新乡拓新药业股份有限公司2023年第一季度报告 证券代码：301089 证券简称：拓新药业 公告编号：2023-051 新乡拓新药业股份有限公司 2023年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完 整。 3.第一季度报告是否经过审计 □是 否 1 新乡拓新药业股份有限公司2023年第一季度报告 （二） 非经常性损益项目和金额 适用 □不适用 单位：元 | 项目 | 本报告期金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益（包括已计提资 | -1,186,813.78 | | | 产减值准备的冲销部分） | | | | 计入当期损益的政府补助（与公司正 常经营业务密切相关，符合国家政策 | 2,830,960.49 | | | 规定、按照一定 ...

Financial Performance - The company's operating revenue for 2022 was CNY 784.72 million, representing a 56.17% increase compared to CNY 502.48 million in 2021[18]. - The net profit attributable to shareholders for 2022 was CNY 286.54 million, a significant increase of 336.05% from CNY 65.71 million in 2021[18]. - The net profit after deducting non-recurring gains and losses was CNY 276.39 million, up 340.98% from CNY 62.68 million in 2021[18]. - The net cash flow from operating activities reached CNY 268.85 million, a 361.99% increase compared to CNY 58.19 million in 2021[18]. - The total assets at the end of 2022 amounted to CNY 1.84 billion, reflecting a 32.26% increase from CNY 1.39 billion at the end of 2021[18]. - The net assets attributable to shareholders increased by 25.43% to CNY 1.38 billion at the end of 2022, up from CNY 1.10 billion at the end of 2021[18]. - The company reported a basic earnings per share of CNY 2.27, which is a 243.94% increase from CNY 0.66 in 2021[18]. - The company achieved a total revenue of ¥784.72 million in 2022, representing a year-on-year increase of 56.17%[45]. - Net profit attributable to shareholders reached ¥286.54 million, up 336.05% year-on-year, driven by strong performance in the antiviral product segment[45]. - The raw material drug segment generated ¥583.44 million, accounting for 74.35% of total revenue, with a remarkable growth of 293.59% compared to the previous year[47]. - The nucleoside series products contributed ¥377.92 million, which is 48.16% of total revenue, reflecting a year-on-year increase of 279.54%[47]. Dividend Distribution - The company plans to distribute a cash dividend of 4 RMB per 10 shares to all shareholders, based on a total of 126 million shares[3]. - The company reported a cash dividend of 4.00 CNY per 10 shares, totaling 50,400,000 CNY, which represents 100% of the total profit distribution[158]. - The company has a total of 126,000,000 shares as the basis for the cash dividend distribution[158]. - The company has no plans for stock distribution or capital reserve conversion in the current profit distribution proposal[158]. Research and Development - The company emphasizes R&D innovation, having built a "Postdoctoral Research Station" and a "Provincial Engineering Technology Research Center" to enhance its R&D capabilities[32]. - The company aims to increase R&D investment to maintain technological advancement and competitiveness, with most core technologies derived from independent R&D[35]. - The company is developing new processes for key intermediates of Capecitabine, which is expected to enhance product competitiveness and support innovation[63]. - The company is also working on the development of Capecitabine raw materials aimed at treating advanced cancers, which will increase domestic supply and reduce economic burdens[63]. - The company plans to increase R&D investment in nucleoside products for oncology and antiviral applications, aiming for breakthroughs in innovative drug fields[40]. - The company’s R&D teams are specialized in various fields, including chemical synthesis, fermentation process control, and enzyme engineering, ensuring comprehensive technical support[37]. - Research and development (R&D) investment amounted to CNY 31,019,544.38 in 2022, representing 3.95% of operating revenue, a slight decrease from 4.17% in 2021[66]. - The number of R&D personnel increased to 144 in 2022, up 19.01% from 121 in 2021, with a notable rise in the number of personnel holding bachelor's degrees by 36.36%[66]. Market and Industry Trends - The pharmaceutical industry in China is expected to grow significantly, driven by increasing healthcare demands and government support for innovation[26]. - The Chinese pharmaceutical manufacturing industry is undergoing accelerated consolidation, with large enterprises rising and smaller ones facing greater pressure[28]. - The implementation of the consistency evaluation system is enhancing the quality of generic drugs and intensifying market competition[28]. - The company is focused on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[134]. - The