Core Viewpoint - LiuGao Co., Ltd. plans to issue shares to specific investors through a simplified procedure, raising up to 300 million RMB for a high-quality technology upgrade project in the 2800mm medium-thick plate sector [1][2][3] Fundraising Details - The total investment for the 2800mm medium-thick plate high-quality technology upgrade project is approximately 487.68 million RMB, with the company intending to use 30 million RMB from the fundraising [2] - The issuance will target no more than 35 specific investors, including qualified institutional investors such as securities investment fund management companies, securities companies, trust companies, and qualified foreign institutional investors [2][3] Issuance Process - The shares will be ordinary shares (A-shares) with a par value of 1.00 RMB each, and the issuance will be completed within ten working days after the China Securities Regulatory Commission (CSRC) registers the decision [3][4] - The issuance price will not be lower than 80% of the average trading price of the company's shares over the 20 trading days prior to the pricing date [3] - The total number of shares issued will not exceed 30% of the company's total share capital before the issuance, amounting to a maximum of 768,837,960 shares [3] Shareholder Structure - As of March 31, 2025, the major shareholders include Guangxi Liuzhou Iron and Steel Group Co., Ltd., holding 74.57% of shares, and Wang Wenhui, holding 8.45% [4][5] - The actual controller of the company remains the State-owned Assets Supervision and Administration Commission of Guangxi Zhuang Autonomous Region, and the issuance will not change the control of the company [5] Financial Performance - LiuGao Co., Ltd. expects a significant increase in net profit for the first half of 2025, projecting a net profit attributable to shareholders of approximately 340 million to 400 million RMB, representing a year-on-year increase of 530% to 641% [5] - The expected net profit after deducting non-recurring gains and losses is projected to be between 315 million and 375 million RMB, with a year-on-year increase of 729% to 887% [5]