XJJW(SH:600888) Zheng Quan Zhi Xing·2025-05-16 08:27Core Viewpoint - The company plans to change the use of remaining funds from its convertible bond issuance to invest in a new project, specifically a 2.4 million tons per year alumina production project through its subsidiary [2][5][9] Fundraising and Usage Overview - The company raised a total of RMB 1,574.41 million from the issuance of 13.75 million convertible bonds at a face value of RMB 100 each, with a net amount of RMB 1,359.26 million after tax [2][3] - As of March 31, 2025, the remaining funds available for use amount to RMB 357.20 million, which includes interest income [4][7] Project Completion and Fund Reallocation - The company has completed several projects, including the high-performance high-purity aluminum clean production project and the energy-saving and carbon-reduction circular economy project, allowing for the conclusion of these projects and the reallocation of surplus funds [5][7] - The remaining funds will be used to contribute to the construction of the alumina project, which has a total investment of RMB 6.78 billion, with the company’s capital contribution being RMB 2.03 billion [8][9] Financial Management and Cost Savings - The company achieved cost savings during project implementation due to a decrease in equipment prices and effective management of funds, resulting in a surplus of RMB 147.16 million from completed projects [6][8] - The company plans to use its own funds for any remaining payments related to the completed projects, estimated at RMB 36 million for warranty payments and RMB 50 million for the ongoing green high-purity high-precision electronic materials project [8][9]