CGN Nuclear Technology plans to issue up to 284 million A-shares in a private placement to its controlling shareholder, CGN Nuclear Technology Application Company Limited, raising no less than 850 million yuan and no more than 1.25 billion yuan, all to be used to replenish working capital or repay bank loans. The company's net profit attributable to the parent over the past three years was negative 737 million yuan, negative 362 million yuan, and negative 287 million yuan, respectively, with losses steadily narrowing. This issuance still requires approval from state-owned assets regulatory authorities, deliberation and approval by the shareholders' meeting, review and approval by the Shenzhen Stock Exchange, and registration consent from the China Securities Regulatory Commission.
CGN Nuclear Technology Development Co LtdPrivate placement to controlling shareholder to raise up to 1.25 billion yuan for working capital and debt repayment, improving financial position.