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 and strengthen their business. The feasibility study report on the fundraising investment project for variable frequency resonant high-voltage test equipment is a written report that assists enterprises planning to go public in completing the filing and approval of fundraising investment projects before IPO, coordinating with securities firms, and providing necessary support for the company's prospectus.
The design of fundraising investment projects should combine market segment reports and the company's own characteristics, accurately describe the logical relationship with the company's core competitive advantages and sustained profitability, and demonstrate its feasibility, necessity, and controllability, fully aligning with the CSRC's review thinking to ensure approval. This includes the necessity of financing, whether there is a clear direction for the use of raised funds, whether the fundraising investment project has a clear profit prospect, whether the preparation for the use of over-raised funds is sufficient, and whether there will be blind expansion. Among the companies rejected for ChiNext IPO, nearly half had issues with the use of raised funds, showing that fundraising investment projects are a critical part of the CSRC review process.
However, the road to listing has never been smooth, and many companies have failed on this path. Statistics show that from 2007 to 2011, the CSRC reviewed 1,226 companies for initial public offerings, of which 228 were rejected, with a rejection rate of 18.6%, making strict review the norm.
Many companies have broken through their previous understanding of main business in the design of fundraising investment projects. For example, a company extended from subway business to high-speed railway business through its ChiNext listing, another extended from building intelligent services to building energy-saving services, and another transformed from vaccine marketing to independent vaccine R&D and production.
Many companies have also made significant breakthroughs in the proportion of raised funds invested in R&D centers. For instance, an IT company invested about 50% of total raised funds in its R&D center, and a biopharmaceutical company invested over 40% of the total fundraising amount in its R&D center. In fact, in certain fields, R&D capability equals sustained profitability.
The rationality of fundraising investment projects has always been a focus of the CSRC. A reasonable and scientific feasibility study of fundraising investment projects has become an important part of supporting a company's successful listing.
The feasibility study of fundraising investment projects must start from the overall system, analyzing and demonstrating various aspects such as technology, economy, finance, commerce, environmental protection, and law to determine whether the construction project is feasible, providing a scientific basis for correct investment decisions. The feasibility study of a project is a continuous process of analysis, research, evaluation, and decision-making for a multi-factor, 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 matching with the company's existing management and sales capabilities. A reasonable feasibility study of fundraising investment projects is key to passing the review.
Huajing Zongheng has a very solid research foundation in fundraising investment feasibility studies and can provide clients with high-quality services:
15.10 Necessity and rationality of significantly increasing investment in fixed assets, intangible assets, and R&D expenses (key point)
