Core Viewpoint - Zhejiang Zhengyu Industrial Co., Ltd. is planning to issue A-shares to raise up to 450 million yuan for the "Zhengyu Intelligent Manufacturing Park (Phase II)" project and to supplement working capital [1][3]. Company Announcements - The company has received acceptance from the Shanghai Stock Exchange for the stock issuance, which still requires approval from the China Securities Regulatory Commission [1][3]. - The issuance will target no more than 35 specific investors, with the issuance price set at no less than 80% of the average trading price over the 20 trading days prior to the pricing date [1]. Financial Performance - For the fiscal year 2024, the company reported a total revenue of 2.30 billion yuan, with export sales accounting for 82.22% of total revenue [2][3]. - In the first half of 2025, the company generated a revenue of 1.36 billion yuan, with a net profit attributable to the parent company of 11.85 million yuan [2][3]. - The company's inventory value stands at 603.73 million yuan, with a provision for inventory impairment of 68.55 million yuan [2]. Shareholder Structure - The controlling shareholder is Zhengyu Investment, with actual control held by Zheng Liansong, Zheng Nianhui, and Zheng Lianping [3].

Core Viewpoint - The company plans to issue A-shares to specific investors, aiming to raise up to 450 million yuan for its projects and working capital [1][2]. Group 1: Issuance Details - The issuance will target no more than 35 specific investors, including various financial institutions and qualified investors [1]. - The shares will be priced at no less than 80% of the average trading price over the 20 trading days prior to the pricing date [1]. - The total number of shares issued will not exceed 30% of the company's total shares before the issuance, amounting to a maximum of 72,009,980 shares [2]. Group 2: Fund Allocation - The total investment for the Zhengyu Intelligent Manufacturing Park (Phase II) is 430.93 million yuan, with 360 million yuan planned to be raised from this issuance [3]. - An additional 90 million yuan is allocated for supplementing working capital, bringing the total planned fundraising to 450 million yuan [3]. Group 3: Control and Ownership - As of June 30, 2025, the actual controllers of the company, the Zheng brothers, hold 145.76 million shares, representing 60.73% of the total shares [3]. - Post-issuance, their control will decrease to 46.71%, but they will remain the actual controllers of the company [3]. Group 4: Previous Issuance Context - The company previously announced the termination of a simpler issuance process for 2024 due to non-compliance of the hired securities service institution [4]. - The earlier plan aimed to raise up to 250 million yuan for the Zhengyu Intelligent Manufacturing Park project [4]. Group 5: Financial Performance - The company anticipates a significant increase in net profit for the first half of 2025, projecting approximately 118.36 million yuan, a 420.05% increase year-on-year [6]. - The expected net profit after excluding non-recurring gains and losses is around 68.69 million yuan, reflecting a 268.62% increase compared to the previous year [6].