Chongqing Water(SH:601158) Zheng Quan Zhi Xing·2025-07-01 16:30Summary of Key Points Core Viewpoint - The announcement details the change of the implementation entity for certain fundraising investment projects by Chongqing Water Group, following the absorption and merger of a subsidiary, ensuring compliance with regulatory requirements and maintaining project integrity [1][5][7]. Group 1: Fundraising Overview - The company raised a total of RMB 1,900,000,000 through the issuance of convertible bonds, with actual funds received amounting to RMB 1,896,230,000 [1]. - The funds are managed under a specialized account with oversight agreements in place to protect investor interests [1]. Group 2: Investment Project Details - As of June 30, 2025, the total investment amount for the fundraising projects is RMB 424,166,280, with RMB 189,457,550 already utilized [2][3]. - The specific project involved is the expansion of the New Degan Water Plant, which will now be managed by the newly formed Jiangjin Branch of Chongqing Haoyang Water Management Co., Ltd. [3][5]. Group 3: Change of Implementation Entity - The original implementation entity, Chongqing Water Group Jiangjin Water Supply and Drainage Co., Ltd., has been absorbed by Chongqing Haoyang Water Management Co., Ltd., necessitating the change in project management [3][5]. - The restructuring aims to enhance operational efficiency and resource allocation in line with national and local reforms [5]. Group 4: Compliance and Approval Process - The change in the implementation entity was approved by the company's Audit Committee and Board of Directors, ensuring adherence to relevant regulations and procedures [6][7]. - The new fundraising account will be established, and a five-party supervision agreement will be signed to ensure proper management of the funds [6][7].