With the continuous development of China's capital market, more and more enterprises are determined to raise funds through the capital market to continuously expand their business. The feasibility study report on the microcomputer relay protection calibration instrument fundraising project is a written report that assists enterprises planning to go public in completing the filing and approval of fundraising projects before IPO, and in coordinating with securities firms to provide necessary support for the company's prospectus.
The design of the fundraising project should combine the market segment report and the enterprise's own characteristics, reasonably predict the project prospects and profitability, accurately describe the logical relationship with the company's core competitive advantages and sustainable profitability, and ensure its feasibility and full alignment with the CSRC's review thinking to pass the CSRC review. Issues related to the use of raised funds include the necessity of financing, whether there is a clear direction for the use of raised funds, whether the fundraising project has clear profit prospects, whether the preparation for the use of over-raised funds is sufficient, and whether there will be blind expansion. Among the enterprises rejected for GEM IPO, nearly half have issues with the use of raised funds, showing that the fundraising project is a very critical part in the CSRC review stage.
However, the road to listing has never been a smooth one, and many enterprises have failed on the path to listing. Statistics show that from 2007 to 2011, the CSRC reviewed 1,226 enterprises for initial public offerings, of which 228 were rejected, with a rejection rate of 18.6%. Strict review has become the norm.
Many enterprises have broken through their previous understanding of main business in the design of fundraising projects. For example, an enterprise extended from subway business to high-speed railway through GEM listing, another enterprise extended from building intelligent services to building energy-saving services, and another transformed from vaccine marketing to independent vaccine research, development, and production.
The rationality of fundraising projects has always been the focus of the CSRC, and a reasonable and scientific feasibility study of fundraising projects has become an important part of supporting the successful listing of enterprises.
The feasibility study of a fundraising project must start from the overall system, analyze and demonstrate multiple aspects such as technology, economy, finance, commerce, environmental protection, and law to determine whether the construction project is feasible and provide a scientific basis for correct investment decisions. It is a process of continuous analysis, research, evaluation, and decision-making for a multi-objective system. It requires the cooperation of professionals with knowledge in various fields. It should fully consider the CSRC's requirements on the use of raised funds, market prospects, product technology content, environmental impact, and the matching with the company's existing management capabilities and sales capabilities. A reasonable feasibility study of the fundraising project is the key to passing the review.
Huajing Zongheng has a very solid research foundation in fundraising feasibility studies and can provide clients with high-quality services:
15.10 The necessity and rationality of significantly increasing investment in fixed assets, intangible assets, and R&D expenses (key point)
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