Avary Holding plans A-share issuance to raise up to 9.6 billion RMB for AI project

Today's market saw significant developments, particularly in capital raising and restructuring efforts among various companies. Avary Holding (Shenzhen) Co., Ltd. is set to issue A-shares to specific investors, while ST Longda Co., Ltd. is actively seeking restructuring investors to address its financial challenges.

Earnings & Performance

• Shenzhen Zhongjin Lingnan Nonfemet Co., Ltd. (000060) forecasts a substantial increase in net profit for H1 2026, projecting a rise of 87.89% to 114.73% year-on-year, driven by higher metal prices and improved subsidiary contributions.

Deals & Restructuring

• Avary Holding (Shenzhen) Co., Ltd. (002938) plans to issue A-shares to no more than 35 specific investors, aiming to raise up to 9.6 billion RMB. The funds will support the Qingding AI server and high-speed optical module project, pending approvals from shareholders and regulatory bodies.
• ST Longda Co., Ltd. (002726) is publicly recruiting restructuring investors to facilitate out-of-court restructuring due to significant financial risks, including potential default on convertible bonds due in July 2026.
• TongFu Microelectronics Co., Ltd. (002156) is also issuing A-shares to specific targets to raise up to 4.22 billion RMB for expanding semiconductor packaging and testing capacities, with all necessary approvals already secured.
• Alloy Investment Co., Ltd. (000633) has signed a conditional share subscription agreement for a private placement to raise up to 300 million RMB, aimed at working capital and loan repayment.

Regulatory & Governance

• Longhua New Materials Co., Ltd. (301149) responded to audit inquiries regarding its convertible bond issuance, addressing concerns over financial performance and operational trends.
• Chongqing Shunbo Aluminum Co., Ltd. (002996) is progressing with its private placement of shares, having submitted responses to regulatory inquiries and updated its application documents.

Other Notable Developments

• EVE Energy Co., Ltd. (300014) announced guarantees for subsidiaries' loans totaling over 7.3 billion RMB, supporting their business development.
• Fuhuang Steel Structure Co., Ltd. (002743) reported ongoing negotiations to address partial debt defaults totaling 648.55 million RMB, alongside new litigation cases.
• Digital China Group Co., Ltd. (000034) has been selected for a major project bid with an estimated value of 370.56 million RMB, enhancing its IT application innovation business.
• Hengda New Materials Co., Ltd. (301469) is advancing its restricted stock incentive plan, aiming to align employee interests with company performance.

Investors should monitor these developments closely as they may impact company valuations and market dynamics.