华中数控（300161.SZ）历时两年的定增事项有了重大变化。 5月9日晚，华中数控发布定增修订稿。与此前多个定增版本相比，最新修订稿最大的区别是，公司控股股东卓尔智造不再参与此次定增认购。 其中，公司拟5亿元用于五轴数控系统及伺服电机关键技术研究与产业化项目（一期）；2.5亿元用于工业机器人技术升级和产业化基地建设项目（一期）； 2.5亿元用于补流。 当时公司推动定增事项的背景是，上一轮定增刚刚过去两年，公司股价2023年迎来暴涨行情，一路冲高至61.92%元，较2022年15.64元的低点，涨幅超过 300%。 由于大股东放弃低位定增认购，一定程度不符合其利益，引发市场关注。尽管公司声称大股东退出定增，主要是防范其海外业务被列入制裁名单的风险。但 背后也交织着降低监管审核难度加快定增落地、大股东背后"卓尔系"资金吃紧等多重因素。此番放弃定增认购，或是大股东的无奈之举。 2023年推行定增事项时，时值公司股价高点。但目前公司与市场环境俨然发生变化：2024年公司净利润亏损降幅高达304.37%，公司被列为美国列入SDN清 单，股价也被腰斩。加速定增落地成为当前公司能打出为数不多的一张"牌"。 三重原因交织下 ...

Core Viewpoint - The announcement details Wuhan Huazhong Numerical Control Co., Ltd.'s plan to issue A-shares to specific investors, highlighting the potential dilution of immediate returns and the measures to compensate for this dilution [1][4]. Financial Impact Analysis - The company plans to issue 41,726,349 shares, which will increase the total share capital from 198,696,906 to 240,423,255 shares post-issuance [2]. - The projected net profit for 2025 under three scenarios shows a decrease of 10%, remaining stable, and an increase of 10%, with corresponding impacts on earnings per share (EPS) [3][4]. - In the scenario where net profit decreases by 10%, the diluted EPS is projected to be -0.3065, while in the scenario of a 10% increase, it is projected to be -0.2073 [3]. Measures to Compensate for Dilution - The company intends to enhance its capital strength and risk resistance through effective use of raised funds, focusing on improving operational management and internal controls [5][6]. - Specific strategies include strengthening management innovation, improving governance structures, and ensuring effective use of raised funds to protect investor interests [6][7]. Commitments from Management - The board of directors and senior management have committed to fulfilling the measures to compensate for the dilution of immediate returns, with accountability for any losses incurred by investors due to non-compliance [8][9]. - The commitments include adherence to regulatory requirements and ensuring that the compensation measures are linked to the performance of the company [8][9]. Approval and Disclosure - The board has approved the analysis of the dilution impact and the compensation measures in previous meetings, with ongoing disclosures planned in regular reports [9].