Core Viewpoint - Huicheng Environmental Protection has received approval from the Shenzhen Stock Exchange for its application to issue shares to specific investors, pending final registration approval from the China Securities Regulatory Commission (CSRC) [1] Summary by Relevant Sections Issuance Details - The company plans to raise a total of up to 850 million yuan (approximately 85 million) through this issuance, which will be allocated to various projects including the general industrial solid waste treatment project and environmental resource utilization project in the Jieyang Dannan Sea Petrochemical Industrial Zone, as well as to supplement working capital [1][2] - The total investment for the projects is approximately 1.1586862 billion yuan (approximately 115.87 million), with specific allocations of 376.67 million for the solid waste treatment project, 532.0162 million for the resource utilization project, and 250 million for working capital [2] Investor Participation - The issuance will target no more than 35 specific investors, including qualified institutional investors such as securities investment fund management companies, securities companies, trust companies, financial companies, insurance institutions, and qualified foreign institutional investors [2] - All participating investors will subscribe to the shares using cash in RMB at a unified price [2] Pricing and Share Quantity - The issuance will adopt a pricing method based on an inquiry system, with the final price set at no less than 80% of the average trading price over the 20 trading days prior to the pricing date [3] - The number of shares issued will be determined by dividing the total raised funds by the issuance price, not exceeding 30% of the company's total share capital after excluding treasury shares, which amounts to a maximum of 58,197,099 shares [4] - The actual controlling shareholder, Zhang Xinkong, will not subscribe to the new shares, maintaining control with a reduced stake of 33.38% post-issuance [4] Underwriting and Regulatory Process - The underwriting for this issuance is handled by Zhongde Securities Co., Ltd., with designated representatives overseeing the process [4]