Summary of Key Points Core Viewpoint The report provides an overview of the fundraising activities and the management of the raised funds by Shenzhen Ruihua Tai Film Technology Co., Ltd., detailing the amount raised, its usage, and compliance with regulations. Group 1: Fundraising Overview - The total amount raised through the issuance of convertible bonds is RMB 422.58 million, with a net amount of RMB 422.58 million after deducting issuance costs of RMB 7.42 million [1]. - As of June 30, 2025, the company has utilized RMB 426.05 million of the raised funds, including RMB 11.16 million used in the current year [1]. Group 2: Fund Usage and Management - The funds were primarily allocated to the Jiaxing high-performance polyimide film project (RMB 332.90 million) and to supplement working capital and repay bank loans (RMB 93.14 million) [1]. - The company has established a dedicated account for managing the raised funds, ensuring compliance with relevant laws and regulations [1]. Group 3: Financial Performance of Projects - The Jiaxing high-performance polyimide film project has generated revenue of RMB 94.93 million in the first half of 2025, but reported a net loss of RMB 23.84 million, indicating that the project is still in the ramp-up phase with relatively high unit costs [6]. - The project has completed construction and is gradually increasing production efficiency, with four production lines starting operations in September 2023 [5][6].

Group 1 - The company reported a revenue of 181,931,302.33 yuan for the first half of 2025, representing a year-on-year growth of 37.86% [1] - The net profit attributable to shareholders of the listed company was -33,734,236.57 yuan [1]

Core Viewpoint - Ruihua Tai announced the election of Yuan Shunqi as the employee representative director of the company's third board of directors during a recent employee representative meeting [1] Group 1 - The employee representative meeting was attended by all employee representatives who voted to elect Yuan Shunqi [1] - The newly elected employee representative director will serve alongside non-employee representative directors elected at the 2024 annual general meeting, forming the third board of directors [1] - The term of the employee representative director aligns with that of the third board of directors [1]

Core Viewpoint - The company has approved the use of part of the raised funds to provide a loan to its wholly-owned subsidiary for a specific investment project [1] Group 1 - The company announced on August 22 that it will provide a loan of up to 330 million yuan to its subsidiary, Jiaxing Ruihuatai Film Technology Co., Ltd. [1] - The loan is intended for the "Jiaxing High-Performance Polyimide Film Project," which is part of the fundraising project from the issuance of convertible bonds in 2022 [1] - The loan term is set for three years from the actual borrowing date, with options for early repayment or extension after maturity [1] Group 2 - The interest rate for the loan will be the actual rate of the convertible bonds issued [1] - If the convertible bonds are converted into common stock, the company will no longer charge interest on the loan to Jiaxing Ruihuatai [1]

Core Viewpoint - The company reported a significant increase in revenue driven by the recovery in the smartphone and consumer electronics market, despite continuing losses in net profit [2][3]. Financial Performance - The company achieved operating revenue of 181.93 million yuan, a year-on-year increase of 37.86% [3]. - The net profit attributable to the parent company was a loss of 33.73 million yuan, a reduction in loss of 2.39 million yuan compared to the previous year [2][3]. - The net profit attributable to the parent company after deducting non-recurring gains and losses was a loss of 34.08 million yuan, a reduction in loss of 2.70 million yuan year-on-year [2][3]. - The net cash flow from operating activities was 93.86 million yuan, an increase of 164.65% compared to the previous year [3]. Production Capacity and Projects - The company has achieved mass production on 9 production lines in Shenzhen, with the CPI pilot line undergoing process optimization [3]. - The construction of the 1,600-ton fundraising project in Jiaxing has been completed, with 4 production lines starting production in September 2023 [3]. - The company is developing various special functional polyimide films for 5G/6G applications, electric vehicles, and high-performance packaging materials [4]. Product Development - The company is working on new products such as TPI films that break foreign patent barriers, with increasing order volumes [4]. - Ongoing research includes low dielectric, flexible optoelectronic materials, high thermal conductivity, and fluorine-free special polyimide films [4]. - The company aims to enhance production efficiency and expand its product offerings in response to market demands [4].

Core Insights - The company reported a revenue of 182 million yuan for the first half of 2025, representing a year-on-year increase of 37.86% [1] - The net profit attributable to shareholders was -33.73 million yuan, with a year-on-year increase of 6.64% [1] - The basic earnings per share for the reporting period was -0.19 yuan [1] Financial Performance - The gross margin for the first half of 2025 was 20.87%, an increase of 3.47 percentage points year-on-year [1] - The net margin was -18.54%, which improved by 8.84 percentage points compared to the same period last year [1] - In Q2 2025, the gross margin was 21.01%, up 6.97 percentage points year-on-year and 0.34 percentage points quarter-on-quarter [1] - The net margin for Q2 2025 was -14.92%, showing an increase of 10.39 percentage points year-on-year and 8.31 percentage points quarter-on-quarter [1] Expense Analysis - Total operating expenses for the first half of 2025 were 74.52 million yuan, an increase of 15.07 million yuan compared to the same period last year [2] - The expense ratio was 40.96%, a decrease of 4.09 percentage points year-on-year [2] - Sales expenses increased by 1.96%, management expenses rose by 22.57%, R&D expenses grew by 1.53%, and financial expenses surged by 58.13% [2] Company Overview - Shenzhen Ruihuatai Film Technology Co., Ltd. is located in Bao'an District, Shenzhen, Guangdong Province, and was established on December 17, 2004 [2] - The company was listed on April 28, 2021, and its main business involves the research, production, and sales of high-performance PI films [2] - The revenue composition is as follows: high-performance PI films 97.93%, other PI films and processing 1.21%, and other (supplementary) 0.85% [2] - The company belongs to the basic chemicals-plastics-film materials industry and is associated with concepts such as commercial aerospace, small-cap, flexible electronics, specialized and innovative, and new materials [2]

