Core Viewpoint - The company maintains its earnings forecast for 2025 and 2026, with a current trading P/E of 22.6x and 17.5x for those years, respectively, and a target price of HKD 15, indicating a potential upside of 16.5% from the current stock price [1] Group 1: Placement Details - The company plans to issue up to 17,480,000 shares at a placement price of HKD 11.99 per share, representing a discount of approximately 6.91% compared to the closing price of HKD 12.88 on May 12 [2] - The total gross proceeds from the placement are estimated to be around HKD 209.59 million, with a net amount of approximately HKD 208.71 million after deducting placement commissions and estimated expenses [2] Group 2: Use of Proceeds - The funds raised will primarily be used for upgrading AI capabilities and accelerating the implementation of innovative business scenarios, focusing on areas such as e-commerce, AI applications, robotics, and cross-border business [3] - Additional investments will be made in R&D, including the intelligent upgrade of the "Shengyitong Cloud Platform" and the commercialization of AI applications based on industry data [3] Group 3: Potential Investors - The company anticipates that the potential investors will include at least six parties, with significant industry backgrounds, which may enhance the industrial ecosystem and data connectivity [4] - The expected major investors are likely to subscribe for over 88.6% of the shares, which could help accelerate the company's long-term development and strengthen its core competitiveness in supply chain finance and innovative business expansion [4]
中金：维持盛业(06069)“跑赢行业”评级 目标价15港元