Core Viewpoint - Fengmao Co., Ltd. plans to issue convertible bonds to unspecified investors, with a total fundraising target of up to 610 million yuan, aimed at financing several projects and supplementing working capital [1][2][4]. Group 1: Convertible Bond Issuance - The convertible bonds will be issued at a face value of 100 yuan each and will be listed on the Shenzhen Stock Exchange's ChiNext board [1]. - The bonds will have a term of six years from the date of issuance, with the interest rate to be determined based on market conditions and company specifics [1][2]. - The initial conversion price will not be lower than the average trading price of the company's A-shares over the 20 trading days prior to the announcement [1][2]. Group 2: Fundraising Allocation - The total investment for the projects funded by the raised capital is approximately 690 million yuan, with 610 million yuan allocated from the bond issuance [3]. - The specific projects include: - Intelligent chassis thermal control system production base (Phase I) with a total investment of 600 million yuan, using 520 million yuan from the raised funds [3]. - Annual production of 8 million automotive hoses with a total investment of 65 million yuan, using 65 million yuan from the raised funds [3]. - Supplementing working capital with an allocation of 25 million yuan [3]. Group 3: Financial Performance - For the third quarter of 2025, the company reported a revenue of 242 million yuan, a year-on-year increase of 4.46%, while the net profit attributable to shareholders decreased by 31.06% to 24.45 million yuan [4][6]. - Year-to-date revenue reached 674 million yuan, reflecting a slight increase of 0.58%, but the net profit attributable to shareholders fell by 27.74% to 84.94 million yuan [5][6]. - The net cash flow from operating activities was reported at 28.49 million yuan, down 16.38% year-on-year [5][6].

Core Viewpoint - Fengmao Co., Ltd. plans to issue convertible bonds to raise up to 610 million yuan for three main projects, including the construction of an intelligent chassis thermal control system production base [1][2] Group 1: Fundraising and Project Allocation - The total amount to be raised from the convertible bonds is capped at 610 million yuan, with the net proceeds primarily allocated to three projects: 520 million yuan for the intelligent chassis thermal control system production base, 65 million yuan for the annual production of 8 million automotive hoses, and 25 million yuan for working capital [1] - The company has adjusted part of the previously planned IPO funds from the terminated "Jiaxing Auto Parts Production Base Project" to the "Intelligent Chassis Thermal Control System Production Base (Phase I) Project" [2] Group 2: Financial Performance - From 2022 to 2024, the company's revenue is projected to grow from 608 million yuan to 949 million yuan, while net profit attributable to shareholders is expected to increase from 102 million yuan to 162 million yuan [1] - For the first nine months of 2025, the company reported a revenue of 674 million yuan, reflecting a year-on-year growth of 0.58%, but net profit decreased by 27.74% to approximately 84.94 million yuan [1] Group 3: Project Investment Structure - The total investment for the intelligent chassis thermal control system production base project has been adjusted from 600.79 million yuan to 600.31 million yuan, with changes in the internal investment structure [2] - Land acquisition costs were reduced, while construction and basic reserve costs increased by approximately 41.24 million yuan, and working capital was adjusted down by 25.53 million yuan [2]

Core Viewpoint - Fengmao Co., Ltd. announced an adjustment to the investment amount and internal investment structure of its "Intelligent Chassis Thermal Control System Production Base (Phase I) Project" without changing the overall construction content, implementation entity, or method of the fundraising project [2] Group 1 - The second meeting of the second board of directors was held on November 3, 2025, where the adjustment proposal was approved [2] - The adjustment does not constitute a change in the fundraising project and does not require submission for shareholder meeting approval [2] - The sponsor institution has issued a consent verification opinion regarding the adjustment [2]

Core Viewpoint - Fengmao Co., Ltd. plans to issue convertible bonds to raise a total of up to 610 million yuan, with the net proceeds intended for investment in various projects and working capital [1] Group 1 - The company intends to invest in the construction of a smart chassis thermal control system production base (Phase I) project [1] - The funds will also be allocated to a project for the annual production of 8 million sets of automotive hoses [1] - Additionally, the raised funds will be used to supplement working capital [1]

Core Viewpoint - The company plans to issue convertible bonds to raise a total of no more than 610 million yuan, aimed at funding specific projects and supplementing working capital [1] Group 1: Fundraising Details - The total amount to be raised from the issuance of convertible bonds is capped at 610 million yuan [1] - The funds will be allocated to the construction of an intelligent chassis thermal control system production base (Phase I) project [1] - Additionally, the funds will support the construction of a project with an annual production capacity of 8 million automotive hoses [1] - A portion of the raised funds will also be used to supplement the company's working capital [1]

