Group 1 - Fangzheng Technology reached the daily limit increase in stock price, indicating strong market interest and investor confidence [1] - The trading volume for Fangzheng Technology was 4.024 billion yuan, reflecting significant activity in the stock [1]

Core Insights - The article highlights the rapid advancement of digital Chinese construction, showcasing various applications of AI technology in education, translation, elderly assistance, and cultural heritage preservation [1] - Founder Electronic is committed to empowering cultural development through technology, particularly in the application of AI in font libraries, media publishing, and academic journals [1] AI Font Creation Technology - The AI-assisted font creation technology has enabled the digital resurrection of the classic work "Luo Shen Fu" by Wang Xianzhi, which is a significant achievement in the field of calligraphy [2][5] - The technology involves enhancing original documents to reconstruct missing characters and accurately reproducing the original style [3][4] Technical Innovation and Cultural Heritage - The AI-assisted font creation technology has been under development for over a decade, led by Peking University and supported by Founder Electronic, and has won awards for its innovative contributions [5] - The "Chinese Boutique Font Library Project," which aims to digitize classic calligraphy works, utilizes this technology to create a comprehensive computer font library [5][6] Process of Font Development - The font development process includes eight rigorous steps, ensuring high fidelity and efficiency in character generation [6] - AI technology aids in quickly recognizing and processing a large volume of calligraphy works, ensuring the final product reflects the essence of calligraphy art [7] Future Directions - Founder Electronic aims to continue integrating technology with cultural heritage, ensuring that traditional culture thrives in the digital age [8]

Core Points - The company received an inquiry letter from the Shanghai Stock Exchange regarding its application for a specific stock issuance on September 5, 2025 [1] - The company has conducted thorough research and provided responses to the inquiries raised in the letter, along with updates to the application documents [2] - The issuance of A-shares to specific targets is subject to approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission, with uncertainties regarding the approval timeline [2] Group 1 - The company’s board guarantees the truthfulness, accuracy, and completeness of the announcement [1] - The inquiry letter pertains to the company's application for issuing A-shares for the year 2025 [1] - The company will fulfill its information disclosure obligations based on the progress of the matter [2]

Core Points - Fangzheng Technology announced on September 27 that it received an inquiry letter from the Shanghai Stock Exchange regarding its application for a specific issuance of A-shares on September 5, 2025 [1] - The inquiry pertains to the review of the application documents for the issuance of A-shares to specific investors for the fiscal year 2025 [1] - Fangzheng Technology, along with relevant intermediaries, is conducting thorough research on the inquiries and has provided explanations and updates to the application documents, which have been disclosed on the Shanghai Stock Exchange website [1] Regulatory Process - The issuance of A-shares to specific investors is subject to approval from the Shanghai Stock Exchange and requires consent from the China Securities Regulatory Commission (CSRC) before implementation [1] - There is uncertainty regarding whether the application will pass the review by the Shanghai Stock Exchange and receive the CSRC's approval, as well as the timeline for such decisions [1] - The company will fulfill its information disclosure obligations and remind investors to be aware of investment risks [1]

Core Viewpoint - Fangzheng Technology Group Co., Ltd. is seeking to raise up to 1.98 billion yuan for an "AI and high-density interconnection circuit board industrial base project," which has attracted market attention [1] Fundraising Project Details - The total planned investment for the fundraising project is 2.131 billion yuan, with 2.09 billion yuan allocated for construction and 41 million yuan for working capital [2] - The proposed fundraising of 1.98 billion yuan will be entirely used for capital expenditures, with an expected internal rate of return of 10.46% upon reaching production capacity [2] - The project will be jointly implemented by Zhuhai Fangzheng Technology Multilayer Circuit Board Co., Ltd. and Zhuhai Fangzheng Technology High-density Electronics Co., Ltd. [2] - The estimated funding gap for Fangzheng Technology over the next three years (2025-2027) is approximately 2.464 billion yuan, making the proposed fundraising amount reasonable [2] Business Operations Analysis - Fangzheng Technology's main business revenue includes PCB and integrated communication services, with other income primarily from waste sales [3] - The comprehensive gross profit margins during the reporting period were 16.23%, 18.28%, 21.97%, and 21.91% [3] - PCB business shows an overall upward trend in gross profit margin, while the integrated communication business is declining and will be scaled down [3] - Revenue from waste sales is closely linked to PCB revenue, waste rates, and waste prices [3] - Overseas sales are influenced by macroeconomic conditions and industry demand, but the company maintains stable cooperation with international clients [3] Financial Metrics Interpretation - Fangzheng Technology's cash and interest-bearing debt have shown an upward trend, indicating a reasonable scale of cash holdings and debt [4] - Accounts receivable are aligned with operating income, and the change in expected credit loss rate from 5% to 1% is deemed reasonable [4] - Inventory levels have generally increased, with a stable structure and sufficient orders on hand [4] - Other receivables have decreased, with adequate provisions for bad debts [4] - Fixed asset scale continues to grow in line with production capacity and revenue [4] Bankruptcy Reorganization Progress - Fangzheng Technology completed its bankruptcy reorganization at the end of 2022, with good repayment conditions for confirmed and unreported debts [5] - There are no future cash outflows from the company due to guarantees and fund borrowings from subsidiaries [5] - The company continues to use the "Fangzheng" and "FOUNDER" trademarks, with minimal impact on financial status [5]

保荐机构（主承销商） 股票代码：600601 股票简称：方正科技 方正科技集团股份有限公司 2025 年度向特定对象发行 A 股股票 募集说明书 （修订稿） （成都市青羊区东城根上街 95 号） （上海市静安区天目西路 128 号 19 层 1902 室） 二〇二五年九月 方正科技集团股份有限公司 募集说明书 声 明 本公司及全体董事、监事、高级管理人员承诺募集说明书及其他信息披露资 料不存在任何虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性及完整 性承担连带赔偿责任。 公司负责人、主管会计工作负责人及会计机构负责人保证募集说明书中财务 会计资料真实、完整。 中国证券监督管理委员会、上海证券交易所对本次发行所作的任何决定或意 见，均不表明其对申请文件及所披露信息的真实性、准确性、完整性作出保证， 也不表明其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断 或保证。任何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，证券依法发行后，发行人经营与收益的变化，由发 行人自行负责。投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担证券依法发行后因发行人经营与收益变化或者证券价格变动 ...

