Core Viewpoint - Jiangsu Benchuan Intelligent Circuit Technology Co., Ltd. has received approval from the Shenzhen Stock Exchange's Listing Review Committee for its issuance of convertible bonds, which will raise up to 469 million yuan for various projects and working capital [1][2]. Group 1: Fundraising Details - The total amount to be raised from the issuance of convertible bonds is not more than 46,900,000 yuan, which will be allocated to specific projects and working capital [1]. - The projects funded by the raised capital include: - Zhuhai Shuo Hong's annual production of 300,000 square meters of intelligent circuit products, with a total investment of 356.19 million yuan and planned funding of 334.54 million yuan [2]. - Benchuan Intelligent's PCB production base in Thailand, with a total investment of 237.58 million yuan and planned funding of 105.46 million yuan [2]. - Supplementing working capital with an investment of 29 million yuan [2]. - The total investment for all projects is 622.77 million yuan, with the raised funds covering 46.9 million yuan [2]. Group 2: Issuance and Underwriting - The convertible bonds will be convertible into the company's A-shares and will be listed on the Shenzhen Stock Exchange [2]. - The issuance method will be determined by the board of directors and/or authorized personnel in consultation with the sponsor (lead underwriter) according to relevant laws and regulations [2]. - The lead underwriter for this issuance is Northeast Securities Co., Ltd., with representatives Wang Dandan and Hang Lijun [3]. Group 3: Company Background - Benchuan Intelligent was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on August 5, 2021, raising a total of 621 million yuan, with a net amount of 561 million yuan after deducting issuance costs [3]. - The company initially planned to raise 374 million yuan for projects including the expansion of high-frequency, high-speed, multi-layer, and high-density PCB production lines, as well as R&D center construction and working capital [3].

Core Viewpoint - Zhuhai Suohong aims to achieve an annual production capacity of 400,000 square meters, with a focus on equipment investment, personnel recruitment and training, and supply chain development to meet this target [1] Group 1 - Benchuan Intelligent plans to invest in Zhuhai Suohong to establish a new production project with an annual capacity of 300,000 square meters for intelligent circuit products [1] - The construction period for the new project is estimated to be 2 years, during which new factory buildings and advanced production line equipment will be installed [1] - The project will integrate the company's information management system and will focus on creating an automated production environment that meets customer factory inspection standards [1]

Core Viewpoint - Benkwan Intelligent (300964) plans to issue convertible bonds to raise funds for various projects, including the construction of a smart circuit product production facility and a PCB production base in Thailand, as well as to supplement working capital [1][2]. Group 1: Convertible Bond Issuance - The convertible bonds will be issued at a face value of RMB 100.00 each, with a term of 6 years and an annual interest payment structure [1]. - The total amount to be raised from the bond issuance is capped at RMB 49 million, which will be allocated to specific projects and working capital [2][3]. - The initial conversion price for the bonds will be determined based on the average trading price of the company's A-shares over the 20 trading days prior to the announcement [2]. Group 2: Project Funding Allocation - The funds from the bond issuance will be allocated as follows: - Zhuhai Shuo Hong's smart circuit product production project: Total investment of RMB 35.62 million, with RMB 33.45 million from the bond proceeds [3]. - Benkwan Intelligent's PCB production base in Thailand: Total investment of RMB 23.76 million, with RMB 10.55 million from the bond proceeds [3]. - Supplementing working capital: RMB 5 million [3]. - The total investment for all projects amounts to RMB 64.38 million, with the bond proceeds covering RMB 49 million [3]. Group 3: Financial Performance - For the fiscal year 2024, the company reported a revenue of RMB 596.10 million, a year-on-year increase of 16.67% [5][6]. - The net profit attributable to shareholders reached RMB 23.74 million, reflecting a significant increase of 391.81% compared to the previous year [5][6]. - The net profit after excluding non-recurring gains and losses was RMB 16.97 million, up 351.81% year-on-year [5][6]. - The cash flow from operating activities was RMB 28.18 million, showing a decrease of 62.22% compared to the previous year [5][6].