Core Viewpoint - The company Jingjin Electric (688280.SH) announced a plan to issue shares to specific investors, raising up to 115.90 million yuan to fund the industrialization of compact electric vehicle three-in-one drive systems [1][2]. Group 1: Share Issuance Details - The total investment for the compact electric vehicle three-in-one drive system project is 200 million yuan, with the company planning to use 115.90 million yuan from the share issuance [2]. - The issuance will target no more than 35 specific institutional investors, including securities investment funds, securities companies, trust companies, financial companies, insurance institutions, and qualified foreign institutional investors [2][3]. - The issuance price will be no less than 80% of the average trading price of the company's shares over the 20 trading days prior to the pricing date [3]. Group 2: Company Control and Financial Performance - As of the announcement date, the controlling shareholder, North Xiang New Energy, and actual controller Yu Ping, along with their concerted actors, control 59.36% of the voting rights, ensuring no change in control post-issuance [4]. - Since its IPO on October 27, 2021, the company has faced continuous net profit losses for four consecutive years, with net losses of 400 million yuan, 388 million yuan, 577 million yuan, and 436 million yuan from 2021 to 2024 [5][6]. - The company's total revenue for the reporting period in 2024 was 1.305 billion yuan, reflecting a year-on-year growth of 50.64% [5].

Core Viewpoint - The company, Jingjin Electric Technology Co., Ltd., is focusing on raising funds for the development of a compact three-in-one electric drive system for new energy vehicles, which aligns with the technological innovation sector and aims to enhance its production capacity and market competitiveness [1][3][11]. Group 1: Company's Main Business - Jingjin Electric is a leading domestic enterprise in the electric drive system for new energy vehicles, engaged in the research, production, sales, and service of electric drive systems [1][11]. - The company has mastered core technologies in drive motors, controllers, transmission assemblies, and related software, providing comprehensive technical solutions for electric drive systems [1][2]. Group 2: Main Products - The core product of the company is the electric drive system for new energy vehicles, characterized by high integration, high power density, high torque density, high reliability, high efficiency, and low noise levels [2][8]. - The electric drive system includes major assemblies such as drive motor assembly, controller assembly, and transmission assembly, which are essential for the operation of new energy vehicles [2][8]. Group 3: Fundraising Project Overview - The total investment for the compact three-in-one electric drive system project is 200 million yuan, with 115.9 million yuan sourced from the raised funds [2][10]. - The project aims to achieve an annual production capacity of 140,000 units of the compact three-in-one electric drive system after upgrading existing production lines [2][10]. Group 4: Necessity of Project Implementation - The development of the new energy vehicle industry is a strategic measure to combat climate change and achieve emission reduction goals, with significant growth in global sales, particularly in Europe, China, and the United States [3][11]. - The project will enhance the company's core product capabilities and meet increasing market demand amid rising competition in the new energy vehicle sector [3][4]. Group 5: Project Feasibility - The project aligns with national policies promoting the development of new energy vehicles and key technologies, which will positively influence the growth of the electric drive system industry [6][11]. - The company has a strong technical foundation and has established a global R&D team, which supports the feasibility of the project [8][11]. Group 6: Conclusion - The fundraising for the project is closely aligned with the company's existing business and is categorized under technological innovation, which is expected to enhance the company's innovation capabilities and strengthen its market position [12].

Group 1 - The company held its 24th meeting of the 3rd Board of Directors on July 11, 2025, with all 7 directors present, and the meeting complied with relevant laws and regulations [1] - The Board approved the proposal for the company to issue shares to specific targets using a simplified procedure, confirming that the company meets the necessary qualifications [2][3] - The share issuance will involve no more than 35 specific institutional investors, including qualified foreign institutional investors and other legal entities [2][3] Group 2 - The issuance price will be set at no less than 80% of the average trading price of the company's shares over the 20 trading days prior to the pricing date [3][4] - The total amount raised from the issuance will not exceed 115.9 million yuan, with the net proceeds allocated to the compact electric vehicle three-in-one electric drive system industrialization project [5] - The shares subscribed by the issuance targets will be subject to a six-month lock-up period post-issuance [6] Group 3 - The company plans to apply for the shares to be listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board [6] - The Board approved a report on the feasibility of using the raised funds, confirming that the funds will be directed towards technology innovation [9] - The company will establish a special account for the management and use of the raised funds, ensuring compliance with regulatory requirements [11]

Group 1 - The core viewpoint of the article is that Jing-Jin Electric Technologies Co., Ltd. is planning to issue shares to enhance its capital strength and profitability in response to the growing demand in the electric vehicle market, particularly in the context of global shifts towards new energy vehicles [1][4][26] - The global automotive industry is transitioning from traditional fuel vehicles to new energy vehicles, driven by technological advancements and climate change initiatives, with global sales of new energy vehicles reaching 14.303 million units in 2023, a year-on-year increase of 35.4% [1][2] - The company aims to leverage the increasing market demand for integrated electric drive systems, which are becoming the industry trend, to maintain its competitive edge and expand its market share in the new energy vehicle sector [3][4][5] Group 2 - The purpose of the share issuance is to raise up to RMB 115.9 million to fund the industrialization of compact new energy vehicle three-in-one electric drive systems, which will enhance the company's technological innovation capabilities and product competitiveness [6][12][20] - The issuance will involve a non-public offering of A-shares to a maximum of 35 qualified institutional investors, ensuring compliance with relevant regulations [8][10][16] - The pricing of the shares will be based on the average trading price over the 20 trading days prior to the pricing date, ensuring a fair valuation for investors [9][10] Group 3 - The company has made significant breakthroughs in its "big system" business, securing a contract with Stellantis Group for the compact new energy vehicle three-in-one electric drive system, marking its entry into the European market [5][21] - The company has a strong technical foundation, having developed a complete industrial layout for electric drive systems, and possesses advanced technology and patents in the field [21][22] - The company is committed to using the raised funds effectively, ensuring compliance with regulations, and enhancing shareholder value through strategic investments in its core business [25][26]