Zhenjiang Co. planea una ampliación de capital que no supere los 1.000 millones de yuanes, que incluye 6 medidas regulatorias; el controlante ya ha cobrado en efectivo 300 millones de yuanes.

China Economic Network Beijing, April 1. Zhenjiang Co., Ltd. (603507.SH) disclosed 《2026年度向特定对象发行A股股票预案》 late yesterday evening. This private placement of shares to specific investors will raise a total amount of no more than 1B yuan (including this amount); after deducting issuance expenses, all proceeds are intended to be used for the industrialization project of core components for megawatt-scale offshore wind power generators, the green and intelligent casting project for 200k tons per year of wind power core components (Phase I), and replenishing working capital.

The share type for this private placement is RMB ordinary shares (A shares). Each share has a nominal value of RMB 1.00. All shares will be issued through a private placement to specific investors.

The issuance targets are no more than 35 persons (including 35 persons) who meet the conditions stipulated by the China Securities Regulatory Commission. All issuance targets will subscribe for the shares under this issuance in cash at the same price.

The number of shares to be issued under this private placement shall not exceed 30% of the company’s total share capital before this issuance, namely no more than 55,290,392 shares (including this amount).

The final issuance price will be determined, after this issuance has been approved by the SSE and after registration is agreed by the China Securities Regulatory Commission, based on the subscription price quotations of the issuance targets, through a bidding method following the principle of price priority, within the scope authorized by the shareholders’ meeting, in consultation with the board of directors of the company and the sponsor (lead underwriter), in accordance with relevant regulations.

As of the date of the announcement of the proposal, the targets for this issuance have not yet been determined. Whether there will be any related-party transaction situation arising from related parties subscribing for the shares of this private placement will be disclosed in the 《发行情况报告书》.

As of the date of the announcement of the proposal, the company’s controlling shareholder and actual controller are Mr. Hu Zhen and his wife, Bu Chunhua. The company’s actual controllers, Mr. Hu Zhen and his wife, Bu Chunhua, directly hold 36,977,129 shares of the company, representing 20.06% of the company’s total share capital; and indirectly control 9,054,107 shares of the company through Langwei Investment, representing 4.91% of the company’s total share capital. Mr. Hu Zhen and his wife, Bu Chunhua, together control 46,031,236 shares of the company, representing 24.98% of the company’s total share capital.

After completion of this issuance, the proportion of the company shares controlled by Mr. Hu Zhen and his wife, Bu Chunhua, will decrease somewhat, but will still remain the controlling shareholder and actual controllers of the listed company. This issuance will not result in any change in the company’s controlling rights.

Zhenjiang Co., Ltd. also disclosed the circumstances in the past five years where the company was subject to regulatory measures taken by securities regulatory authorities and the securities exchange.

(I) On October 15, 2021, the Shanghai Stock Exchange issued the 《关于对江苏振江新能源装备股份有限公司、控股股东、实际控制人暨时任董事长胡震及有关责任人予以通报批评的决定》（《2021》130号）；(II) On November 1, 2021, the Jiangsu Regulatory Bureau of the China Securities Regulatory Commission issued the 《江苏证监局关于对振江新能源装备股份有限公司的监管关注函》（Su Zheng Jian Han〔2021〕867号）；(III) On May 13, 2022, the Shanghai Stock Exchange issued the 《关于对江苏振江新能源装备股份有限公司及有关责任人予以监管警示的决定》（SSE Zheng Gong Jian Han〔2022〕0028号）；(IV) On June 13, 2022, the Jiangsu Regulatory Bureau of the China Securities Regulatory Commission issued the 《江苏证监局关于对江苏振江新能源装备股份有限公司的监管关注函》（Su Zheng Jian Han〔2022〕551号）；(V) On February 17, 2025, the Jiangsu Regulatory Bureau of the China Securities Regulatory Commission issued the 《江苏证监局关于对江苏振江新能源装备股份有限公司的监管关注函》（Su Zheng Jian Han〔2025〕192号）；(VI) On July 23, 2025, the Shanghai Stock Exchange issued the 《关于对江苏振江新能源装备股份有限公司时任监事董冰予以通报批评的决定》（《2025》152号）。

In addition, Zhenjiang Co., Ltd.’s announcement dated December 18, 2025 shows that as of December 17, 2025, Hu Zhen had reduced his company shareholding by 1,843,000 shares through centralized competitive bidding, and by 3,686,026 shares through block trading, totaling 5,529,026 shares; this share reduction plan has been fully implemented. From December 4, 2025 to December 17, 2025, Hu Zhen’s share reduction price range was from 21.42 yuan/share to 24.65 yuan/share, and the total amount of shares reduced was 200k yuan.

According to an article dated September 29, 2025 by Sina Finance, the data shows that Hu Zhen initially held 37.2896 million shares, accounting for 29.68% of the total share capital. Since September 30, 2021, Hu Zhen made his first reduction of Zhenjiang Co., Ltd.’s shares. Up to now, he has cumulatively reduced company shares by 5.5926 million shares, and has received cash proceeds of approximately 1.78 hundred million yuan.

Based on calculations, Hu Zhen has cumulatively received cash proceeds of 302 million yuan.

(Editor-in-charge: Wei Jingting)