Core Viewpoint - Hongjing Technology (301396) is planning to issue shares to specific investors, aiming to raise up to 128,994.60 million yuan for smart computing cluster construction and operational projects, as well as to supplement working capital [1][2][4][5] Trading Information Summary - On December 25, 2025, Hongjing Technology closed at 62.72 yuan, up 0.84%, with a turnover rate of 7.32%, trading volume of 55,700 shares, and a transaction amount of 349 million yuan [1] - The net inflow of main funds was 8.92 million yuan, while retail investors saw a net outflow of 28.02 million yuan [1][3] Company Announcement Summary - Hongjing Technology responded to the inquiry letter regarding its stock issuance, detailing the operational status of its smart city and computing service businesses, revenue structure changes, gross margin fluctuations, customer concentration, accounts receivable management, and the necessity and compliance of fundraising projects [1][4] - The company updated its application documents for the stock issuance, which requires approval from the Shenzhen Stock Exchange and registration by the China Securities Regulatory Commission [1][2][3] Fundraising Details - The fundraising will not exceed 128,994.60 million yuan, primarily for smart computing cluster construction and operational projects, and to supplement working capital [2][4][5] - The issuance will involve no more than 35 investors, with a price not lower than 80% of the average trading price over the previous 20 trading days [2][5] - The company has completed the necessary board and shareholder meeting procedures for the issuance [2][4]

Group 1 - The company, Hongjing Technology, announced on August 27 that it plans to issue up to 46.0553 million A-shares to no more than 35 specific investors, aiming to raise a total of no more than 1.354 billion yuan [1] - The net proceeds from the fundraising, after deducting issuance costs, will be used for the construction and operation of intelligent computing power clusters and to supplement working capital [1]