Core Viewpoint - Jiangbolong (301308.SZ) plans to raise up to 3.7 billion yuan through a private placement of A-shares to support its business expansion in AI high-end storage and main control chips [1][3]. Summary by Sections Fundraising Details - The company intends to issue no more than 126 million shares, accounting for up to 30% of the pre-issue total share capital, with a fundraising target of no more than 3.7 billion yuan [3]. - The issuance will be directed towards no more than 35 qualified institutional and other investors, with the share price set at no less than 80% of the average trading price over the 20 trading days prior to the pricing date [3]. Allocation of Funds - The raised funds will be allocated to four main areas: 1. 880 million yuan for AI high-end storage research and industrialization projects [3]. 2. 1.22 billion yuan for semiconductor storage main control chip series research projects [3]. 3. 500 million yuan for high-end packaging and testing construction projects [4]. 4. 1.1 billion yuan for working capital to support business expansion [4]. Project Investments - The high-end storage research project has a total investment of 930 million yuan, focusing on enterprise-level SSDs and RDIMM memory modules for AI applications [3]. - The main control chip project has a total investment of 1.28 billion yuan, targeting SoC architecture design and firmware algorithm development for various storage technologies [3]. - The high-end packaging and testing project has a total investment of 540 million yuan, aimed at enhancing the company's packaging and testing capacity for embedded storage and SSD products [4]. Company Performance - In the first three quarters of the year, Jiangbolong achieved revenue of 16.734 billion yuan, a year-on-year increase of 25.12%, and a net profit attributable to shareholders of 712 million yuan, up 27.95% year-on-year [4]. - After the issuance, the total share capital will increase to approximately 545 million shares, with the actual controllers' combined shareholding ratio decreasing from 42.17% to 32.44% [4].

Core Viewpoint - The company plans to issue up to 125.7 million shares to raise no more than 3.7 billion yuan for projects related to high-end storage development and semiconductor storage control chips, aiming to enhance its competitiveness in the AI market [2][3]. Group 1: Fundraising and Project Allocation - The company intends to raise a total of 3.7 billion yuan, with 8.8 billion yuan allocated for high-end storage development, 12.2 billion yuan for storage control chip projects, and 5 billion yuan for high-end packaging and testing projects [2][3]. - The high-end storage project will focus on developing enterprise-level SSDs and RDIMM memory for servers, as well as high-end consumer SSDs and DIMMs for AI applications [2]. - The storage control chip project will involve the design and development of high-performance chips for various storage technologies, enhancing the company's full-stack storage solution capabilities [3]. Group 2: Financial Performance and Growth - The company reported revenues of 8.33 billion yuan, 10.12 billion yuan, 17.46 billion yuan, and 16.73 billion yuan from 2022 to the third quarter of 2025, achieving a compound annual growth rate of 44.79% [3]. - The company has expanded its business from basic storage to include control chip design and integrated circuit design, indicating a strategic shift towards higher value-added products [3].