Securities Code: 003018
Securities Abbreviation: Jin Fu Technology
Jin Fu Technology Co., Ltd.
Analysis Report on the 2026 Simplified Targeted Offering Plan (Revised Draft)
JIN FU
August 2026
Jin Fu Technology Co., Ltd. (hereinafter referred to as "Jin Fu Technology," "the Company," or "this Company") is a company listed on the Shenzhen Stock Exchange. To meet the development needs of its liquid cooling business and further enhance its capital strength, core competitiveness, and sustainable operating capabilities, the Company plans to issue shares to specific targets through a simplified procedure, with total funds raised not exceeding RMB 30,000,000,000 (inclusive). In accordance with the "Company Law of the People's Republic of China," the "Securities Law of the People's Republic of China," the "Administrative Measures for the Registration of Issuance of Securities by Listed Companies," and other relevant laws, regulations, and normative documents, the Company has compiled this analysis report on the justification of the plan for issuing shares to specific targets through a simplified procedure.
Unless otherwise specified in this report, terms used herein have the same meaning as defined in the "Jin Fu Technology Co., Ltd. 2026 Plan for Issuing Shares to Specific Targets Through a Simplified Procedure."
I. Use of Proceeds from the Targeted Offering
The total amount of proceeds to be raised through the simplified targeted offering of shares shall not exceed RMB 30,000,000,000 (inclusive). After deducting relevant issuance expenses, the net proceeds will be invested in the following projects:
| No. | Project Name | Total Project Investment | Amount of Proceeds to be Invested |
|---|---|---|---|
| 1 | Jin Fu Technology Liquid Cooling Plate Production Base Project | 14,783.25 | 14,500.00 |
| 2 | Zhuo Hui Metal Liquid Cooling Component Upgrade and Expansion Project | 4,980.97 | 4,500.00 |
| 3 | Lianyi Thermal Liquid Cooling Component Upgrade and Expansion Project | 12,586.48 | 11,000.00 |
| Total | 32,350.70 | 30,000.00 |
If the Company, prior to the capital injection from this targeted offering, invests in projects using its own funds based on its operating conditions and development plans, such advance investments will be replaced by the raised funds upon their availability. If the net proceeds after deducting issuance expenses are less than the amount of proceeds intended for the above projects, the shortfall will be covered by the Company's own funds or self-raised funds.
II. Background and Objectives of the Targeted Offering
The Company is primarily engaged in the research, design, production, and sales of packaging products for the beverage and food industries. Following the acquisition of 51% of the equity in Zhuo Hui Metal and Lianyi Thermal in early 2026, the Company has entered the high-growth liquid cooling and heat dissipation sector, establishing a dual-driven development strategy of "food and beverage packaging + liquid cooling and heat dissipation." In the future, while consolidating its existing competitive advantages in the packaging sector, the Company will focus on expanding its liquid cooling and heat dissipation business, continuously optimizing its business structure, cultivating new profit growth points, and promoting the Company's high-quality development.
The background and objectives of the Company's targeted offering are as follows:
(I) Background of the Targeted Offering
- National Emphasis on Energy Conservation and Emission Reduction, with Policy Support for High-Efficiency Cooling Technologies