company plans to expand its market presence in Southeast Asia, targeting a market share increase of 10% within the next two years[141]. Corporate Governance - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[118]. - The company has established a performance evaluation and incentive mechanism for directors, supervisors, and senior management, with a dedicated committee responsible for setting evaluation standards[120]. - The company emphasizes transparency in information disclosure, ensuring that all shareholders have equal access to information[120]. - The company maintains independence from its controlling shareholder, ensuring no interference in decision-making or operations[120]. - The company has a robust governance structure, including a general meeting of shareholders, a board of directors, and a supervisory board[125]. - The company has no significant differences in governance practices compared to regulations set by the China Securities Regulatory Commission[121]. Environmental Responsibility - The company is committed to environmental protection and will continue to invest in upgrades to meet increasing regulatory standards[109]. - The company has implemented a new RTO and RCO system for waste gas treatment, improving emission control efficiency[177]. - The company plans to reduce total nitrogen emissions by 15% through improved wastewater treatment processes[177]. - In 2022, the company invested CNY 14,069,720.59 in environmental governance and protection, and paid CNY 36,903.68 in environmental protection tax[182]. - The company has a comprehensive solid waste management system, ensuring compliance with hazardous waste regulations and maintaining detailed records[181]. Strategic Initiatives - The company plans to continue its market expansion and innovation strategies to strengthen its competitive position in the pharmaceutical industry[63]. - The company is actively pursuing new product development to meet evolving market demands and enhance customer satisfaction[134]. - The company aims to transform challenges into opportunities to achieve sustainable growth in performance[113]. - The company is focusing on compliance with the latest environmental regulations to mitigate pollution and enhance sustainability[177]. - The company has established several subsidiaries, including Xinxiang Jingquan Biotechnology Co., Ltd., which is yet to commence operations, and Henan Dingxin Pharmaceutical Technology Co., Ltd., which will focus on pharmaceutical intermediates in 2023[96]. Employee Relations - The company has implemented a stock incentive plan, approved on September 28, 2022, to motivate employees[159]. - The company has a comprehensive training program aimed at enhancing employee skills and knowledge across various operational areas[157]. - The company emphasizes a competitive salary and benefits system to enhance employee cohesion and recognition[155]. - The total number of employees at the end of the reporting period was 1,491, with 736 in the parent company and 755 in major subsidiaries[154]. - The employee composition includes 929 production personnel, 247 technical personnel, and 283 administrative personnel[154]. Risk Management - The company has established a comprehensive inventory management system to reduce inventory risks and ensure stable operations[109]. - The company recognizes the risk of innovation failure and plans to increase R&D investment and collaborate with strong research institutions to maintain its competitive edge[106]. - The company faces the risk of product price declines due to market competition and plans to lower costs and develop new products to mitigate this risk[107]. - The company is aware of the risks associated with national drug procurement policies and will adjust its strategies accordingly to maintain competitiveness[111]. Social Responsibility - The company donated a total of RMB 2.902 million to social welfare activities during the reporting period[185]. - A donation of RMB 270,000 was made to the Xinxiang Infectious Disease Hospital for purchasing 10,000 doses of Azvudine for free treatment of patients[185]. - The company contributed RMB 5.05 million to support rural revitalization efforts in Henan Province[186]. - The company has made a targeted donation of RMB 50,000 to Shizhuang Village for poverty alleviation efforts[186]. - The company emphasizes the importance of corporate social responsibility in its operational strategy[185].

