Recodeal(SH:688800) Zheng Quan Zhi Xing·2025-06-20 11:16Core Viewpoint - The report provides an independent verification of the use of previously raised funds by Suzhou Ruikeda Connection System Co., Ltd., confirming that the funds have been utilized in accordance with regulatory guidelines and accurately reflect the company's financial activities as of May 31, 2025 [1][2][3]. Fundraising Overview - The company raised a total of RMB 405.54 million from its initial public offering (IPO) by issuing 27 million shares at RMB 15.02 per share, with a net amount of RMB 349.83 million after deducting issuance costs [4][5]. - In 2022, the company raised RMB 683 million through a targeted issuance of 5.16 million shares at RMB 132.44 per share, with a net amount of RMB 670.45 million after costs [5][10]. Fund Management - The company established a dedicated fund management system to ensure the proper storage, approval, usage, and supervision of raised funds, adhering to relevant laws and regulations [6][9]. - As of May 31, 2025, the total balance of the raised funds in dedicated accounts was RMB 200.29 million [8]. Fund Utilization - The company committed to investing in two projects from the IPO funds: the high-performance precision connector industrialization project and working capital supplementation, with a total investment of RMB 484.07 million [9][10]. - Adjustments were made to the investment amounts due to the actual net amount raised being lower than initially planned, with the total investment for the high-performance precision connector project reaching RMB 354.63 million, exceeding the net amount raised by RMB 4.79 million due to interest and investment income [9][11]. Project Adjustments and Delays - The company announced delays in project timelines due to external factors such as public health events and supply chain disruptions, with the high-performance precision connector project now expected to be operational by December 2023 [11][12]. - Adjustments to the investment amounts for the 2022 targeted issuance projects were also made, with the total planned investment reduced to RMB 670.45 million [10][13]. Financial Performance and Impact - The company reported that the supplementary working capital project has positively impacted its operational capabilities, although specific financial benefits cannot be quantified [14]. - There were no discrepancies between the actual use of funds and previously disclosed information in regular reports [15].