Introducing state-owned controlling shareholder Jiangsu Yawei Machine Tool (002559.SZ) plans to make a private placement to Yangzhou Chanfa Group to raise 934 million yuan.

Jiangsu Yawei Machine Tool (002559.SZ) disclosed a plan to issue A-shares to specific entities in 2025. The recipient of this issuance is Yangzhou Industrial Investment Development Group Co., Ltd. ("Yangzhou Industrial Development Group"), which intends to subscribe to all 128 million A-shares with cash. The issuance price of the stocks is 7.28 yuan per share, aiming to raise a total of 934 million yuan. The funds raised, after deducting issuance expenses, will be used for the construction of the second phase of servo press machines and automatic stamping lines production project, as well as for supplementary working capital and repayment of bank loans. As of the announcement date of the plan, the company has no controlling shareholder or actual controller. Assuming that the total share capital of the company remains unchanged from the date of the issuance resolution announcement to the issuance date, after the completion of this issuance, Yangzhou Industrial Development Group will hold 128 million shares of the company, accounting for 18.91% of the company's shares after the issuance. In combination with the provisions of the "Cooperation Framework Agreement" regarding the re-election of the company's board of directors, Yangzhou Industrial Development Group will become the controlling shareholder of the company, and Yangzhou State-owned Assets Supervision and Administration Commission will become the actual controller of the company.