联合保荐人（主承销商） （成都市青羊区东城根上街 95 号） （上海市静安区天目西路 128 号 19 层 1902 室） 国金证券股份有限公司 华金证券股份有限公司 关于方正科技集团股份有限公司 向特定对象发行股票 之 发行保荐书 二〇二五年九月 方正科技集团股份有限公司 发行保荐书 声 明 国金证券股份有限公司、华金证券股份有限公司接受方正科技集团股份有限 公司（以下简称"方正科技""发行人"或"公司"）的委托，担任方正科技集 团股份有限公司 2025 年度向特定对象发行 A 股股票的联合保荐人，为本次发行 出具发行保荐书。 保荐人及指定的保荐代表人根据《中华人民共和国公司法》（以下简称"《公 司法》"）《中华人民共和国证券法》（以下简称"《证券法》"）《上市公司 证券发行注册管理办法》（以下简称"《注册管理办法》"）等有关法律、法规 和中国证券监督管理委员会、上海证券交易所的有关规定，诚实守信，勤勉尽责， 严格按照依法制订的业务规则、行业执业规范和道德准则出具发行保荐书，并保 证所出具文件的真实性、准确性和完整性。 在本发行保荐书中，除上下文另有所指，释义与《方正科技集团股份有限公 司 2025 年度向 ...

国金证券股份有限公司 华金证券股份有限公司 关于方正科技集团股份有限公司 向特定对象发行股票并上市 之 上市保荐书 保荐机构（主承销商） （成都市青羊区东城根上街 95 号） （上海市静安区天目西路 128 号 19 层 1902 室） 二〇二五年九月 方正科技集团股份有限公司 上市保荐书 声 明 上海证券交易所： 国金证券股份有限公司、华金证券股份有限公司（以下合并简称"保荐机 构"）接受方正科技集团股份有限公司（以下简称"方正科技"、"发行人"、 "公司"）的委托，担任方正科技本次向特定对象发行股票（以下简称"本次发 行"）的保荐机构，出具本上市保荐书。 保荐机构及其保荐代表人根据《中华人民共和国公司法》（以下简称"《公 司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《证券发行 上市保荐业务管理办法》《上市公司证券发行注册管理办法》（以下简称"《注册 管理办法》"）等有关法律、法规的规定，诚实守信，勤勉尽责，严格按照依法 制订的业务规则、行业执业规范和道德准则出具本上市保荐书，并保证所出具文 件的真实性、准确性和完整性。 本上市保荐书如无特别说明，相关用语具有与《方正科技集团股份有限公司 ...

中审众环会计师事务所（特殊普通合伙） 关于方正科技集团股份有限公司 申请向特定对象发行股票 审核问询相关问题的回复 专项核查报告 众环专字(2025)0500427号 目 录 起始页码 专项核查报告 1 中审众环会计师事务所（特殊普通合伙） 关于方正科技集团股份有限公司申请向特定对象 发行股票审核问询相关问题的回复 专项核查报告 众环专字(2025)0500427 号 上海证券交易所： 我们于 2025 年 9 月 5 日收到方正科技集团股份有限公司（以下简称"方正科 技"、"公司"或"发行人"）转来的上海证券交易所下发的《关于方正科技集团股 份有限公司向特定对象发行股票申请文件的审核问询函》（上证上审（再融资） ﹝2025﹞266 号）（以下简称"《问询函》"），我们结合已执行的审计工作，针 对问询函中要求会计师发表意见的问题进行了审慎核查，现整理回复如下： 在本回复中，若合计数与各分项数值相加之和在尾数上存在差异，均为四舍 五入所致，同时，文中各类字体释义如下： | 字体 | 释义 | | --- | --- | | 黑体加粗 | 问询函中的问题 | | 宋体 | 公司答复 | | 楷体 | 会计师回复 ...

股票代码：600601 股票简称：方正科技 方正科技集团股份有限公司 （上海市南京西路 1515 号嘉里商务中心 9 楼） 关于方正科技集团股份有限公司 向特定对象发行股票申请文件的 审核问询函的回复 （成都市青羊区东城根上街 95 号） （上海市静安区天目西路 128 号 19 层 1902 室） 二〇二五年九月 7-1-1 上海证券交易所： 贵所于 2025 年 9 月 5 日出具的《关于方正科技集团股份有限公司向特定对 象发行股票申请文件的审核问询函》（上证上审（再融资）〔2025〕266 号）（以 下简称"《审核问询函》"）已收悉，方正科技集团股份有限公司（以下简称"方 正科技"、"发行人"或"公司"）与国金证券股份有限公司、华金证券股份有 限公司（以下简称"保荐机构"或"保荐人"）、北京金诚同达律师事务所（以 下简称"发行人律师"）、中审众环会计师事务所（特殊普通合伙）（以下简称 "申报会计师"）对反馈意见所提问题进行了认真讨论与核查，就需要发行人及 各相关中介机构做出书面说明和核查的有关问题逐项落实，本着勤勉尽责、诚实 守信的原则就《审核问询函》所提问题进行了逐项回复，请予审核。 保荐机构（主承销 ...