Inventory of Companies with Private Placement Progress on January 15, 2026

Based on the latest market data, a total of

[1] on January 15, 2026, covering multiple links such as directional placement proposal disclosure and exchange review. On the same day, private placement events intertwined with multiple financial market events including central bank reverse repos, policy press conferences, restricted share unlocks, share repurchase progress, and dividend registration, forming a relatively complex market pattern.

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Wind data shows that on January 15, the A-share private placement market presented a pattern of

[1][2]. From the perspective of private placement fundraising scale, large-scale private placement proposals emerged in clusters. Among them, , making it the largest-scale private placement project of the day; , ranking second[1].

From the perspective of private placement progress, the private placement proposals disclosed on the day are still in the early stage, and need to go through key links such as exchange review and CSRC registration in the follow-up; while the private placement project approved by the exchange has entered the registration stage, which is a step closer to issuance and listing. Overall, the supply side of private placements maintains a steady pace, with no signs of large-scale centralized approval or tightening.

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: ST Songfa’s main business covers the production and sales of ceramic products and other fields. In recent years, its performance has been under certain pressure due to intensified industry competition and changes in market demand. The company launched this large-scale private placement proposal to achieve business transformation and upgrading through capital operations.

:

• Fundraising Scale
  : No more than RMB 7 billion[1]
• Use of Funds
  : For capacity expansion or technological upgrading projects (specific project details to be disclosed in subsequent announcements)
• Issuance Method
  : Issue A-shares to specific objects
• Current Status
  : Stage of disclosing the private placement proposal; subsequent review by the exchange and registration with the CSRC are required

: As the largest-scale private placement proposal of the day, ST Songfa’s RMB 7 billion fundraising plan reflects the company’s urgent financing demand from the capital market. However, in the current market environment, there are uncertainties regarding the issuance timing, discount rate, and investor subscription willingness of large-scale private placements, so follow-up progress needs to be continuously monitored.

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: Lante Optics focuses on the R&D, production and sales of precision optical components, whose products are widely used in consumer electronics, automotive optics, industrial inspection and other fields. In recent years, the company has continued to increase R&D investment, committed to the domestic substitution of high-end optical lenses and lens products.

:

• Fundraising Scale
  : No more than RMB 1.055 billion[1][2]
• Use of Funds
  : Capacity expansion or technological upgrading projects[2]
• Issuance Objects
  : Specific issuance objects have not yet been determined, and will be decided through negotiations between the board of directors and the sponsor after passing the review of the Shenzhen Stock Exchange and obtaining registration approval from the CSRC[2]
• Current Status
  : Stage of disclosing the private placement proposal

: As a STAR Market-listed company, the fundraising direction of Lante Optics’ private placement is in line with the national industrial policy orientation, and there is broad space for domestic substitution of high-end optical components. If the private placement is successfully implemented, it will effectively enrich the company’s capital strength and accelerate technological breakthroughs and capacity ramp-up.

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Although Fuling Precision Industry’s private placement proposal was released on January 13, its follow-up progress and market impact continued to unfold around January 15, which has strong reference value.

:

• Issuance Object
  : Contemporary Amperex Technology Co., Limited (CATL) (Strategic Investor)[3][4]
• Fundraising Amount
  : RMB 3.175 billion[3][4]
• Issuance Price
  : RMB 13.62 per share (not less than 80% of the average price of the 20 trading days before the pricing benchmark date)[3]
• Lock-up Period
  : CATL commits not to reduce its holdings for 36 months[4]

:

1. Annual 500,000-ton high-end lithium iron phosphate project for energy storage
2. Key components project for electric drive systems of new energy vehicles
3. Integrated electric joint project for robots
4. Key components project for intelligent chassis by-wire systems
5. Key components project for power systems of low-altitude aircraft[3]

:

• Procurement Commitment
  : CATL commits to purchasing no less than 3 million tons of lithium iron phosphate products from Fuling Precision Industry within the next 3 years[5]
• Governance Participation
  : CATL has the right to nominate one non-independent director to the board of directors of Fuling Precision Industry[5]
• Supply Guarantee
  : CATL will fully guarantee the stable supply of lithium salt raw materials for Fuling Precision Industry[5]

: Fuling Precision Industry’s introduction of CATL as a strategic investor has achieved deep binding of upstream and downstream of the industrial chain. CATL’s commitment to an ultra-long 36-month lock-up period demonstrates long-term confidence in the cooperation project, and also provides a relatively high safety margin for the private placement issuance[4]. From the industrial chain perspective, this cooperation helps Fuling Precision Industry lock in large customer orders and reduce the risk of performance fluctuations.

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The People’s Bank of China launched an

through fixed quantity, interest rate bidding, and multi-price bidding methods, with a term of 6 months (181 days)[1]. This move aims to maintain ample liquidity in the banking system and release a signal of prudent monetary policy.

: An ample liquidity environment helps reduce the financing cost of the real economy, enhance investors’ risk appetite, and form positive support for private placement issuances. The outright reverse repo tool helps activate bond assets of financial institutions and improve the efficiency of market liquidity transmission.

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The State Council Information Office held a press conference at 3:00 PM on January 15, where Zou Lan, Spokesperson and Deputy Director of the People’s Bank of China, and Li Bin, Spokesperson and Deputy Director of the State Administration of Foreign Exchange, introduced the effects of monetary and financial policies in supporting high-quality development of the real economy[1]. In the same period, the Ministry of Commerce also held a press conference to introduce key work in the commercial field.