Financial Performance - Revenue for Q3 2022 reached ¥176,274,055.13, an increase of 68.83% compared to the same period last year[6] - Net profit attributable to shareholders was ¥55,428,312.55, a significant increase of 341.96% year-on-year[6] - The net profit after deducting non-recurring gains and losses was ¥50,310,597.80, up 320.88% from the previous year[6] - Basic earnings per share for Q3 2022 was ¥0.44, representing a 238.46% increase compared to the same period last year[6] - Operating revenue for the period reached ¥422,920,517.10, up from ¥388,432,669.66, reflecting a growth of about 8.9%[35] - Net profit for the period was ¥109,484,923.35, compared to ¥65,885,589.37 in the previous period, indicating a significant increase of approximately 66%[38] - The total comprehensive income attributable to the parent company for Q3 2022 was ¥109,152,877.34, compared to ¥66,059,761.13 in Q3 2021, representing a significant increase[40] - Basic and diluted earnings per share for Q3 2022 were both ¥0.87, up from ¥0.70 in the same period last year, indicating a growth of approximately 24.3%[40] Assets and Liabilities - Total assets as of September 30, 2022, amounted to ¥1,500,609,700.03, an increase from ¥1,393,711,531.79 at the end of the previous year[8] - Total liabilities amounted to ¥307,204,992.92, up from ¥296,351,894.49, which is an increase of approximately 3%[34] - The company's cash and cash equivalents increased, contributing to improved liquidity[31] - Inventory levels rose to ¥242,486,399.22 from ¥167,083,176.30, indicating a growth of approximately 45%[30] Shareholder Information - The total number of common shareholders at the end of the reporting period is 21,891[16] - The largest shareholder, Yang Xining, holds 27.34% of the shares, totaling 34,446,500 shares[16] - SHENGLIN HOLDING CO. LTD. is the second-largest shareholder with a 15.79% stake, amounting to 19,890,000 shares[16] - The third-largest shareholder, Beijing Xinhua Lian Industrial Investment Co., Ltd., holds 10.71% with 13,500,000 shares[16] - The total number of restricted shares held by Yang Xining remains unchanged at 34,446,500 shares, with a release date set for October 26, 2024[20] - The total number of restricted shares at the end of the reporting period is 96,559,280 shares, with 866,200 shares added during the period[24] - The company has not disclosed any related party relationships among the top ten unrestricted shareholders[19] - There are no reported changes in the number of restricted shares for other major shareholders during the period[20] Cash Flow - Cash flow from operating activities showed a net inflow of ¥64,584,440.06, a decrease of 13.57% year-on-year[6] - Cash inflow from operating activities for Q3 2022 totaled ¥364,326,777.04, compared to ¥284,408,561.51 in Q3 2021, reflecting an increase of about 28.1%[44] - The net cash flow from operating activities for Q3 2022 was ¥64,584,440.06, down from ¥74,723,337.42 in Q3 2021, showing a decrease of approximately 13.3%[44] - Cash inflow from investment activities for Q3 2022 was ¥514,151,481.94, significantly higher than ¥10,000,000.00 in Q3 2021[46] - The net cash flow from investment activities for Q3 2022 was -¥71,628,179.98, compared to -¥50,512,308.65 in Q3 2021, indicating a larger outflow year-over-year[46] - Cash inflow from financing activities for Q3 2022 was ¥80,000,000.00, down from ¥131,400,000.00 in Q3 2021, a decrease of approximately 39.1%[46] - The net cash flow from financing activities for Q3 2022 was -¥1,746,173.48, compared to -¥16,090,049.38 in Q3 2021, showing an improvement in cash flow management[46] - The ending cash and cash equivalents balance for Q3 2022 was ¥226,440,815.64, compared to ¥75,066,298.77 at the end of Q3 2021, indicating a substantial increase[46] - The company reported a total of ¥310,048,077.00 in cash received from sales and services in Q3 2022, compared to ¥253,820,495.93 in Q3 2021, marking an increase of approximately 22.1%[44] Research and Development - Research and development expenses increased by 36.90% to ¥19,034,128.86 for the first nine months of 2022[13] - Research and development expenses rose to ¥19,034,128.86 from ¥13,903,474.34, marking an increase of about 36.5%[38] Future Outlook - The company plans to continue expanding its market presence and investing in new product development[38]

