Core Viewpoint - Jianghua Microelectronics (江化微) plans to raise up to 300 million RMB through a simplified procedure for a specific audience to fund a project for producing 37,000 tons of ultra-pure wet electronic chemicals and to supplement working capital [1][4]. Group 1: Fundraising Details - The total investment for the ultra-pure wet electronic chemicals project is approximately 28.88 billion RMB, with the entire amount of raised funds allocated to this project [3]. - The company will also use 1.12 billion RMB to supplement its working capital, bringing the total fundraising target to 30 billion RMB [3]. - The issuance will be directed towards specific institutional investors, not exceeding 35 participants, including securities investment fund management companies, securities firms, trust companies, financial companies, insurance institutions, and qualified foreign institutional investors [3][4]. Group 2: Issuance Process - The issuance will adopt a pricing inquiry method, with the issue price set at no less than 80% of the average trading price of the company's stock over the 20 trading days prior to the pricing date [3]. - The number of shares issued will be determined by dividing the total amount raised by the issue price, with a cap of 30% of the company's total share capital prior to the issuance [3][4]. - The issuance has been authorized by the company's 2024 annual general meeting and approved by the relevant state-owned asset supervision authority, pending approval from the Shanghai Stock Exchange and registration by the China Securities Regulatory Commission [4]. Group 3: Previous Fundraising Activities - Over the past five years, Jianghua Microelectronics has raised funds twice through private placements [5][6]. - In 2020, the company raised approximately 280 million RMB by issuing 8,787,878 shares at a price of 33.00 RMB per share, with a net amount of about 279 million RMB after deducting issuance costs [5]. - In 2022, the company raised around 646 million RMB by issuing 41,880,124 shares at a price of 15.43 RMB per share, with a net amount of approximately 639 million RMB after costs [6][7].

Group 1: Resumption and Suspension of Trading - Capcloud plans to acquire 70% stake in Nanning Taike, adding storage product-related business, and resumes trading [1] - Tailin Micro is planning to acquire equity in Shanghai Panqi Microelectronics through share issuance and cash payment, leading to trading suspension [1] Group 2: Mergers and Acquisitions - GoerTek intends to acquire 100% stake in Shanghai Aolai [2] - Chongqing Water plans to acquire 100% stake in Yujing Water for 354 million yuan [2] - Chengbang Co. plans to raise no more than 129 million yuan through a private placement for embedded storage chip expansion and SSD upgrade projects [2] Group 3: Share Transfers, Increases, and Buybacks - Chipone plans to transfer 5% stake from 6 shareholders [3] - Yangtze Power's controlling shareholder intends to increase holdings by up to 8 billion yuan [3] - China Merchants Jinling plans to repurchase shares worth 250 million to 400 million yuan [4] - JA Solar plans to repurchase shares worth 200 million to 400 million yuan, with a maximum price of 17.36 yuan per share [5] Group 4: Investments and Daily Operations - Kangyuan Pharmaceutical received clinical trial approval for new indications of Jinzhen Oral Liquid [6] - Jingwang Electronics plans to invest 5 billion yuan in expansion at its Zhuhai Jinwan base [7] - Huilv Ecology's subsidiary signed contracts for the construction of a production base for 4.5 million optical modules [7] - Qixiang Tengda's subsidiary plans to invest in a new high-performance catalyst material project with a total investment of 70 million yuan [7] - Jianghua Micro plans to invest 289 million yuan in a project for producing 37,000 tons of ultra-pure wet electronic chemicals annually [8] Group 5: Performance Changes - Kexin New Source reported a net profit of 17.604 million yuan in the first half, a year-on-year increase of 521% [9] - Far East Holdings reported a net profit of 144 million yuan in the first half, a year-on-year increase of 210.6% [10] - Anshuo Information reported a net profit of 11.8832 million yuan in the first half, a year-on-year increase of 182.65% [11] - Luoyang Molybdenum reported a net profit of 8.671 billion yuan in the first half, a year-on-year increase of 60% [12] - Tonghuashun reported a net profit of 502 million yuan in the first half, a year-on-year increase of 38.29%, and plans to distribute 1 yuan per share [13] - Hongyuan Electronics reported a net profit of 184 million yuan in the first half, a year-on-year increase of 52.96% [14] - Zhangjiang Hi-Tech reported a net profit of 36.9 million yuan in the first half, a year-on-year increase of 38.64% [16] - CRRC reported a net profit of 7.246 billion yuan in the first half, a year-on-year increase of 72.48%, and plans to distribute 1.1 yuan per share [16] - Zhaoyi Innovation reported a net profit of 575 million yuan in the first half of 2025, a year-on-year increase of 11.31% [16] - Shenkong Co. reported a net profit of 48.8379 million yuan in the first half, a year-on-year increase of 926% [16] - Silan Micro reported a net profit of 265 million yuan in the first half, compared to a loss of 24.924 million yuan in the same period last year [16]