: Policy press conferences help stabilize market expectations and clarify policy orientations. If the policy level gives positive statements on fields such as direct financing and technological innovation, it will boost private placement projects in related industries.

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On the day,

, with a total unlocked volume of 304 million shares. Calculated based on the latest closing price, the total [1]. In terms of unlocked volume, Hanma Technology, Corelax Microelectronics, and Huitong Technology ranked top; in terms of unlocked market value, Corelax Microelectronics, Huitong Technology, and Scantech ranked top.

: Restricted share unlocks increase market supply, which may put pressure on short-term stock prices. However, as strategic investors, private placement shareholders usually act prudently in reducing their holdings, and the probability of large-scale centralized share reduction is low. In addition, after the unlock, private placement shareholders of high-quality companies may choose to continue holding shares to share the long-term growth benefits of the company.

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On the day,

, among which 1 company’s repurchase plan was approved by the general meeting of shareholders, 1 company disclosed the implementation progress of share repurchase, and 9 companies’ repurchase plans have been completed[1].

: Share repurchases and private placement financing have a certain substitution or complementary relationship. Large-scale repurchases convey the company’s management’s confidence in its own value to the market, which helps stabilize stock prices and create favorable conditions for private placement issuances. Judging from the data of the day, the main force of repurchases is still concentrated in large-cap blue-chip stocks such as Kweichow Moutai, Haier Smart Home, and Sany Heavy Industry.

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According to the sorting and statistics of listed companies’ equity distribution plans,

, all of which are cash dividend distributions[1]. China Merchants Bank, Huayan Precision Machinery, and Foxconn Industrial Internet have the largest dividend payouts, with cash dividends of RMB 10.13, RMB 5.00, and RMB 3.30 per 10 shares respectively.

: Dividend ex-rights may lead to a natural decline in stock prices, affecting the space for private placement issuance prices. However, high-quality dividend-paying companies usually have stable cash flow and profitability, and their private placement projects are often more attractive to investors.

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From the full-year perspective, the 2026 private placement market presents the following characteristics:

1. Steady Supply of Private Placements
   : As of January 15, 5 companies have announced the completion of their private placement plans within the year, and 3 companies have private placement amounts exceeding RMB 1 billion[1]. The rhythm of private placement financing remains orderly.

2. Increased Participation of Strategic Investors
   : Represented by Fuling Precision Industry’s introduction of CATL, the number of strategic cooperation-type private placement cases in upstream and downstream of the industrial chain has increased. Private placements have gradually evolved from a simple financing tool to an important carrier for industrial integration and strategic cooperation.

3. Fundraising Focuses on Main Business and Technology
   : Judging from the disclosed proposals, fundraising funds are mainly invested in fields supported by national policies such as new energy, high-end manufacturing, and technological innovation, which is in line with the policy orientation of
   “serving the high-quality development of the real economy”
   .

4. Regulatory Review Focuses on Quality
   : Regulatory authorities focus on core elements such as the necessity of fundraising, the feasibility of fundraising investment projects, and the qualifications of issuance objects in the review of private placement projects, encouraging high-quality financing and restricting excessive financing and the shift from real economy to virtual economy.

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:

1. Market Volatility Risk
   : The overall volatility of the A-share market may affect the issuance timing and issuance discount rate of private placements
2. Project Execution Risk
   : There are uncertainties in the construction progress and production capacity achievement benefits of fundraising investment projects
3. Lock-up Period Risk
   : Changes in the market environment during the lock-up period of strategic investors may lead to book floating losses
4. Approval Risk
   : Private placement proposals need to go through multiple links such as exchange review and CSRC registration

:

1. Pay attention to
   industrial chain integration-type private placements
   (such as the cooperation between Fuling Precision Industry and CATL), as such projects have strong industrial logic and performance support
2. Pay attention to private placement projects with
   clear prospects for fundraising investment projects
   , focusing on evaluating the market space, technical barriers, and profit model of the fundraising investment projects
3. Pay attention to the
   qualifications of issuance objects
   ; private placement projects with high participation of strategic investors and institutional investors usually have a higher safety margin
4. Make comprehensive judgments by combining
   company fundamentals
   , and avoid simply chasing private placement concepts

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[1] Economic Observer Network - Today’s Focus | State Council Information Office to Hold Press Conference on the Effects of Monetary and Financial Policies Supporting High-Quality Development of the Real Economy (http://www.eeo.com.cn/2026/0115/779382.shtml)

[2] Securities Times Network - Announcement Express: Hongda Electronics to Build a Special Component Base, Unisplendour Microelectronics Plans to Acquire Equity (https://m.dtm.com.cn/news/202601/173818.html)

[3] Sina Finance - Fuling Precision Industry Proposes RMB 3.2 Billion Private Placement to CATL; Actual Controller Cashed Out RMB 265 Million Last Month (https://finance.sina.com.cn/jjxw/2026-01-14/doc-inhhhhqv4100109.shtml)

[4] Sina Securities - Fuling Precision Industry: CATL Commits to 36-Month No Share Reduction, Demonstrating Long-Term Confidence in the Private Placement Project (https://finance.sina.com.cn/stock/aigc/zjchg/2026-01-13/doc-inhheqfi5742272.shtml)

[5] Sohu News - Fuling Precision Industry Introduces RMB 3.175 Billion Strategic Investment from CATL, Locks in 3 Million Tons of Lithium Iron Phosphate Procurement Orders (https://www.sohu.com/a/975718334_122014422)