Xinjiang Alloy Investment Co., Ltd.
2026 Analysis Report on the Rationale for the Private Placement of Shares
Xinjiang Alloy Investment Co., Ltd., in order to meet its capital needs for business development and further enhance its competitiveness, in accordance with the "Company Law of the People's Republic of China," "Securities Law of the People's Republic of China," and the "Administrative Measures for the Registration of Issuance of Securities by Listed Companies," and other relevant laws, regulations, and its Articles of Association, proposes to issue shares to specific targets, raising a total capital not exceeding RMB 300 million (including this amount). After deducting issuance expenses, the net proceeds will be used entirely to supplement working capital and repay bank loans.
(Unless otherwise specified, terms used in this analysis report have the same meaning as in the "Xinjiang Alloy Investment Co., Ltd. 2026 Private Placement of Shares Plan").
I. Background and Objectives of the Private Placement of Shares
(I) Background of the Private Placement of Shares
- The New Energy Heavy-Duty Truck Transportation Industry is in a Crucial Period of Rapid Development
With the development of the new energy industry, the advantages of new energy heavy-duty trucks in transportation are becoming increasingly prominent. Their zero-emission, low-noise, and high-efficiency characteristics make them highly sought after in scenarios such as energy logistics, slag transportation, and mine extraction. Currently, the new energy heavy-duty truck transportation industry is in a golden period of rapid development. Driven by policy support, market demand, and the "dual carbon" goals, new energy heavy-duty trucks will become a key force in achieving "dual carbon" and lay a solid foundation for achieving carbon neutrality. In the future, with the continuous advancement of technological innovation and market expansion, new energy heavy-duty trucks will become an important force in promoting the green transformation of the transportation industry.
In recent years, the state has introduced a series of high-level policy combinations related to the new energy transportation business. In March 2025, the Ministry of Transport, the National Development and Reform Commission, and other ten departments jointly issued the "Guiding Opinions on Promoting the Integrated Development of Transportation and Energy," which clearly proposed to "promote the phase-out and renewal of operating vehicles meeting National IV and below standards, and promote the large-scale application of new energy operating trucks (heavy-duty trucks) based on local conditions, and develop zero-emission freight transport." "Relying on major projects such as the New Land-Sea Corridor in the West, the outward transportation of coal from Xinjiang, and the expansion and renovation of national expressways, build a model of zero-emission transportation corridors." The requirements of the National Development and Reform Commission and the Ministry of Finance on strengthening and expanding the implementation of large-scale equipment renewal and consumer goods trade-in policies require accelerating the scrapping of high-energy-consuming and high-emission old trucks and providing subsidies for the renewal of operating trucks. This series of policies provides strong financial support and institutional guarantees for the new energy transportation business.
- The Nickel-Based Alloy Materials Industry is Facing Structural Development Opportunities