Core Viewpoint - The company Huazhong Technology (华力创通) plans to issue A-shares to specific investors, aiming to raise up to 450 million yuan for various projects and working capital [1][2]. Group 1: Share Issuance Details - The share issuance will target up to 35 specific investors, including securities investment funds, securities companies, and qualified foreign institutional investors [1]. - The issuance will be conducted through a competitive bidding process, with the price set at no less than 80% of the average trading price over the previous 20 trading days [1]. - The total number of shares issued will not exceed 30% of the company's total share capital prior to the issuance [1]. Group 2: Fund Utilization - The total investment for the projects is approximately 598.78 million yuan, with the raised funds allocated as follows: - 113 million yuan for radiation-resistant module-based satellite computing equipment [3] - 90 million yuan for multi-mode satellite communication SOC chip development [3] - 112 million yuan for a global multi-mode navigation system project [3] - 135 million yuan for working capital [3]. Group 3: Ownership and Control - As of the announcement date, the actual controller, Gao Xiaoli, holds 108,866,400 shares, representing 16.43% of the total share capital [4]. - Post-issuance, Gao Xiaoli's shareholding is expected to decrease to 12.64%, but measures will be taken to avoid any change in control [4]. Group 4: Previous Fundraising and Financial Performance - In a previous issuance, the company raised approximately 330 million yuan, with a net amount of about 324 million yuan after expenses [5]. - The company anticipates a net loss of 98 million to 136 million yuan for the year 2024, a significant decline compared to a profit of 17.62 million yuan in the previous year [6].

Core Viewpoint - The company has convened the eighth meeting of the sixth supervisory board, where it approved the proposal for a private placement of A-shares to specific investors, which requires further approval from the shareholders' meeting [1][2][8]. Group 1: Meeting Details - The supervisory board meeting was held on March 31, 2025, with all members present and the meeting conducted in accordance with relevant laws and regulations [1]. - The proposal for the private placement of A-shares was passed unanimously with 5 votes in favor, 0 against, and 0 abstentions [2]. Group 2: Issuance Details - The company plans to issue domestic listed ordinary shares (A-shares) with a par value of RMB 1.00 per share [2]. - The issuance will be conducted through a competitive bidding process, with the issuance price set at no less than 80% of the average trading price over the 20 trading days prior to the pricing date [4][5]. Group 3: Target Investors - The target investors for the private placement include up to 35 specific investors such as securities investment fund management companies, securities companies, trust investment companies, financial companies, insurance institutional investors, qualified foreign institutional investors, and other domestic legal entities and individuals [3][6]. Group 4: Fundraising and Investment Plans - The total amount to be raised from the private placement is not to exceed RMB 450 million, with the net proceeds intended for projects including the development and industrialization of radiation-resistant modules for spaceborne computing processing equipment and multi-mode satellite communication SOC chips [7]. - The company will initially invest in these projects using self-raised funds before the proceeds from the private placement are available, and will adjust the investment priorities based on the actual amount raised [7]. Group 5: Shareholder Returns and Future Plans - The company has developed a three-year shareholder dividend return plan for 2025-2027 to enhance transparency and operational feasibility in profit distribution [10]. - The company will also report on the use of previously raised funds, ensuring compliance with relevant regulations [11].