Group 1 - The company, Fengmao Co., Ltd. (301459.SZ), announced that it plans to raise a total of no more than 610 million yuan through the issuance of convertible bonds [1] - The raised funds will be allocated to the construction of an intelligent chassis thermal control system production base (Phase I) project and an annual production capacity of 8 million automotive hoses project, as well as to supplement working capital [1]

Core Viewpoint - Fengmao Co., Ltd. plans to issue convertible bonds to raise a total of no more than 610 million yuan, with the funds aimed at investing in various projects including a smart chassis thermal control system production base and an automotive hose production project [1] Group 1 - The company intends to issue convertible bonds to unspecified investors [1] - The total amount of funds to be raised is capped at 610 million yuan [1] - The initial conversion price will not be lower than the average trading price of the company's A-shares over the previous twenty trading days and the trading price of the previous day [1] Group 2 - The net proceeds from the fundraising, after deducting issuance costs, will be used for the smart chassis thermal control system production base (Phase I) project [1] - The funds will also support the construction of a project with an annual production capacity of 8 million automotive hoses [1] - Additionally, the funds will be used to supplement working capital [1]

Core Viewpoint - Fengmao Co., Ltd. (301459.SZ) plans to issue convertible bonds to raise a total of no more than 610 million yuan, which will be used for various projects and working capital [1] Group 1: Fundraising Details - The company intends to issue convertible bonds with a total fundraising amount not exceeding 610 million yuan, including the issuance costs [1] - The initial conversion price will not be lower than the average trading price of the company's A-shares over the twenty trading days prior to the announcement and the trading price on the previous trading day [1] Group 2: Investment Plans - The net proceeds from the fundraising, after deducting issuance costs, are planned to be invested in the production base for intelligent chassis thermal control systems (Phase I) [1] - Additionally, the funds will be allocated to the construction of a project with an annual production capacity of 8 million sets of automotive hoses [1] - A portion of the funds will also be used to supplement working capital [1]

Core Viewpoint - Fengmao Co., Ltd. has successfully acquired a state-owned land use right for 72.77 million yuan to build an "Intelligent Chassis Thermal Control System Production Base (Phase I)" project, marking a significant step in its capacity layout in the core components of the new energy vehicle sector [1] Group 1: Land Acquisition and Project Development - The acquired land will leverage the mature industrial ecosystem in the surrounding area, which is home to an automotive parts industry cluster, facilitating reduced production and logistics costs [1] - The company plans to invest no more than 1.5 billion yuan in the construction of the production base, with the land acquisition being a critical step from planning to implementation [1] Group 2: Financial Performance - In the first half of 2025, the company reported approximately 432 million yuan in revenue and about 60 million yuan in net profit, indicating a gradual recovery in operations [2] - In Q2 2025, revenue reached approximately 237 million yuan, reflecting a quarter-on-quarter growth of 20.78%, while net profit increased by 10.59% to around 32 million yuan [2] Group 3: Strategic Expansion - The establishment of the Intelligent Chassis Thermal Control Production Base is a key move for the company to expand into the automotive new business sector, with plans for a "dual-base linkage" capacity layout [2] - In addition to the new base in Yuyao, the company will also build a commercial vehicle parts production base in Jinan, focusing on core components for commercial vehicles [2] Group 4: Product Development - The company is accelerating the development of a diversified product matrix, including lightweight air spring products for passenger vehicles and thermal management components for electric vehicles [3] - A notable order of 170 million yuan has been secured from a well-known domestic automaker, covering a project cycle from 2025 to 2031, which supports stable revenue growth [3] Group 5: Growth Logic and Market Strategy - The company is focusing on its core transmission system business while expanding into international markets, with a new production base in Thailand set to begin operations in the second half of 2025 [4] - The domestic transmission system revenue for the first half of 2025 was approximately 170 million yuan, showing a year-on-year growth of 19.44%, highlighting the resilience of the main business [4] Group 6: Non-Automotive Sector Expansion - The company is actively exploring new growth points in non-automotive sectors, including partnerships in the low-altitude economy and rail transportation [5] - A dedicated robotics division has been established, with sales of transmission and sealing system components already initiated, indicating a multi-track growth strategy [5]

Core Viewpoint - The company has successfully acquired the land use rights for a state-owned construction site, which will support its strategic project in the production of intelligent chassis thermal control systems, enhancing its market competitiveness and industrial layout [1] Summary by Categories Acquisition Details - The company won the land use rights for the plot numbered 2025-29 for a total of RMB 72.77 million [1] - The agreement was signed with the Yuyao City Natural Resources and Planning Bureau [1] Project Relevance - The acquired land is designated for the company's fundraising project, specifically the "Intelligent Chassis Thermal Control System Production Base (Phase I)" [1] - This acquisition aligns with the company's operational development needs [1] Financial Impact - The funding for the land acquisition comes from the company's raised capital [1] - The transaction is not expected to have a significant adverse impact on the company's financial status or operational activities [1]