Zheng Quan Zhi Xing·2025-03-25 13:21Core Viewpoint - The report provides an independent verification of the fundraising and actual usage of funds by Xintian Green Energy Co., Ltd. for the year 2024, confirming compliance with regulatory requirements and reflecting the company's financial activities accurately [1][2]. Fundraising Overview - The company raised a total of RMB 4,595,799,887.51 through a private placement of A-shares in December 2021, with a net amount of RMB 4,545,055,183.47 after deducting underwriting fees [2][3]. - As of December 31, 2024, the remaining balance in the fundraising account was RMB 312,587,236.31, representing 6.80% of the total raised funds [2][3]. Fund Usage and Management - The funds were allocated as follows: RMB 2,809,627,361.69 for direct investment projects, RMB 288,478,759.47 for fund replacement, and RMB 1,213,423,034.48 for working capital and bank loan repayment [2][3]. - The company has established a regulatory agreement with the underwriter and banks to ensure proper management and usage of the raised funds [2][3]. Fund Investment Projects - The main projects funded include the Tangshan LNG project and associated pipeline projects, with the first phase completed and the second phase ongoing, expected to reach operational status by 2025 [7][9]. - The company has not transferred any investment projects to third parties and has used RMB 285,600,000.00 of the raised funds to replace pre-invested funds [6][9]. Cash Management - The company has utilized idle funds for cash management, including investments in structured deposits and other financial products, with a total of RMB 5,039,000,000.00 invested and redeemed [5][6]. - As of December 31, 2024, the company had no instances of using idle funds for temporary working capital supplementation [5][6]. Compliance and Reporting - The fundraising report was prepared in accordance with the relevant regulatory guidelines, ensuring that all information is true, accurate, and complete [1][2]. - The independent verification by Ernst & Young confirms that the report reflects the company's fundraising and usage status accurately [1][2].