Core Points - Jiangsu Sop (600746) closed at 7.62 yuan on November 14, 2025, up 1.46% from 7.51 yuan the previous week [1] - The company's current market capitalization is 8.899 billion yuan, ranking 24th in the chemical raw materials sector and 2122nd in the A-share market [1] Company Announcements - Jiangsu Sop has completed maintenance and resumed production of methanol, acetic acid, and ethyl acetate as of November 10, 2025 [3] - The company received an inquiry letter from the Shanghai Stock Exchange regarding its application for a specific issuance of A-shares, which is still subject to approval and registration by the China Securities Regulatory Commission [1][3] - The fundraising project for "Acetic Acid Vinyl and EVA Integration Project (Phase I)" aims to raise no more than 1.5 billion yuan for capital expenditures, with an internal rate of return of 12.64% and a payback period of 8.57 years [2] Regulatory Issues - Subsidiaries of Jiangsu Sop have faced five administrative penalties related to safety management and hazardous materials, which have been rectified and do not constitute significant legal obstacles for the current issuance [2]

Core Viewpoint - Jiangsu Sopo (600746.SH) reported a decline in both revenue and net profit for the first half of 2025, leading to a drop in stock price and market capitalization [1] Financial Performance - The company announced a revenue of 3.158 billion yuan for the first half of 2025, a year-on-year decrease of 1.08% [1] - Net profit for the same period was 102 million yuan, reflecting a year-on-year decline of 13.01% [1] Capital Market Activity - Jiangsu Sopo will not distribute interim profits or increase share capital from capital reserves [1] - The company has proposed a plan to issue A-shares to specific investors in 2025, aiming to raise no more than 1.5 billion yuan for the first phase of its integrated ethylene acetate and EVA project [1] - This move follows a previous non-public offering in 2021 that raised 999 million yuan, indicating a continued strategy to enhance its core business through capital market activities [1]

Core Viewpoint - Jiangsu Sop (600746.SH) has announced a plan to issue A-shares to specific investors in 2025, aiming to raise funds for its integrated ethylene acetate and EVA project [1][2]. Group 1: Issuance Details - The issuance will target no more than 35 specific investors, including qualified institutional investors and individuals [1]. - The pricing for the shares will be set at no less than 80% of the average stock price over the 20 trading days prior to the issuance [1]. - The total number of shares to be issued will not exceed 30% of the company's total share capital before the issuance, amounting to a maximum of 350,352,865 shares [2]. Group 2: Fund Utilization - The total amount to be raised from this issuance is capped at 150 million yuan, which will be allocated to the ethylene acetate and EVA integrated project (Phase I) [2][3]. - The total investment for the ethylene acetate and EVA integrated project is estimated at 322.59 million yuan, with the funds raised covering a significant portion of this amount [3]. Group 3: Corporate Structure and Control - There will be no change in the controlling shareholder of the company post-issuance, with the direct controlling shareholder remaining Sop Group and the indirect controlling shareholders being Zhenjiang Urban Construction and Zhenjiang City Investment [3]. - The actual controller of the company continues to be the State-owned Assets Supervision and Administration Commission of Zhenjiang Municipal Government [3]. Group 4: Previous Fundraising Activities - The company previously raised 993 million yuan through a non-public issuance of shares, with a net amount of 984.07 million yuan after deducting issuance costs [4]. - The company has also engaged in other fundraising activities, including a plan to raise up to 40 million yuan for asset acquisitions [5]. Group 5: Financial Performance - For the first half of 2025, the company reported revenue of 3.158 billion yuan, a year-on-year decrease of 1.08%, and a net profit attributable to shareholders of 102 million yuan, down 13.01% [6]. - The net cash flow from operating activities increased by 77.59% to 276 million yuan during the same period [6].

Group 1 - The company Jiangsu Sopo (600746.SH) announced a plan to issue shares to specific investors, aiming to raise a total of no more than 1.5 billion yuan (including the principal) [1] - The net proceeds from the fundraising, after deducting issuance costs, will be used for the integrated project of vinyl acetate and EVA (Phase I) [1]

Core Viewpoint - Jiangsu Sopo announced a plan to issue shares to specific investors, aiming to raise up to 1.5 billion yuan for its integrated acetic acid and EVA project, with a total investment of approximately 3.226 billion yuan [3] Group 1: Financial Performance - For the year 2024, Jiangsu Sopo's revenue composition is as follows: sales of chemical products account for 99.11%, while other businesses account for 0.89% [1] Group 2: Share Issuance Details - The company plans to issue shares to no more than 35 specific investors, with the total number of shares not exceeding 30% of the company's total share capital prior to the issuance, which is approximately 350 million shares [3] - The issuance price will not be lower than 80% of the average stock price over the 20 trading days prior to the pricing benchmark [3] - The funds raised will be specifically allocated to the first phase of the integrated acetic acid and EVA project [3]