In an announcement on October 22, JCET said its previously reviewed proposal for a 2026 private placement of A-shares to specific targets has received approval from the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council. SASAC in principle agreed to the overall plan of issuing no more than 128 million A-shares and raising no more than RMB 6.5 billion.
The matter still requires approval from the company's shareholders' meeting, review by the Shanghai Stock Exchange, and registration approval from the CSRC before implementation.
ICgoodFind Summary: JCET's RMB 6.5 billion private placement has cleared a key regulatory step with SASAC's in-principle approval. Funding still needs three more approvals—shareholders, the exchange, and the CSRC. The packaging leader's capacity and R&D investment pace will depend on the remaining review progress.