格隆汇8月22日丨江化微(603078.SH)公布2025年度以简易程序向特定对象发行A股股票预案，本次发行 拟募集资金总额不超过人民币三亿元且不超过最近一年末净资产百分之二十，在扣除相关发行费用后的 募集资金净额将全部用于以下项目：年产3.7万吨超高纯湿电子化学品项目及补充流动资金。 ...

Meeting Overview - The fifth board meeting of Jiangyin Jianghua Microelectronics Materials Co., Ltd. was held on August 12, 2025, with all nine directors present, including independent directors participating via telecommunication [1]. Resolutions Passed - The board approved the 2025 semi-annual report and its summary, which will be disclosed on the Shanghai Stock Exchange [1]. - A profit distribution plan for the first half of 2025 was approved, proposing a cash dividend of 0.30 RMB per 10 shares (including tax), with no stock bonus or capital reserve transfer [2]. - The board approved the cancellation of the supervisory board and amendments to the company’s articles of association, pending shareholder meeting approval [3]. - The board approved the investment in a project to produce 37,000 tons of ultra-pure wet electronic chemicals annually, with details to be disclosed on the Shanghai Stock Exchange [5]. - The board confirmed that the company meets the conditions for a simplified procedure for issuing shares to specific investors [6]. - A proposal for a simplified share issuance plan for 2025 was approved, targeting no more than 35 specific investors, including qualified institutional investors [7]. - The issuance price will be based on the average trading price over the 20 trading days prior to the pricing date, with adjustments for any dividends or stock bonuses [8]. - The total amount to be raised from the issuance will not exceed 300 million RMB, representing no more than 20% of the company's net assets as of the end of the previous year [9]. - The board approved a three-year shareholder return plan for 2025-2027 to enhance transparency in profit distribution [15]. - A proposal to convene the first extraordinary general meeting of shareholders in 2025 was also approved [14].

Summary of Key Points Core Viewpoint The report details the fundraising activities and the utilization of proceeds by Jiangyin Jianghua Microelectronics Materials Co., Ltd., highlighting the amounts raised, the management of funds, and the economic benefits derived from the investment projects. Group 1: Fundraising Overview - The company raised a total of RMB 279,124,562.67 from a private placement of 8,787,878 shares at RMB 33.00 per share as approved by the China Securities Regulatory Commission [1] - In a subsequent fundraising round, the company raised RMB 646,210,313.32 from the issuance of 41,880,124 shares at RMB 15.43 per share, with a net amount of RMB 638,569,168.27 after deducting issuance costs [2] Group 2: Fund Management - The company established special accounts for the management of the raised funds in compliance with regulations, with a total balance of RMB 927,410,287.32 as of June 30, 2025 [3] - The company has utilized part of the idle funds for cash management, with a maximum of RMB 200 million authorized for investment in financial products [7] Group 3: Fund Utilization - The total amount of funds used from the 2020 fundraising was RMB 28,279.48 million, exceeding the total raised by RMB 367.02 million, primarily due to returns from cash management [4] - For the 2021 fundraising, the total amount used was RMB 64,412.20 million, with no changes in the intended use of funds [5] Group 4: Economic Benefits - The investment projects funded by the previous fundraising rounds have not yet achieved the expected economic benefits due to market demand fluctuations in the downstream industries [6] - The company reported that the projects are still in the ramp-up phase and have not yet reached their full production capacity [6] Group 5: Idle Funds and Cash Management - The company has engaged in cash management with idle funds, ensuring that the balance does not exceed the authorized limits set by the board [8] - As of February 28, 2023, the company approved the use of surplus funds from the 2020 fundraising for permanent working capital, amounting to RMB 16.6056 million [9]

