Company Overview - Jiangsu Yawei Machine Tool Co., Ltd. is primarily engaged in three main businesses: metal forming machine tools, laser processing equipment, and intelligent manufacturing solutions, with metal forming machine tools being the largest revenue source [2][3] - The company has established a comprehensive sales service network, providing integrated hardware and software products to high-end clients such as Gree, CRRC, XCMG, Baowu Steel, and BYD, positioning itself as a leading supplier of digital, flexible, automated, and intelligent metal sheet processing solutions [3] Financial Performance - As of March 31, 2025, the total assets amounted to 457,958.08 million yuan, with total liabilities of 283,872.40 million yuan, resulting in shareholders' equity of 174,085.67 million yuan [4] - The operating revenue for the first quarter of 2025 was 46,706.58 million yuan, with a net profit of 3,067.38 million yuan. In comparison, the operating revenue for the entire year of 2024 was 205,739.36 million yuan, with a net profit of 4,802.74 million yuan [4][5] - The company has shown a trend of increasing sales revenue from 183,014.69 million yuan in 2022 to 205,739.36 million yuan in 2024, although net profit has fluctuated due to asset impairment and investment income [6][7] Market Position and Competitive Landscape - The company is recognized as a national manufacturing single champion for its bending machine products and has been awarded the title of "National Technology Innovation Demonstration Enterprise" [2] - The metal forming machine tool industry is experiencing increased competition from both domestic and international players, with notable foreign manufacturers establishing local production in China [5][6] - The company faces risks related to industry cyclicality, as demand for its products is closely tied to the macroeconomic environment and the investment trends in the manufacturing sector [5][6] Future Prospects and Capital Raising - The company plans to raise a total of 92,457.49 million yuan through a private placement of shares, which will be used for the construction of a second phase project for servo press machines and automated stamping lines, as well as to supplement working capital and repay bank loans [14][19] - The issuance of shares is subject to approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission, with the issuance price set at 7.28 yuan per share [14][19] Risk Factors - The company is exposed to various risks, including macroeconomic fluctuations, industry cyclicality, and competitive pressures, which could impact its operational performance and financial results [5][6][8] - Specific risks include potential declines in product prices due to increased competition, fluctuations in raw material costs, and challenges in managing accounts receivable and inventory [8][9][10]

Core Viewpoint - Jiangsu Yawen Machine Tool Co., Ltd. is applying for a specific object stock issuance and listing on the main board, with the underwriting by Huatai United Securities [2][3]. Group 1: Issuer Information - Jiangsu Yawen Machine Tool Co., Ltd. has a total share capital of 549,765,024 shares as of March 31, 2025 [6]. - The company engages in the export of self-produced products and technology, as well as the import of raw materials and equipment necessary for production [6]. Group 2: Financial Data - As of March 31, 2025, the total assets of the company are 457,958.08 million, with total liabilities of 283,872.40 million, resulting in shareholders' equity of 174,085.67 million [7]. - The company's operating income for the first quarter of 2025 is 46,706.58 million, with a net profit of 3,067.38 million [7]. Group 3: Fundraising and Use of Proceeds - The total amount to be raised from this issuance is 92,457.49 million, which will be used for the "Servo Press and Automation Stamping Line Phase II Project" and to supplement working capital and repay bank loans [27][28]. - The Servo Press and Automation Stamping Line Phase II Project aims to achieve an annual production capacity of 31,700 tons of large precision structural parts, enhancing the company's production capabilities [27]. Group 4: Underwriter Information - Huatai United Securities is the lead underwriter for this issuance, with representatives Zhou Mingjie and Yi Bojie responsible for the project [3][4]. - The underwriting team has extensive experience in IPO projects and refinancing, having participated in various significant projects [4]. Group 5: Compliance and Regulatory Aspects - The issuance complies with the relevant laws and regulations, including the Company Law and Securities Law, and has undergone necessary internal decision-making processes [19][20]. - The issuance price is set at 7.28 yuan per share, which meets the requirement of being no less than 80% of the average trading price over the previous 20 trading days [29].

Company Overview - Jiangsu Yawei Machine Tool Co., Ltd. is planning to issue 128,235,074 A shares, which will not exceed 30% of the total share capital before the issuance [2] - The issuance price is set at 7.28 RMB per share, which is 80% of the average trading price over the last 20 trading days prior to the pricing benchmark [2][3] - The funds raised will be used for the construction of the second phase of the servo press and automated stamping line project, to supplement working capital, and to repay bank loans [4] Shareholding Structure - After the issuance, Yangzhou Industrial Investment Development Group will become the largest shareholder with a voting power ratio of 19.09% [4][19] - The board of directors will be restructured, with Yangzhou Industrial Investment Development Group entitled to nominate or recommend 5 non-independent directors and 2 independent director candidates [19] - The issuance will lead to a change in control of the company, with Yangzhou Industrial Investment Development Group becoming the controlling shareholder and the actual controller being the Yangzhou State-owned Assets Supervision and Administration Commission [4][19] Industry Characteristics - The company operates primarily in the manufacturing sector, focusing on metal forming machine tools, laser processing equipment, and intelligent manufacturing solutions [19][24] - The metal forming machine tool business is the main source of revenue for the company, which is classified under the general equipment manufacturing industry [19][24] - The machine tool industry is considered the foundation of advanced manufacturing technology and plays a strategic role in national industrial development [21][24] Market Dynamics - The machine tool industry is experiencing a shift towards high precision and stability due to the upgrading of manufacturing processes [24] - Laser processing technology is gaining traction due to its cost-effectiveness and efficiency, making it a preferred choice in various industrial applications [24] - The demand for high-end equipment, including servo presses and automated systems, is expected to grow as industries seek to enhance productivity and automation [24]