foil additives, which will enhance its supply chain stability and cost efficiency [4] Group 3: Share Structure and Regulatory Considerations - The private placement will not change the control of the company, as the controlling shareholder's stake will decrease from 33.57% to 25.83% post-issuance [7] - The issuance price will be based on the average stock price over the previous 20 trading days, ensuring a fair valuation for investors [7]