Investment Project Overview - The company plans to invest in a project to produce 37,000 tons of ultra-pure wet electronic chemicals annually, with an estimated investment of 288.83 million yuan [1][2] - The project aims to establish a large manufacturing base for high-end wet electronic chemicals, meeting SEMI G5 standards, and includes a recycling system for wet electronic chemicals [1][3] - The project will enhance the company's capacity to meet the demands of semiconductor clients, specifically for wafer manufacturing processes ranging from 8 to 12 inches and 10nm to 16nm [1][3] Financial Details - The total investment for the new project is projected at 288.83 million yuan, with fixed asset investment of 100 million yuan [1][2] - The company has also signed an investment agreement for an additional project with a total investment of 178.8 million yuan, focusing on producing ultra-pure wet electronic chemicals [2][3] - As of June 30, 2025, the company's total assets were 1.19 billion yuan, with a net asset value of 832.56 million yuan [4] Company Background - Jiangyin Jianghua Microelectronics Materials Co., Ltd. is a wholly-owned subsidiary of Jiangyin Jianghua Microelectronics Materials Co., Ltd., established on July 6, 2017 [4] - The company specializes in the production and research of specialized chemical products, including hazardous chemicals, and has a registered capital of approximately 777.78 million yuan [4] Strategic Importance - The investment aligns with the company's strategic development needs and market outlook, enhancing its capacity layout and industry position [5] - The project is expected to improve production efficiency, reduce costs, and increase product competitiveness without harming the interests of the company and its shareholders [5] Environmental and Social Impact - The project incorporates measures to manage waste emissions, ensuring compliance with national environmental standards [3][7] - It is anticipated that the project will create job opportunities, contributing positively to the local economy [3][5]

Core Viewpoint - Jiangyin Jianghua Microelectronics Materials Co., Ltd. has successfully completed the verification report on the use of previously raised funds, confirming compliance with regulatory requirements and accurately reflecting the fund usage as of June 30, 2025 [1][2]. Fundraising and Storage - In 2020, the company raised a total of RMB 279,124,562.67 by issuing 8,787,878 shares at RMB 33.00 per share, with all funds received by November 17, 2020 [2]. - In 2021, the company raised RMB 646,210,313.32 by issuing 41,880,124 shares at RMB 15.43 per share, with net funds of RMB 638,569,168.27 after deducting issuance costs [2][3]. - As of June 30, 2025, the total amount of raised funds stored in designated bank accounts was RMB 927,410,287.32 [3]. Fund Usage - The company has not changed the actual investment projects funded by the previously raised funds [3]. - In 2020, the company used RMB 41,142,600 to replace self-raised funds for projects, specifically for the production of ultra-pure wet electronic chemicals [4]. - For the 2021 fundraising, there were no transfers or replacements of previously invested projects [5]. Project Performance - The projects funded by the previous fundraising have not achieved the promised returns, particularly the project for producing 30,000 tons of ultra-pure wet electronic chemicals, which has not yet reached its expected output due to market demand fluctuations [5]. - The company has confirmed that all investment projects can be individually accounted for in terms of benefits [5]. Idle Fund Management - The company has approved the use of up to RMB 200 million of idle funds for cash management, ensuring it does not affect the progress of fundraising projects [6][7]. - As of January 2023, the company has engaged in various cash management activities, including structured deposits and investment products, yielding a total return of RMB 1,282,706.63 [9].