Financial Performance - The company reported a total revenue of 500 million RMB for the first half of 2022, representing a year-on-year increase of 15%[22] - The net profit attributable to shareholders was 80 million RMB, up 20% compared to the same period last year[22] - The company's operating revenue for the reporting period was ¥246,646,461.97, a decrease of 13.16% compared to the same period last year[30] - The net profit attributable to shareholders was ¥54,056,610.80, reflecting a slight increase of 1.34% year-over-year[30] - The net profit after deducting non-recurring gains and losses was ¥47,966,304.73, down 7.44% from the previous year[30] - The net cash flow from operating activities was -¥3,323,680.80, a significant decline of 106.87% compared to the previous year[30] - The company expects revenue growth of 20% for the full year 2022, driven by new product launches and market expansion efforts[22] Research and Development - The company plans to invest 50 million RMB in R&D for new drug development in the upcoming year[22] - The company has established a comprehensive product chain in nucleoside (acid) raw materials and intermediates, with a strong focus on R&D innovation[39] - The company has established two core technologies for nucleoside production: chemical synthesis and biological fermentation, forming a mature product R&D system with competitive core products and ongoing projects[47] - The company emphasizes the importance of R&D investment, focusing on the development of nucleoside (acid) products, particularly in the fields of anti-tumor and anti-viral medications[58] - The company plans to increase R&D investment to maintain technological advancement and competitiveness, with most core technologies derived from independent R&D and some from collaborations[47] Market Strategy and Expansion - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 25% increase in market share by the end of 2023[22] - User data indicates a growth in customer base by 10% in the first half of 2022, reaching a total of 1 million active users[22] - The company has expanded its customer base to over 20 countries and regions, establishing partnerships with well-known domestic and international pharmaceutical companies[63] Product Development - The company is currently developing two new products expected to launch in Q4 2022, which are projected to contribute an additional 30 million RMB in revenue[22] - The approval of Azvudine tablets for treating COVID-19 by the National Medical Products Administration is expected to drive future sales and performance growth for the company[56] Financial Position and Investments - The total assets at the end of the reporting period were ¥1,484,730,936.70, an increase of 6.53% from the end of the previous year[30] - The net assets attributable to shareholders increased to ¥1,138,484,202.09, up 3.75% from the previous year[30] - The company reported a net increase in cash and cash equivalents of ¥82,680,427.50, a dramatic increase of 17,332.23% compared to -¥479,801.14 in the previous year, driven by the maturity of structured financial products and increased financing activities[68] - The total investment amount for the reporting period was ¥90,400,000, compared to ¥0 in the same period last year, indicating a significant increase[79] - The company made a major equity investment of ¥90,000,000 in Xinxiang Jingquan Biotechnology Co., acquiring a 100% stake, funded by its own capital[81] Risk Management - The management has highlighted risks related to regulatory changes and supply chain disruptions, with strategies in place to mitigate these risks[22] - The company faces innovation risks due to the need for continuous R&D investment and market insight to maintain competitiveness in the rapidly evolving pharmaceutical industry[105] - Safety production risks are present due to the handling of flammable and toxic substances, necessitating strict adherence to safety management protocols[107] - Environmental risks are heightened by stricter regulations and the need for ongoing investment in pollution control measures[109] Environmental Compliance - The company achieved compliance with pollution discharge standards for wastewater and waste gas, with specific limits for various pollutants[127] - The company has implemented clean production methods to reduce wastewater discharge, aiming to minimize pollution during the production process[131] - The company has established a solid waste management system, including a hazardous waste storage area compliant with national regulations[132] Corporate Governance - The company held five shareholder meetings during the reporting period, with participation rates ranging from 74.96% to 74.99%[120] - The company’s independent directors resigned and were elected during the reporting period, indicating changes in governance[121] - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[192] Shareholder Information - The company’s share capital decreased by 329,088 shares, resulting in a new total of 95,693,080 shares, representing 75.95% of total shares[172] - Major shareholders include Yang Xining with 27.34% (34,446,500 shares), SHENGLIN HOLDING CO. LTD. with 15.79% (19,890,000 shares), and Beijing Xinhua Lian Industry Investment Co., Ltd. with 10.71% (13,500,000 shares)[181] - The number of shareholders at the end of the reporting period is 23,898[181]

