The company launched targeted funding to raise capital for the subsidiary's six projects, including general mining engineering contracting, mine ecological restoration projects, integrated blasting engineering projects, and intelligent production line construction projects, to further improve the company's integrated industrial chain of production, distribution, and blasting engineering services, raise the company's level of manufacturing intelligence, help the company transform and upgrade, and resume rapid development. For the first time, it was given a “Prudential Recommendation -A” rating. Start targeted distribution and increase the main business. The company plans to privately issue no more than 120 million shares and raise no more than 1,105 billion yuan in net capital, mainly for general mining engineering contracting and mine ecological restoration projects, integrated blasting engineering projects, explosion smart factory projects, intelligent production line construction projects and digital civilian explosion industry chain projects of Anhui Jiangnan Blasting Engineering Co., Ltd., and plans to raise 200 million yuan to supplement the company's working capital. The pricing reference date is the first day of the issuance period for this non-public offering. After the company has obtained approval from the China Securities Regulatory Commission, the final issuance price will be determined by negotiation between the company and the sponsoring agency based on the subscription situation of institutional investors in accordance with the principle of price priority. Trading of the company's shares will resume on August 31. Strengthening blasting services and integrated capabilities is in line with the general development trend of the industry. The state encourages civilian explosion enterprises to develop an integrated business model for the production, distribution, and blasting of civilian explosion products, and large-scale foreign explosives enterprises such as Orica have achieved long-term rapid development through integration. In comparison, the market capacity for civilian explosion products is only 30 billion yuan, and the market size for blasting services is as high as hundreds of billion yuan, so the market space is huge. The company has an annual production capacity of 266,500 tons of industrial explosives, 140 million meters of detonators, and 36 million detonators. The scale is among the highest in the country, while the proportion of blasting service revenue in the first half of 2015 was only 15%, which is a small proportion. The company raised capital to invest in the subsidiary's mining engineering general contracting, mine ecological restoration projects and blasting engineering integration projects, which will expand the scale of the company's general mining engineering contracting business, improve service capabilities, rapidly expand development space, give full play to the company's integrated advantages of products, production technology and blasting engineering technology, and achieve rapid business expansion. Raising the level of intelligent manufacturing is conducive to deepening industrial upgrading. On May 9, 2015, the State Council officially released “Made in China 2025”. The strategic plan focuses on integrating various aspects such as next-generation information technology, manufacturing technology, and intelligent equipment to comprehensively improve the level of intelligent manufacturing. The capital raised this time will be invested in smart factories, intelligent production lines, and digital explosion industry chain projects, which will accelerate the implementation process of the company's “intelligent manufacturing, informatization of management, and safe digitization” development strategy, help improve the company's management efficiency and sustainable operation capabilities, and greatly enhance the company's overall competitiveness. For the first time, it was given a “Prudential Recommendation - A” rating: The company is a leader in the domestic civil explosion industry. It enhances blasting services and integrated capabilities through targeted increases, builds intelligent chemical plants, promotes rapid transformation and upgrading of the company, and achieves leapfrog development. It is estimated that in 2015-2017 EPS will be 0.17 yuan, 0.20 yuan, and 0.23 yuan, respectively. Risk warning: risk of market downturn; risk of safety incidents; policy risk.