With the continuous development of China's capital market, an increasing number of enterprises are determined to raise funds through the capital market to continuously expand their business. The feasibility study report for the self-cleaning smoke and dust filter fundraising project is a written report that assists companies planning to go public in completing the filing and approval of fundraising projects before an IPO, coordinating with securities firms, and providing necessary support for the company's prospectus.
The design of fundraising projects should combine market segment reports and the company's own characteristics, reasonably forecast project prospects and profitability, accurately describe the logical relationship with the company's core competitive advantages and sustainable profitability, and demonstrate its feasibility, necessity, and controllability, fully aligning with the CSRC's review approach to ensure approval. Issues regarding the use of raised funds, including 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 preparations for the use of over-raised funds are sufficient, and whether there is a risk of blind expansion, are critical. Among the companies rejected for IPO on the ChiNext board, nearly half had issues with the use of raised funds, indicating that fundraising projects are a crucial part of the CSRC review stage.
However, the road to listing has never been smooth, and many companies have failed in their attempts. Statistics show that from 2007 to 2011, the CSRC reviewed 1,226 companies for initial public offerings, of which 228 were rejected, a rejection rate of 18.6%. Strict review has become the norm.
Many companies have broken through their previous understanding of main business in the design of fundraising projects. For example, one company expanded from subway business to high-speed railway business through its ChiNext listing, another extended from building intelligent services to building energy-saving services, and yet another transformed from vaccine marketing to independent vaccine research and production.
Many companies have also made significant breakthroughs in the proportion of raised funds allocated to R&D centers. For instance, an IT company invested about 50% of its total raised funds in its R&D center, while a biopharmaceutical company invested over 40% of its fundraising total in its R&D center. In fact, in certain fields, R&D capability equates to sustainable profitability.
The rationality of fundraising projects has always been a focus of the CSRC's attention. A reasonable and scientific feasibility study for fundraising projects is an important part of supporting a company's successful listing. It involves analyzing and demonstrating technical, economic, financial, commercial, environmental protection, and legal aspects to determine whether the construction project is feasible, providing a scientific basis for correct investment decisions. The feasibility study of a project is a process of continuous analysis, research, evaluation, and decision-making for a multi-factor, multi-objective system. It requires the collaboration of professionals with knowledge in various fields. Market prospects, product technical content, environmental impact, and alignment with the company's existing management and sales capabilities are all considered. A reasonable feasibility study for fundraising projects is 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)
