MEITENG TECHNOLOGY(SH:688420) Zheng Quan Zhi Xing·2025-06-20 09:36Core Viewpoint - The company has completed the "Intelligent Equipment Production and Testing Base Construction Project" and plans to permanently supplement its working capital with the remaining funds from this project, while also closing the related fundraising accounts [1][5][8]. Fundraising Basic Situation - The company raised a net amount of RMB 108.08 million from its initial public offering after deducting issuance costs [1]. - The total planned investment for the fundraising projects was RMB 509.45 million [2]. Fundraising Project Status - As of June 17, 2025, the cumulative investment from the raised funds was RMB 325.22 million, with the remaining funds being RMB 27.63 million [2][3]. - The remaining funds include interest income and cash management returns after deducting bank fees [4][5]. Reasons for Fundraising Surplus - The company adopted a cautious and frugal approach during the project implementation, which led to reduced actual expenditures [5]. - The company generated investment income from idle fundraising funds through cash management, contributing to the surplus [5]. Use Plan for Surplus Funds - The company plans to use the surplus funds of RMB 27.63 million to permanently supplement its working capital for daily operations [5][6]. Impact of Surplus Fund Allocation - The decision to allocate surplus funds to working capital is expected to enhance the company's operational capacity and align with its long-term development strategy [5][8]. Account Closure - The company intends to close the fundraising accounts associated with the surplus funds, which will not affect the ongoing projects [6][7]. Review Procedures and Opinions - The board of directors and the supervisory board approved the proposal to conclude the fundraising project and allocate the surplus funds [8]. - The supervisory board confirmed that the decision aligns with regulations and does not harm the interests of shareholders, particularly minority shareholders [8]. - The sponsoring institution also expressed no objections to the decision, affirming compliance with relevant laws and regulations [8].