{"fileID":696897,"siteID":1,"title":"伯特利28亿再融资获通过，2025年再融资市场或生变……","linkTitle":"","catalogs":"","subTitle":"","isExclusive":1,"articleWordCount":1292,"leadTitle":"","source":"国际金融报","sourceID":0,"editor":"褚念颖","modifyTime":"2025-02-25 21:09:22","note":"","author":"吴鸣洲","authorID":0,"liability":"佘诗婕","abstract":"","publishTime":"2025-02-25 21:09:22","articleType":0,"keywords":"","countRatio":1,"countClick":130,"countDiscuss":0,"countPraise":0,"countShare":0,"countShareClick":0,"pic3":"","pic2":"","pic1":"https://image.ifnews.com/data/1/images/2025/0225/17404695689191666_600x339.jpg","bigPic":0,"tag":"","shortTitle":"","content":"<p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\"><strong>2月24日晚间，上交所官网显示，芜湖伯特利汽车安全系统股份有限公司(下称“伯特利”)发行可转债上会获通过。</strong></p><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\"><img class=\"rich_pages wxw-img js_insertlocalimg\" data-imgfileid=\"100039150\" data-ratio=\"0.5386221294363257\" data-s=\"300,640\" src=\"https://image.ifnews.com/data/1/images/2025/0225/17404695259761753_958x516.png\" data-type=\"png\" data-w=\"958\" data-imgqrcoded=\"1\" style=\"margin: 0px; padding: 0px; max-width: 100%; height: auto !important; box-sizing: border-box !important; overflow-wrap: break-word !important; vertical-align: bottom;\"/></p><p class=\"mt-picture-desc-center\" style=\"font-weight: normal; color: rgb(153, 153, 153); font-size: 15px; line-height: 1.75; margin: 5px 0px; text-align: center; text-indent: 0px;\">制图：佘诗婕</p><section><br/></section><section><section><section><section><section><section><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\"><strong>募资28.32亿</strong></p></section><section><br/></section></section></section></section></section></section><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\">据悉，伯特利本次可转换公司债券拟募集资金总规模不超过28.32亿元，每张面值为100元，拟于上海证券交易所上市，保荐机构为中金公司。</p><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\">资料显示，伯特利是国内专业从事汽车机械制动产品、智能电控产品和机械转向产品研发、生产及销售的汽车零部件供应商。</p><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\">2021年至2023年及2024年前3个月，<strong>伯特利营业收入分别为34.92亿元、55.39亿元、74.74亿元和18.60亿元；归属于公司母公司所有者的净利润分别为5.05亿元、7亿元、8.91亿元及2.10亿元，业绩较为稳定。</strong></p><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\"><strong>报告期内，伯特利对奇瑞汽车及其关联方发生的关联销售金额分别为11.18亿元、18.91亿元、28.25亿元及8.74亿元，分别占当期营业收入的32.01%、34.13%、37.80%及46.99%。</strong></p><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\">公司本次发行可转换公司债券拟募集资金总规模不超过28.32亿元，主要用于6个项目。</p><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\">其中，5个实体项目为年产60万套电子机械制动（EMB）研发及产业化项目、年产100万套线控底盘制动系统产业化项目、年产100万套电子驻车制动系统（EPB）建设项目、高强度铝合金铸件项目、墨西哥年产720万件轻量化零部件及200万件制动钳项目，计划总投资2.81亿元、5亿元、2.64亿元、3.5亿元、11.55亿元，合计约为25.50亿元。上述5个项目拟使用本次募资金额分别为1.88亿元、2.26亿元、2.26亿元、3.11亿元、10.31亿元，合计为19.82亿元。</p><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\"><strong>剩余8.50亿元的募资，伯特利准备用于补充流动资金，占本次募资额的30%。</strong></p><section><br/></section><section><section><section><section><section><section><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\"><strong>再融资市场或将有变</strong></p></section></section></section></section></section></section><section></section><section><br/></section><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\"><strong>2025年以来，沪深交易所已有4起再融资项目上会，均获得通过。值得一提的是，这4起再融资项目均为发行可转债。</strong></p><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\">对比2024年全年的情况，再融资市场或将发生变化，将由可转债项目为主导。</p><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\"><strong>据统计，2024年A股再融资市场共计审核90家，较2023年的418家大幅下降。审核通过率为97%。</strong></p><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\">从板块来看，2024年A股再融资上会企业中，科创板18家，创业板23家，上证主板31家，深证主板18家。</p><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\">从再融资类型来看，发行股票审核共58家，可转债审核共32家。</p><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\">2024年再融资被否的两家公司分别是山东日科化学股份有限公司和海南葫芦娃药业集团股份有限公司。</p><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\">具体来看，日科化学主要从事塑料与橡胶改性剂产品的研发、生产和销售，拟发行可转债融资5.15亿元，2024年2月2日上会审核未获通过。上市审核委员会审议认为发行人未能充分说明本次融资的必要性和融资规模的合理性。</p><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\">葫芦娃药业则以儿科用药为发展特色，主要从事中成药及化学药品的研发、生产和销售，产品应用范围涵盖呼吸系统类、消化系统类、全身抗感染类等多个用药领域。2024年8月26日上会审核未获通过。</p><p class=\"mt-p-default\" style=\"font-weight: normal; color: rgb(34, 34, 34); font-size: 17px; line-height: 1.75; margin: 10px 0px; text-align: justify; text-indent: 2rem;\">上市审核委员会审议提出相关问题：2023年期间预付研发款项大幅增加的合理性、2023年期间预付渠道推广费大幅增加的合理性、2023年第四季度研发投入资本化核算是否准确、2023年营业收入增长的合理性和真实性。</p>","extField":{"catalogName":"","att":[],"isShareIcon":0,"images":1,"shareIcon":"","videos":0,"audits":[],"articleExt":[]},"isHide":0,"columnID":39,"columnName":"IPO","columnStyle":0,"discussClosed":0,"countClickInit":0,"fullColumn":"IPO","articleUrl":"","specialId":0,"linkID":0,"articleExt":[],"ipCity":"","activityStatus":0,"att":[],"shareIcon":"","images":[{"imgUrl":"https://image.ifnews.com/data/1/images/2025/0225/17404695259761753_958x516.png","imageUrl":"","imgDesc":"","placeholder":"##########"}],"videos":[],"videoExif":{},"htmlAbstract":"","relArticle":[],"auditUsers":[],"countCollect":0}