Zheng Quan Zhi Xing·2025-04-02 09:26Summary of Key Points Core Viewpoint The report outlines the fundraising activities and management practices of Jiangxi Naipu Mining Machinery Co., Ltd. (Naipu Mining) for the years 2020 to 2024, detailing the amounts raised, their usage, and compliance with regulatory requirements. Fundraising Overview - In 2020, Naipu Mining raised a total of RMB 37,000,000 by issuing 17.5 million shares at RMB 21.14 each, with all funds confirmed by an audit report [1][2]. - In 2021, the company issued 4 million convertible bonds with a total face value of RMB 400 million, netting RMB 392.7 million after deducting issuance costs [2][3]. Fund Usage - By December 31, 2024, Naipu Mining had invested a total of RMB 337,008,052.44 in fundraising projects, with RMB 1,545,721.24 remaining from the 2020 fundraising [2][3]. - For the 2021 convertible bond issuance, a total of RMB 348,425,049.86 was invested by the end of 2024, with RMB 44,277,478.84 remaining [3][10]. Fund Management Practices - The company established a fundraising management method in compliance with relevant laws and regulations, ensuring strict approval processes for fund usage [5][6]. - Naipu Mining opened dedicated bank accounts for fundraising and signed tripartite supervision agreements to ensure funds are used appropriately [5][12]. Changes in Fund Usage - Due to the overall relocation of the company, the original project "Technology Upgrade of Mining Equipment and Rubber Spare Parts" was terminated, and funds were redirected to the "Overall Relocation and Technology Upgrade Project" [6][18]. - In 2022, part of the funds originally allocated for the "Composite Lining Technology Upgrade and Intelligent Transformation Project" was repurposed for the "Annual Production of 4,000 Tons of Mining Wear Parts Project" in Chile [13][18]. Compliance and Audit - The report confirms that Naipu Mining has complied with all relevant regulations regarding the management and usage of fundraising, with no significant discrepancies noted in the disclosures [10][18]. - The sponsor, Guojin Securities, conducted thorough checks on the fund management and usage, confirming adherence to legal requirements [10][18].