Zhejiang Power New Energy (SH:688184) Zheng Quan Zhi Xing·2025-06-27 16:27Fundraising Overview - Zhejiang Pava New Energy Co., Ltd. successfully raised a total of RMB 1,742,885,617.16 through its initial public offering, with a net amount of RMB 1,595,130,043.93 after deducting issuance costs [1] - The company issued 33,594,557 shares at a price of RMB 51.88 per share, and the funds have been verified by Tianjian Accounting Firm [1] Temporary Fund Flow Management - The company has decided to temporarily use up to RMB 150 million of idle fundraising for working capital, ensuring it does not affect the construction of fundraising projects [2] - The usage period for these funds is limited to 12 months from the board's approval date, after which the funds must be returned to the fundraising account [2] Special Account and Regulatory Agreement - A special account for temporary fund flow has been established with Industrial Bank Co., Ltd., Shaoxing Branch, specifically for managing the temporary working capital [3] - A tripartite regulatory agreement has been signed among the company, the bank, and the sponsor, Guotai Junan Securities, to ensure proper management and protection of investor rights [3][4] Agreement Details - The special account is designated solely for the company's main business operations and cannot be used for other purposes [5] - The sponsor is responsible for supervising the use of the fundraising and must conduct at least biannual checks on the account [5] - The bank is required to provide monthly account statements to both the company and the sponsor [6] Compliance and Reporting - The agreement stipulates that any withdrawal exceeding RMB 10 million or 10% of the net fundraising amount must be reported to the sponsor [7] - The agreement will remain effective until all funds are fully utilized and the account is closed [7]