Financial Performance - The company's revenue for Q1 2022 was ¥129,549,459.57, a decrease of 10.22% compared to ¥144,296,323.22 in the same period last year[4] - Net profit attributable to shareholders was ¥28,439,239.02, down 5.57% from ¥30,115,863.50 year-on-year[4] - Basic and diluted earnings per share decreased by 28.13% to ¥0.23 from ¥0.32 in the same period last year[4] - Total operating revenue for the current period was CNY 129,549,459.57, a decrease of 10.2% from CNY 144,296,323.22 in the previous period[32] - Net profit for the current period was CNY 28,439,239.02, a decline of 5.6% compared to CNY 30,115,863.50 in the previous period[35] - The total comprehensive income for the current period was CNY 28,439,239.02, compared to CNY 30,603,544.42 in the previous period, indicating a decline of about 7.1%[35] Cash Flow - The net cash flow from operating activities was -¥3,072,039.33, a significant decline of 113.50% compared to ¥22,752,897.85 in the previous year[4] - Cash inflow from operating activities totaled 87,162,014.29 yuan, down from 103,973,877.71 yuan in the previous period, representing a decrease of approximately 16.2%[38] - Cash outflow from operating activities increased to 90,234,053.62 yuan from 81,220,979.86 yuan, marking an increase of about 11.8%[38] - Cash inflow from investment activities amounted to 221,889,021.11 yuan, with a net cash flow of 37,691,425.55 yuan, compared to -24,544,104.59 yuan in the previous period[41] - Cash inflow from financing activities was 10,000,000.00 yuan, down from 28,600,000.00 yuan in the previous period, a decrease of approximately 65%[41] - The net cash flow from financing activities was 3,379,893.06 yuan, recovering from -11,076,570.51 yuan in the previous period[41] - The ending balance of cash and cash equivalents increased to 272,345,621.68 yuan from 54,420,638.37 yuan, reflecting a significant increase[41] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,400,961,990.16, reflecting a slight increase of 0.52% from ¥1,393,711,531.79 at the end of the previous year[4] - The total liabilities decreased to CNY 275,163,113.83 from CNY 296,351,894.49, reflecting a reduction of approximately 7.1%[28] - The company's cash and cash equivalents increased to CNY 313.12 million from CNY 284.20 million at the beginning of the year, reflecting a growth of approximately 10.2%[21] - Inventory levels rose to CNY 200.60 million, up from CNY 167.08 million, indicating an increase of about 19.99%[24] - The company's short-term borrowings increased to CNY 69.50 million from CNY 64.50 million, representing an increase of approximately 7.77%[24] - Accounts payable decreased to CNY 82.14 million from CNY 95.32 million, a decline of about 13.76%[24] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 35,115, with the largest shareholder holding 27.34% of the shares[12] - The company reported a total of 96,022,168 shares with restrictions on sale as of the reporting period[19] - The number of shareholders holding restricted shares at the end of the reporting period was 34,446,500, with a planned release date of October 26, 2024[16] Expenses - Management expenses rose by 44.72% to ¥18,200,219.61, primarily due to increases in employee compensation and depreciation[8] - Other income increased by 76.77% to ¥2,820,778.33, mainly due to higher government subsidies received[8] - The company reported a significant increase of 215.41% in taxes payable, amounting to ¥8,535,535.03, attributed to the accrual of income tax at the end of the period[8] - Research and development expenses increased to CNY 5,490,392.24, up 19% from CNY 4,613,873.30 in the previous period[32] - The company reported a decrease in sales expenses to CNY 1,965,133.65 from CNY 2,446,560.45, a reduction of approximately 19.6%[32]

Financial Performance - The company's operating revenue for 2021 was ¥502,482,146.82, a decrease of 4.82% compared to ¥527,944,253.59 in 2020 [24]. - The net profit attributable to shareholders for 2021 was ¥65,710,976.75, down 41.75% from ¥112,800,605.85 in 2020 [24]. - The net cash flow from operating activities was ¥58,193,772.55, a decline of 51.50% compared to ¥119,999,098.23 in 2020 [24]. - The total assets at the end of 2021 were ¥1,393,711,531.79, an increase of 47.25% from ¥946,482,509.64 at the end of 2020 [24]. - The net assets attributable to shareholders at the end of 2021 were ¥1,097,359,637.30, up 123.55% from ¥490,874,496.09 at the end of 2020 [24]. - The basic earnings per share for 2021 was ¥0.66, a decrease of 44.54% from ¥1.19 in 2020 [24]. - The company achieved a total revenue of ¥502.48 million in 2021, a decrease of 4.82% compared to ¥527.94 million in 2020 [70]. - Net profit attributable to shareholders was ¥65.71 million, down 41.75% from the previous year, while the net profit after deducting non-recurring gains and losses was ¥63.09 million, a decrease of 40.65% [70]. Research and Development - The company reported a significant focus on research and development