Zheng Quan Zhi Xing·2025-05-30 12:18Core Viewpoint - The company intends to use its own funds to pay for investment projects and subsequently replace these expenditures with raised funds, ensuring efficient management and compliance with regulations [1][9]. Fundraising Overview - The company was approved to issue 20,000,000 shares, raising a total of RMB 231,420.00 million, with a net amount of RMB 214,574.66 million after deducting issuance costs [1]. - A subsequent issuance of 12,044,399 shares raised RMB 180,099.90 million, with a net amount of RMB 178,165.66 million after costs, all of which was received by October 23, 2023 [2]. Investment Project Details - The total investment for the initial public offering (IPO) projects is RMB 85,000.00 million, with the same amount planned to be funded from the raised capital [2]. - The company plans to utilize excess funds from the IPO for additional projects totaling RMB 136,317.22 million [3]. Reasons for Using Own Funds - The company cites regulatory requirements for salary payments and tax obligations as reasons for initially using its own funds for project expenses [5][6]. - To enhance operational efficiency and reduce procurement costs, the company prefers to make bulk purchases using its own funds [6]. - The need for flexibility in managing frequent and small expenses, as well as foreign currency payments, also supports the decision to use own funds initially [6]. Operational Process for Fund Replacement - The finance department will track expenditures made with own funds and will regularly transfer equivalent amounts from the raised funds account to the company's accounts [7]. - A detailed ledger will be maintained to document the transactions related to the replacement of funds [7]. Impact on Daily Operations - The approach of using own funds for project expenses is expected to improve the efficiency of fund usage and project implementation without affecting the normal operation of the investment projects [8]. Review and Approval Process - The board of directors and the supervisory board have approved the use of own funds for project expenses, confirming compliance with legal and regulatory requirements [8][9].