Company Overview - Xiangtan Electric Manufacturing Co., Ltd. is planning to issue A-shares to specific investors, with a registered capital of RMB 1,325,406,445.00 and listed on the Shanghai Stock Exchange under the stock code 600416 [1][19]. - The company specializes in the manufacturing of electric motors, special products, and urban rail transit equipment, categorized under the electrical machinery and equipment manufacturing industry [19]. Issuance Details - The company intends to issue no more than 30% of its total share capital, amounting to 39,762.19 million shares, to specific investors, with a total fundraising target of up to RMB 200,000.00 million [4][6]. - The issuance will be conducted through a private placement to no more than 35 specific investors, including securities investment funds, securities companies, insurance institutions, and other legal entities [2][3]. Fund Utilization - The raised funds will be allocated to the development and industrialization of aviation electrical systems and magnetic levitation bearing high-speed motor systems, as well as to supplement working capital [5][6]. - The total investment for the aviation electrical system project is estimated at RMB 231,297.13 million, with the fundraising amount planned at RMB 200,000.00 million [5]. Shareholder Structure - As of June 30, 2025, the controlling shareholder, Xiang Electric Group, holds 13.66% of the company's shares, while the combined holdings of Xiang Electric Group and its concerted action partner, Xingxiang Group, amount to 30.70% [17][18]. - The actual controller of the company is the Hunan Provincial State-owned Assets Supervision and Administration Commission [17]. Industry Characteristics - The electric motor manufacturing industry is regulated by the National Development and Reform Commission and the Ministry of Industry and Information Technology, focusing on energy efficiency and technological innovation [19]. - The industry is characterized by a strong emphasis on energy-saving technologies and compliance with national standards for equipment efficiency [19].

Group 1 - The company reported a revenue of 8.03 billion yuan for the first half of 2025, a year-on-year increase of 0.66% [1] - The net profit attributable to shareholders reached 537 million yuan, reflecting a significant year-on-year growth of 36.76% [1] - The company is actively pursuing an "outbound strategy" to expand its overseas market presence [1] Group 2 - The company has acquired several well-known overseas motor and control product manufacturers, enhancing its competitive advantages in global manufacturing and marketing [2] - The company has established five major R&D centers globally and has a central research institute in Shanghai, focusing on leading technologies in motor and control [2] - The global robotics market reached a scale of 63.5 billion dollars in the first half of 2025, with a year-on-year growth of 12.7% [2] Group 3 - The company plans to issue shares (H-shares) and list on the Hong Kong Stock Exchange to enhance its global strategic layout and international competitiveness [3]