Group 1: Core Insights - A-share companies are experiencing significant overseas expansion, with notable achievements in infrastructure, biomedicine, and equipment manufacturing, leading to large overseas orders [2][3] - The shift in Chinese enterprises' overseas strategy is moving from cost-driven to innovation-driven, leveraging advanced supply chains, international talent, and digital technologies [2] Group 2: Large Orders and Competitive Strength - A-share companies have secured substantial overseas contracts, particularly in the infrastructure sector, with notable projects including a $1.6 billion contract for a gas processing plant in Iraq and contracts totaling approximately 5.34 billion yuan for the China-Kyrgyzstan-Uzbekistan railway [3][4] - In the biomedicine sector, companies like Rongchang Bio are accelerating internationalization, exemplified by a licensing agreement with Vor Bio worth up to $4.1 billion [4] - Equipment manufacturing firms are also making strides, with agreements such as a $406 million contract for a conveyor system in Guinea, enhancing their international market presence [4] Group 3: Accelerated Overseas Capacity Layout - Several A-share companies are intensifying their overseas production capacity, viewing local production as a key driver for global competitiveness [6] - Companies like Linglong Tire are investing $1.193 billion in a production base in Brazil, aiming for an annual output of 14.7 million high-performance tires [6] - Other firms, such as North Special Technology and Zhongke Electric, are also establishing production bases in Thailand and Oman, respectively, to enhance their global supply chain [7] Group 4: Rising Trend of Overseas Mergers and Acquisitions - The number of disclosed overseas mergers and acquisitions by A-share companies has surpassed 60 in the first half of the year, with a focus on electronics, automotive parts, and machinery [9] - Companies are pursuing overseas acquisitions to enter emerging markets and enhance their technological capabilities, as seen with Dongshan Precision's dual acquisitions in the optical communication sector [9][10] - The strategy of overseas mergers and acquisitions is aimed at resource and market integration, with firms like Luoyang Molybdenum consolidating their overseas mineral resource reserves [10]

Fundraising Plan - The company plans to raise a total of 300 million yuan, with the net proceeds intended for specific projects after deducting issuance costs [1] - The main project is the construction of a 100,000-ton hydrocarbon-based biodiesel production facility, with a total investment of 380 million yuan and a construction period of two years [2][3] Project Necessity - The project aims to utilize waste oils, such as kitchen waste oil, to produce biodiesel, addressing environmental concerns and reducing reliance on limited petroleum resources [2][3] - The project aligns with national policies promoting the recycling of waste oils and the development of renewable energy sources [3][4] Project Feasibility - The project can flexibly adjust the output of HVO/SAF based on market demand, utilizing advanced biochemical technology for further processing [3][7] - The company has established a strong technical foundation and has been recognized as a national high-tech enterprise, with various research achievements in biodiesel technology [7][9] Market Outlook - The demand for HVO and SAF is expected to increase significantly due to global environmental concerns and regulations promoting the use of biofuels [7][8] - The company has developed extensive sales channels and partnerships in the international market, ensuring stable sales of its products [8][9] Technological and Talent Reserves - The company possesses a robust R&D team and has developed multiple patented technologies in biodiesel production, enhancing its competitive edge [8][9] - The company has built a comprehensive professional team in product development, production management, and quality control, ensuring the successful implementation of the fundraising project [9] Alignment with National Policies - The fundraising project aligns with national industrial policies that support the development of renewable energy and circular economy industries [9][10] - The project is categorized under strategic emerging industries, emphasizing its importance in the national energy strategy [9][10]

Core Viewpoint - The company is issuing shares to specific investors, which will dilute immediate returns for existing shareholders, and has outlined measures to mitigate this impact [1][5][12]. Group 1: Impact of Share Issuance - The company plans to issue 7,190,795 shares, increasing total shares from 120 million to 127,190,795 [2]. - The estimated net profit for 2025 is projected at 14,901.88 million, with three scenarios for profit changes: flat, a 10% decrease, and a 10% increase [2][4]. - The basic earnings per share (EPS) before and after the issuance under different scenarios are detailed, showing a potential decrease in EPS due to dilution [4][10]. Group 2: Project Necessity and Rationality - The funds raised will be used for a project to produce 100,000 tons of hydrocarbon-based biodiesel, with a total investment of 380 million [5][6]. - The project aims to utilize waste oils, contributing to environmental protection and resource conservation, aligning with national policies on sustainable development [6][10]. - The company has a strong technical foundation and market presence in the biodiesel sector, enhancing its competitive edge [11]. Group 3: Measures to Mitigate Dilution Impact - The company will implement strict management of the raised funds to ensure they are used effectively for the intended projects [12][13]. - Operational improvements will be pursued to enhance efficiency and profitability, including cost management and governance structure enhancements [13][14]. - A profit distribution policy will be refined to ensure fair returns to shareholders, particularly small investors, following the share issuance [14][15]. Group 4: Commitments from Company Stakeholders - The company's board and senior management have committed to ensuring the effectiveness of the measures to mitigate dilution impacts [15][16]. - The controlling shareholders have also made commitments to not interfere with the company's management and to protect shareholder interests [16].