Fundraising Plan - The company plans to raise a total of up to 875.70 million yuan through a private placement of A-shares, with the funds allocated to various projects including CMI component upgrades, DPC intelligent production line upgrades, MLCC production line upgrades, and working capital replenishment [1][2][23]. CMI Component Upgrade Project - The CMI component upgrade project has a total investment of 230 million yuan, with 190.80 million yuan sourced from the raised funds. The project aims to enhance automation, intelligence, and flexibility in production to meet the demands of next-generation CMI products and improve production efficiency [2][3][4]. - The project is expected to alleviate capacity bottlenecks as the current CMI production line is operating at full capacity, necessitating an expansion to meet existing and new customer demands [3][4]. - The upgrade will also enable the company to respond to the growing market for high-end smartphone components, particularly in the OIS and periscope lens markets, which are expected to penetrate the mid-range smartphone segment [5][6]. DPC Intelligent Production Line Upgrade Project - The DPC project has a planned investment of 180 million yuan, with 170.50 million yuan from the raised funds. It focuses on upgrading the production line to enhance automation and flexibility, thereby supporting the growth of ceramic products [8][9]. - The project aims to transition the company’s electronic ceramics towards high-value products, addressing the increasing demand in the market and enhancing overall business growth potential [9][10]. MLCC Production Line Upgrade Project - The MLCC project plans to invest 350 million yuan, with 254.40 million yuan from the raised funds. This project is crucial for increasing the production capacity and improving the quality of high-capacity MLCC products [14][15][21]. - The project aligns with national policies supporting the development of electronic components, aiming to reduce reliance on imports and enhance domestic supply capabilities [17][18]. - The global MLCC market is projected to grow significantly, driven by demand from sectors such as automotive electronics and 5G communications, providing a favorable environment for the project [19][20]. Working Capital and Debt Repayment - The company intends to use part of the raised funds to replenish working capital and repay bank loans, addressing the financial pressures arising from rapid business expansion [22][24]. - This financial strategy aims to optimize the capital structure, reduce the debt ratio, and enhance the company's risk resilience [22][24]. Overall Impact - The fundraising and associated projects are expected to strengthen the company's market position, enhance its competitive edge, and improve financial stability, ultimately benefiting shareholders [23][24].

Core Viewpoint - The company is focusing on the development of its ceramic substrate business and aims to enhance its market presence in the electronic ceramics sector while addressing challenges in its MLCC business and overall profitability [2][4][8]. Group 1: Business Development - The company has successfully mass-produced and started supplying high thermal conductivity ceramic electronic circuit substrates to leading enterprises in the laser industry [2]. - The pre-fabricated gold-tin ceramic heat sink products have received positive market feedback and high recognition from customers [3]. - The company plans to optimize its resources by focusing on core businesses such as consumer electronics, automotive electronics, and electronic ceramics, while reducing investments in non-core semiconductor lead frame businesses [4]. Group 2: Financial Performance - In 2024, the company achieved total operating revenue of 560.77 million yuan, a year-on-year increase of 6.83%, but reported a net loss attributable to shareholders of 123.95 million yuan, with losses decreasing by 1.74% year-on-year [8]. - The first quarter of 2025 saw a significant decline in revenue, with main income of 100 million yuan, down 29.03% year-on-year, and a net profit of -52.22 million yuan, down 71.66% year-on-year [11]. Group 3: Strategic Initiatives - The company is implementing measures to reduce costs and improve efficiency in its MLCC business, including optimizing production processes and enhancing supply chain management [6]. - The company is focusing on R&D investments, particularly in the MLCC field, to drive future business growth and enhance market competitiveness [7]. - The company aims to leverage the growing domestic and international markets for automotive electronics and electronic ceramics to create new growth points [9][10].