Core Viewpoint - Zhenghe Industrial (003033.SZ) has announced a plan to issue A-shares to specific investors in 2025, aiming to raise up to 818 million RMB for various projects and working capital [1][2]. Group 1: Share Issuance Details - The share issuance will target no more than 35 qualified investors, including securities investment funds, securities companies, and qualified foreign institutional investors [1]. - The issuance price will not be lower than 80% of the average trading price over the 20 trading days prior to the pricing date [1]. - The total number of shares to be issued will not exceed 30% of the company's total share capital before the issuance, which is estimated to be up to 24.525 million shares based on the total share capital as of June 30, 2025 [2]. Group 2: Fund Utilization - The raised funds will be allocated to projects including agricultural machinery component expansion, garden tool chain system development, and integrated R&D for micro-chain systems, as well as to supplement working capital [2]. Group 3: Shareholder Structure - As of June 30, 2025, the total share capital of the company is 81.75 million shares, with the controlling shareholder, Kui Feng Holdings, holding 57.68% of the shares [3]. - The issuance will not change the control of the company, as the controlling shareholders and actual controllers will maintain their majority ownership post-issuance [3]. Group 4: Financial Performance - For the first half of 2025, the company reported a revenue of 905.14 million RMB, a year-on-year increase of 7.18%, and a net profit attributable to shareholders of 89.00 million RMB, up 49.13% [6][7]. - The net cash flow from operating activities reached 90.53 million RMB, reflecting a significant increase of 321.45% compared to the previous year [6][7].