Core Viewpoint - Zhongjing Electronics (002579.SZ) is accelerating its capacity expansion by planning to raise up to 700 million yuan through a private placement, with funds primarily allocated for production capacity expansion and working capital supplementation [1][2]. Fundraising Plan - The company intends to raise no more than 700 million yuan, with at least 70 million yuan to be subscribed by the actual controller Yang Lin, who will participate in up to 30% of the total shares issued [2][3]. - The fundraising will support the "Thailand PCB Intelligent Production Base Project," which will utilize 300 million yuan, accounting for 42.86% of the total funds raised [3]. Strategic Intent - The fundraising indicates the company's strategic intent to expand overseas markets and optimize its industrial layout, particularly in Thailand, which is emerging as a new electronic manufacturing hub with cost advantages and policy support [3][4]. - The "Huizhou Zhongjing Production Line Upgrade Project" will receive 200 million yuan to enhance production line intelligence and replace outdated equipment [3]. Financial Performance - In the first half of 2025, the company achieved revenue of 1.618 billion yuan, a year-on-year increase of 21.29%, and net profit of 18.29 million yuan, marking a return to profitability [1][6]. - The company has invested a total of 802 million yuan in R&D from 2020 to the first half of 2025, which has supported its business growth and technological advancements [5][7]. Historical Context - Zhongjing Electronics has been in the PCB industry for over 20 years, with a diverse product line including rigid boards, HDI boards, and flexible boards [6]. - The company faced challenges in previous years, with a revenue drop to 2.624 billion yuan in 2023 but showed signs of recovery with a narrowed net loss of 137 million yuan, a 23.33% year-on-year improvement [6][7].