Group 1 - The company plans to acquire Anhui SanZhu Intelligent Technology Co., Ltd. for a total consideration of no more than 270 million RMB, aiming to deepen its business development in industrial connectors and wiring harness components [1] - Anhui SanZhu, established in 2017, specializes in the R&D, production, and sales of connectors and wiring harnesses, serving major clients including Panasonic, Huichuan Technology, and Gree Intelligent Equipment [1] - As of December 31, 2024, Anhui SanZhu reported total assets of 185 million RMB, net assets of 94 million RMB, and an operating income of 209 million RMB with a net profit of 25 million RMB [1] Group 2 - The company has received approval for a targeted stock issuance to raise 1.215 billion RMB, with a total investment of 1.465 billion RMB aimed at enhancing its production capacity for high-end cables and components [2] - The company aims to establish dedicated production lines for photovoltaic and energy storage cables to meet increasing demand, as its current capacity in power cables and control cables has reached saturation [2] - The company is focusing on high-end flexible special cables for wind turbines, optical-electrical composite cables, and marine cables to cater to the growing needs in wind power and marine engineering sectors [2] Group 3 - The company is a leading player in the special cable market, with a focus on providing high-quality products for various sectors including aerospace, rail transportation, and renewable energy [3] - In the first half of 2025, the company reported a revenue of 2.19 billion RMB, with special cables contributing 1.1 billion RMB, accounting for approximately 50% of total revenue [3] - The company's total revenue has grown from 1.5 billion RMB in 2019 to 4.16 billion RMB in 2024, achieving a compound annual growth rate of 22.6% [3] Group 4 - The company is expanding into emerging fields such as commercial aerospace, humanoid robots, and controllable nuclear fusion [4] - In the commercial aerospace sector, the company is developing high-temperature flat cables and has made significant advancements in high-temperature conductor materials and radiation-resistant insulation technology [4] - The company has secured a 13.5 million RMB project with the China Institute of Atomic Energy for supplying special cables for nuclear reactors, indicating its commitment to the nuclear fusion sector [4]

Core Viewpoint - Hualing Cable has received approval from the Shenzhen Stock Exchange for its application to issue shares to specific investors, pending final approval from the China Securities Regulatory Commission (CSRC) [1] Summary by Relevant Sections Issuance Details - The total amount to be raised from the issuance is not more than 1.2149 billion yuan, with net proceeds after issuance costs allocated to various projects including new energy cable production and digital upgrades [1][2] - The issuance will involve no more than 35 specific investors, including the controlling shareholder Xianggang Group and the ultimate controlling shareholder Hunan Steel Group [2][3] Project Allocation - The funds will be allocated to the following projects: 1. New energy and electric cable production: 387.21 million yuan 2. High-end flexible special cable production: 286.41 million yuan 3. Comprehensive harness and component production: 249.93 million yuan 4. Digital upgrade and capability enhancement: 181.32 million yuan 5. Working capital: 360 million yuan - The total investment for these projects is approximately 1.4649 billion yuan [2] Shareholder Structure - Before the issuance, Xianggang Group holds 41.80% and Hunan Steel Group holds 6.66% of the company, with a combined control of 49.17% [4] - Post-issuance, Xianggang Group is expected to hold 35.00% and Hunan Steel Group 5.27%, maintaining the control structure without changes [5] Regulatory and Advisory Information - The issuance is sponsored by CITIC Securities, with representatives Luo Feng and Yao Weihua overseeing the process [6]