Core Viewpoint - Jiangsu Yawey Machine Tool Co., Ltd. is in the process of issuing shares to specific investors, with a total fundraising amount not exceeding 924.5749 million yuan, which will result in the Yancheng Industrial Development Group becoming the controlling shareholder of the company [2][3]. Fundraising and Project Details - The company plans to raise 303.66 million yuan for the second phase of the servo press and automated stamping line project, and 620.9149 million yuan will be used to supplement working capital and repay bank loans [3][4]. - The first phase of the project began construction in 2023 and is currently in trial production, with a designed capacity of 2,000 servo presses and 100 automated stamping lines per year [3][4]. Regulatory Approvals and Risks - The company has received preliminary approval from the State-owned Assets Supervision and Administration Commission for the share issuance, but still needs to obtain various regulatory approvals, including land use rights and construction permits [6][9]. - The company has indicated that there are no significant legal obstacles to obtaining the necessary land use rights for the project, and alternative land options will be coordinated if needed [8][9]. Financial Position of the Investor - Yancheng Industrial Development Group will fund 40% of the subscription with its own funds and 60% through acquisition loans, with a total fundraising amount of 924.5749 million yuan [9][12]. - The financial data of Yancheng Industrial Development Group shows total assets of approximately 528.89 million yuan and net assets of approximately 402.27 million yuan as of June 30, 2025 [11][12]. Market Trends and Opportunities - The servo press market is expected to grow significantly, driven by the increasing demand for high-precision manufacturing in sectors such as new energy vehicles and rail transportation [18][20]. - The penetration rate of servo presses in China is currently below 20%, indicating substantial room for growth as domestic manufacturers seek to replace imported brands [18][19]. Product Development and Production Capacity - The second phase of the project will produce key components for the servo presses, which are essential for the first phase's production of complete machines [16][17]. - The company has established production capabilities and technical reserves necessary for the new project, ensuring alignment with its main business focus [17].

Core Viewpoint - Jiangsu Yawen Machine Tool Co., Ltd. is applying for a specific object stock issuance and listing on the main board, with the underwriting by Huatai United Securities [2][3]. Group 1: Issuer Information - Jiangsu Yawen Machine Tool Co., Ltd. has a total share capital of 549,765,024 shares as of March 31, 2025 [6]. - The company engages in the export of self-produced products and technology, as well as the import of raw materials and equipment necessary for production [6]. Group 2: Financial Data - As of March 31, 2025, the total assets of the company are 457,958.08 million, with total liabilities of 283,872.40 million, resulting in shareholders' equity of 174,085.67 million [7]. - The company's operating income for the first quarter of 2025 is 46,706.58 million, with a net profit of 3,067.38 million [7]. Group 3: Fundraising and Use of Proceeds - The total amount to be raised from this issuance is 92,457.49 million, which will be used for the "Servo Press and Automation Stamping Line Phase II Project" and to supplement working capital and repay bank loans [27][28]. - The Servo Press and Automation Stamping Line Phase II Project aims to achieve an annual production capacity of 31,700 tons of large precision structural parts, enhancing the company's production capabilities [27]. Group 4: Underwriter Information - Huatai United Securities is the lead underwriter for this issuance, with representatives Zhou Mingjie and Yi Bojie responsible for the project [3][4]. - The underwriting team has extensive experience in IPO projects and refinancing, having participated in various significant projects [4]. Group 5: Compliance and Regulatory Aspects - The issuance complies with the relevant laws and regulations, including the Company Law and Securities Law, and has undergone necessary internal decision-making processes [19][20]. - The issuance price is set at 7.28 yuan per share, which meets the requirement of being no less than 80% of the average trading price over the previous 20 trading days [29].

Core Viewpoint - Jiangsu Yawey Machine Tool Co., Ltd. is seeking to issue shares to specific targets, with a total fundraising amount not exceeding 924.5749 million yuan, and the issuance will result in Yangzhou Industrial Development Group becoming the controlling shareholder, with the Yangzhou State-owned Assets Supervision and Administration Commission as the actual controller [3][4][10]. Fundraising and Project Allocation - The proposed fundraising will allocate 303.66 million yuan to the second phase of the servo press and automated stamping line project, while 620.9149 million yuan will be used to supplement working capital and repay bank loans [4][10]. - The first phase of the project began construction in 2023 and is currently in trial production, with a designed capacity of 2,000 presses and 100 automated stamping lines per year [4][10]. Regulatory Approvals and Progress - The fundraising requires approval from the State-owned Assets Supervision and Administration Department, which has not yet been obtained [3][5]. - As of June 20, 2025, the Yangzhou Industrial Development Group's subscription for shares has been approved by the Jiangsu Provincial Government's State-owned Assets Supervision and Administration Commission [6][10]. - The Yangzhou Jiangdu District People's Government has issued a land acquisition announcement for the project site, and the company will participate in the bidding process for the land [8][9]. Financial Sources and Stability - The subscription funds will come from 40% self-owned funds and 60% acquisition loans, with a total fundraising amount of 924.5749 million yuan [11][12]. - The Yangzhou Industrial Development Group has a cash balance of 446 million yuan as of June 30, 2025, which is sufficient to cover the acquisition needs [13]. Shareholding and Control - The Yangzhou State-owned Assets Supervision and Administration Commission does not directly or indirectly hold shares in Yawey Machine Tool, and there are no agreements for voting rights or concerted actions regarding shareholding [14][15]. - The actual controller of the subscription target, Yangzhou Industrial Development Group, has committed not to reduce its holdings in Yawey Machine Tool for six months after the pricing benchmark date [16][17]. Historical Fundraising and Compliance - The company has not changed the use of funds from previous fundraising activities, and all fundraising activities have complied with relevant regulations [18][19][20].

Group 1 - Company plans to issue 128 million A-shares at a price of 7.21 yuan per share, raising up to 925 million yuan for projects and working capital [1] - The funds will be allocated to the servo press and automated stamping line phase II project and to supplement working capital and repay bank loans [2] - After the issuance, Yangzhou Industrial Investment Group will hold 18.91% of the company’s shares, gaining control and making it the largest shareholder [2][3] Group 2 - The servo press and automated stamping line phase II project has a total investment of 303.66 million yuan, with a production capacity of 31,700 tons of large precision structural parts annually [2] - The project is expected to save 350 million yuan in external structural part purchases annually and generate a net profit of approximately 41.38 million yuan after tax [2] - Yangzhou Industrial Investment Group aims to enhance the vitality of state-owned enterprises and promote economic development through this acquisition, aligning with the city's industrial development strategy [3]