Group 1 - The company Chuangyitong (SZ 300991) announced on August 29 that it has received authorization from the 2024 annual general meeting to implement a simplified procedure for issuing shares to specific targets [1] - The share issuance plan was approved at the seventh meeting of the fourth board of directors held on August 29, 2025, with a maximum of 35 subscribers [1] - The issuance price will be no less than 80% of the average trading price of the company's shares over the 20 trading days prior to the pricing benchmark [1] Group 2 - The company aims to raise no more than 128 million yuan, which will be used for the production project of new energy precision connectors and structural components [1] - For the year 2024, the company's revenue composition is entirely from the connector industry, accounting for 100% [1] - As of the report date, the market capitalization of Chuangyitong is 6.3 billion yuan [1]

Core Viewpoint - Shenzhen Chuangyitong Technology Co., Ltd. plans to issue shares to specific investors through a simplified procedure in 2025, aiming to raise up to 1.28 billion RMB for the production of new energy precision connectors and structural components [2][19][22]. Group 1: Issuance Details - The issuance plan was approved by the board of directors on August 29, 2025, and requires approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission [2][21]. - The total amount to be raised is capped at 128 million RMB, with the net proceeds allocated entirely to the new energy precision connector and structural component production project [3][19][22]. - The issuance will involve no more than 35 specific institutional investors, including qualified foreign institutional investors and other legal entities [14][16]. Group 2: Project Purpose and Background - The project aims to enhance production capacity in response to the growing demand for new energy connectors, driven by the rapid growth of the new energy vehicle market [10][12][13]. - The Chinese government has implemented supportive policies for the electronic components industry, particularly for connectors, which are crucial for new energy vehicles [9][10][25]. - The company seeks to optimize its product structure and reduce reliance on traditional consumer electronics by expanding its presence in the new energy sector [12][23]. Group 3: Financial and Operational Impact - The project is expected to significantly increase the company's production capacity for new energy connectors, thereby improving revenue and profitability [12][13][22]. - The company plans to utilize advanced manufacturing equipment to enhance production precision and efficiency, which is critical for meeting the stringent requirements of the automotive industry [23][24]. - The funding will also support the development of a robust supply chain and customer relationships, ensuring the successful absorption of the new production capacity [26][27].

Group 1: Fundraising and Project Overview - The company plans to raise up to RMB 128 million through a private placement, with the net proceeds allocated entirely to the production of new energy precision connectors and structural components [1][14] - The total investment for the new energy precision connector and structural component production project is RMB 128.174 million, with the intended use of raised funds being RMB 128 million [1][6] - The project aims to enhance production capacity to meet the growing demand in the new energy sector, particularly in the context of increasing sales of new energy vehicles [5][6] Group 2: Industry Background and Market Demand - The connector industry is a key focus of national support, with policies promoting the development of electronic components, including connectors, in various sectors such as automotive and consumer electronics [1][2] - China's new energy vehicle sales have seen exponential growth, increasing from 1.3673 million units in 2020 to an estimated 12.8659 million units in 2024, reflecting an annual growth rate of 111.1% [2] - The complexity of new energy vehicles necessitates a higher demand for connectors, with each vehicle requiring over 800 connectors, thus driving the need for high-quality and reliable products [11][12] Group 3: Project Implementation and Necessity - The project is essential for expanding the company's production capacity to meet the increasing orders from high-quality clients in the new energy sector [7][8] - The company has established a solid foundation in the connector market, leveraging its experience in data storage and consumer electronics to grow its new energy product line [12] - The project will enhance the company's ability to respond to market demands and improve its competitive position in the rapidly evolving new energy vehicle market [9][10] Group 4: Technological and Competitive Advantages - The company emphasizes technological innovation and has accumulated significant experience in precision manufacturing, which is crucial for producing high-quality connectors [10] - The implementation of advanced manufacturing equipment and digital management systems will improve production stability and product quality [9][10] - The company has established strategic partnerships with well-known clients, which will facilitate market expansion and ensure the absorption of new production capacity [12]