of new products and technologies, although specific figures were not disclosed in the provided content [5]. - The company aims to enhance its R&D capabilities and maintain technological competitiveness by increasing investment in research and development [55]. - Total R&D investment in 2021 amounted to ¥20,972,191.14, representing an increase of 11.41% compared to ¥18,824,804.16 in 2020 [88]. - R&D investment accounted for 4.17% of operating revenue in 2021, up from 3.57% in 2020 [89]. - The company has developed two core technologies for nucleoside production: chemical synthesis and biological fermentation, establishing a comprehensive product R&D system [55]. - The company is committed to developing innovative antiviral and antitumor nucleoside products, ensuring a competitive edge in the market [119]. - The company is focused on optimizing production processes for existing products like cytidine and cytidine diphosphate to maintain market competitiveness [119]. Market Strategy and Expansion - The company is actively pursuing market expansion strategies, although detailed metrics or targets were not specified in the available information [5]. - The company plans to increase its marketing budget by 25% to support new product launches and market expansion [168]. - The company is expanding its market presence, targeting an additional 10 provinces in the next year [168]. - The company plans to strengthen its market share in the nucleoside pharmaceutical intermediates market by increasing marketing efforts and optimizing sales channels [127]. - The company is focusing on expanding its international market presence, particularly in Southeast Asia and Europe, to drive future growth [177]. Governance and Management - The company has a governance structure that includes a board of directors, a supervisory board, and an executive management team, all operating independently from the controlling shareholder [150]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements [143]. - The company has established a performance evaluation and incentive mechanism for directors and senior management, ensuring transparency and fairness in the hiring process [145]. - The company has a complete independent labor and personnel management system, with no shared employment arrangements with the controlling shareholder [148]. - The company has not experienced any changes in its board of directors or senior management during the reporting period [159]. Risks and Challenges - The company faces innovation risks due to the need for continuous R&D investment and market insight to maintain competitiveness in the technology-intensive pharmaceutical industry [131]. - The company is exposed to product price decline risks due to increased market competition and potential pricing strategies from competitors [132]. - The company must manage safety production risks associated with the use of flammable and toxic materials in its manufacturing processes [133]. - The company faces inventory management and markdown risks due to fluctuations in customer demand and product lifecycle changes [134]. - The company is at risk of environmental penalties if it fails to comply with increasing environmental regulations in the pharmaceutical manufacturing sector [135]. Product Development and Innovation - The company has established a comprehensive product chain in nucleoside (acid) raw materials and intermediates, with a strong presence in antiviral, antitumor, and neurological medications [41]. - The company has developed a diverse range of nucleoside products, including pyrimidine series, purine series, nucleotide series, and nucleoside series, focusing on antiviral, antitumor, and neurological medications [62]. - The company plans to launch three new products in 2022, focusing on innovative drug formulations and targeted therapies [177]. - The company is preparing to produce Azvudine raw materials, targeting a wide range of cancers, which will enrich its oncology product line [88]. - The company aims to enhance its market competitiveness through the development of various new raw materials targeting different cancer types [88]. Financial Management - The company has established a complete independent financial control system and maintains an independent financial department, ensuring no shared bank accounts with the controlling shareholder [149]. - The total amount of cash and cash equivalents at the end of the year was ¥284,196,415.48, accounting for 20.39% of total assets [95]. - The total amount of cash outflow from investment activities surged by 348.91% to ¥332,728,544.23, primarily due to increased cash management and asset investments [91]. - The company has not made any changes to the use of raised funds, maintaining the original investment commitments [106]. - The company plans to use part of the raised funds for cash management and to supplement working capital temporarily [185].