国信证券股份有限公司（以下简称"国信证券"或"保荐机构"）作为深圳 瑞华泰薄膜科技股份有限公司（以下简称"瑞华泰"或"公司"）首次公开发行 股票并在科创板上市和向不特定对象发行可转换公司债券的保荐机构，根据《证 券发行上市保荐业务管理办法》《上市公司募集资金监管规则》《上海证券交易所 科创板上市公司自律监管指引第 1 号——规范运作》等有关规定，对瑞华泰继续 使用部分募集资金向全资子公司嘉兴瑞华泰薄膜技术有限公司（以下简称"嘉兴 瑞华泰"）提供借款以实施募投项目的事项进行了核查，具体情况如下： 一、募集资金基本情况 国信证券股份有限公司 关于深圳瑞华泰薄膜科技股份有限公司继续使用部分募集 资金向全资子公司提供借款以实施募投项目的核查意见 根据中国证券监督管理委员会于 2022 年 7 月 18 日印发的《关于同意深圳瑞 华泰薄膜科技股份有限公司向不特定对象发行可转换公司债券注册的批复》（证 监许可〔2022〕1546 号），同意深圳瑞华泰薄膜科技股份有限公司（以下简称"瑞 华泰"或"公司"）向不特定对象发行可转换公司债券（以下简称"可转债"）的注 册申请。公司向不特定对象发行可转债 430 万张，每张面值为人 ...

| 证券代码：688323 | 证券简称：瑞华泰 | 公告编号：2025-037 | | --- | --- | --- | | 转债代码：118018 | 转债简称：瑞科转债 | | 深圳瑞华泰薄膜科技股份有限公司 2025 年半年度募集资金存放、管理与实际使用情况 的专项报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 根据《上市公司募集资金监管规则》《上海证券交易所科创板上市公司自 律监管指引第 1 号——规范运作》和《上海证券交易所科创板股票上市规则》 等有关规定，深圳瑞华泰薄膜科技股份有限公司（以下简称"公司"或"深圳 瑞华泰"）2025 年半年度募集资金存放、管理与实际使用情况说明如下： | 项目 | | 金额（人民币：元） | | | --- | --- | --- | --- | | 募集资金总额 | | 430,000,000.00 | | | 减：发行费用 | | | 7,415,566.04 | | 募集资金净额 | | 422,584,433.96 | | | 减：投入嘉兴高性能聚酰亚胺薄膜项目 ...

| 证券代码：688323 | 证券简称：瑞华泰 | 公告编号：2025-039 | | --- | --- | --- | | 转债代码：118018 | 转债简称：瑞科转债 | | 深圳瑞华泰薄膜科技股份有限公司 关于选举第三届董事会职工代表董事的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 深圳瑞华泰薄膜科技股份有限公司（以下简称"公司"）于近日召开职工代 表会议，会议经出席本次会议的全体职工代表投票表决，选举袁舜齐先生担任公 司第三届董事会职工代表董事，袁舜齐先生简历详见附件。 公司第三届董事会由 8 名董事组成，其中 7 名非职工代表董事由股东大会选 举产生。本次职工代表会议选举产生的职工代表董事，与 2024 年年度股东大会 选举产生的非职工代表董事共同组成公司第三届董事会，任期与公司第三届董事 会一致。 深圳瑞华泰薄膜科技股份有限公司董事会 2025 年 8 月 23 日 1 附件： 袁舜齐先生，中国国籍， 1968 年 7 月出生，硕士毕业，深圳市地方级领军 人才。曾任职于兵器工业 212 研究所、 ...

| | | 深圳瑞华泰薄膜科技股份有限公司 关于继续使用部分募集资金向全资子公司提供借款 以实施募投项目的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 深圳瑞华泰薄膜科技股份有限公司（以下简称"公司"或"瑞华泰"）于 2025 年 8 月 21 日召开第三届董事会第四次会议审议通过了《关于继续使用募集 资金向全资子公司提供借款以实施募投项目的议案》，同意公司继续使用部分募 集资金向全资子公司嘉兴瑞华泰薄膜技术有限公司（以下简称"嘉兴瑞华泰"） 提供不超过 33,000 万元借款，用于 2022 年度向不特定对象发行可转债的募投项 目之一"嘉兴高性能聚酰亚胺薄膜项目"。借款期限自实际借款之日起 3 年，借 款可提前偿还或到期后续借；借款利率为本次可转债发行的实际利率，若公司发 行的可转债转为公司普通股，公司不再向嘉兴瑞华泰收取借款利息。公司董事会 授权公司经营管理层全权办理上述借款事项后续具体工作。保荐机构国信证券股 份有限公司（以下简称"保荐机构"）对上述事项出具了相关核查意见。具体情 况如下： 根 ...