Core Viewpoint - The company plans to raise a total of up to 480 million yuan through a private placement of A-shares, with the net proceeds allocated to a lightweight vehicle display component project and to supplement working capital [2][4]. Fundraising Details - The total investment for the lightweight vehicle display component project is 616.52 million yuan, with 380 million yuan expected to be funded from the raised capital [3]. - An additional 100 million yuan will be allocated to supplement working capital, bringing the total planned use of raised funds to 480 million yuan [3]. Issuance Structure - The issuance will target no more than 35 specific investors, including various financial institutions and qualified investors, with all subscriptions made in cash at the same price [4]. - The pricing benchmark for the issuance will be set at 80% of the average trading price of the company's shares over the 20 trading days prior to the issuance date [4]. - The shares will be ordinary A-shares with a par value of 1.00 yuan, and the number of shares issued will not exceed 30% of the company's total share capital prior to the issuance [4]. Shareholding and Control - As of the date of the fundraising document, Watanabe Yoichi holds 124.58 million shares, representing a 58.53% stake, maintaining his position as the controlling shareholder and actual controller of the company post-issuance [5]. - The issuance will not result in any change in the company's control [5]. Sponsorship - CITIC Securities is the sponsor for this issuance, with designated representatives Li Junyi and Lin Zhenwei overseeing the process [5].

Core Viewpoint - The company, Weishi Electronics, is responding to inquiries from the Shanghai Stock Exchange regarding its fundraising and investment projects, particularly focusing on the new lightweight vehicle display components project and its differentiation from previous projects [1][2]. Group 1: Fundraising and Project Details - Weishi Electronics is planning to build production capacity for 4.33 million lightweight structural components and 1.85 million new vehicle backlight display modules [2]. - The company has previously faced delays in its backlight display module and smart display component expansion project, with completion now expected by October 2025 [2]. - The new fundraising project emphasizes Mini-LED and large-screen technology, representing a technological upgrade compared to previous projects, rather than a simple replication [2][3]. Group 2: Production Capacity and Market Demand - The company has already achieved a certain scale of mass production for Mini-LED and large-screen display modules, with core technologies and production processes validated by downstream customers [3]. - The total expected demand for the projects that have received notification letters is approximately 40.15 million units, with an estimated annual contribution of 8.03 million units, covering 65.29% of the new production capacity for vehicle backlight display modules [5]. - The company is addressing the demand for lightweight structural components by transitioning from external procurement to in-house production, with several lightweight structural components already in mass production [5][6]. Group 3: Regulatory Concerns and Market Position - The Shanghai Stock Exchange has raised concerns regarding the rationality of the new production capacity, asking the company to explain the relationship between existing and new capacities, utilization rates, market competition, and order status [4]. - The company anticipates that the lightweight structural components will support the production capacity of the new investment project, with a projected annual increase of approximately 4 million lightweight structural components based on a 50% penetration rate in future projects [6].

Core Viewpoint - Weishi Electronics has restarted its fundraising plan for vehicle display components after terminating its previous convertible bond issuance, focusing on technological upgrades in its new projects [1][2][3]. Group 1: Fundraising and Project Details - The company plans to raise up to 480 million yuan through a private placement to fund the "lightweight vehicle new display component project" and to supplement working capital [2]. - The new project aims to increase production capacity by 4.33 million lightweight structural components and 1.85 million new vehicle backlight display modules [2]. - The products planned for this fundraising project are already in mass production and closely related to the company's main business of backlight display modules [2][4]. Group 2: Previous Convertible Bond Issuance - The company had previously attempted to issue convertible bonds but withdrew the application in April 2024 due to changes in the macro environment and adjustments in capital operation planning [3]. - The initial application for the convertible bonds was submitted in 2023 but faced multiple inquiries from the Shanghai Stock Exchange regarding project delays and feasibility [3][4]. Group 3: Project Delays and Reasons - The previous fundraising project, which included the expansion of backlight display modules, has faced multiple delays, with completion now expected by October 2025 [4][5]. - The delays were attributed to the need for additional space and equipment to accommodate larger display sizes, which required the acquisition of new land and construction of facilities [5]. - As of April 2025, the project has signed procurement contracts totaling 341 million yuan, with 77.85% of the raised funds already utilized [6].