Core Viewpoint - Jinhe Biological plans to raise no more than 300 million yuan through a simplified procedure for specific investors, primarily for wastewater treatment expansion, water resource recycling projects, new product warehouse construction, and to supplement working capital [1][2]. Fundraising and Project Allocation - The total amount for the wastewater treatment expansion and water resource recycling project is 158.42 million yuan, with 135.52 million yuan allocated from the raised funds [2]. - The new product warehouse construction project (grain storage) has a total cost of 152.38 million yuan, with 128.01 million yuan planned to be funded from the new issuance [2]. - A total of 36.47 million yuan will be used to supplement working capital from the raised funds [2]. Financial Position - As of June 30, 2025, the company's consolidated debt-to-asset ratio is 55.49%, indicating a relatively high level of financial pressure [1]. - The company reported a total revenue of 1.39 billion yuan in the first half of the year, a year-on-year increase of 30.45%, and a net profit attributable to shareholders of 138 million yuan, up 51.52% [4]. Shareholder Activity - Prior to the announcement of the fundraising plan, the controlling shareholder, Jinhe Holdings, significantly reduced its holdings by 22.56 million shares, raising approximately 157 million yuan [2]. - After the reduction, Jinhe Holdings and its concerted actions hold a total of 256 million shares, accounting for 34.06% of the company's total share capital after excluding repurchased shares [2][3]. Regulatory Issues - In 2024, the company and related personnel received a warning letter from the Inner Mongolia Securities Regulatory Bureau due to seven executives borrowing over 4 million yuan from the company, constituting related party fund occupation [4].