ASCF(SH:600855) Zheng Quan Zhi Xing·2025-07-01 16:41Summary of Key Points Core Viewpoint - The company, Beijing Aerospace Changfeng Co., Ltd., is changing the use of raised funds from its 2022 private placement, terminating the "Energy Storage Power Verification Capability Construction Project" and permanently supplementing remaining funds into working capital due to changes in market conditions and strategic focus [2][4][6]. Group 1: Fundraising Overview - The company raised a total of RMB 325.26 million by issuing 27,752,474 shares at a price of RMB 11.72 per share [2]. - The funds were intended for projects including the enhancement of high-power density module power supply production and AI-based detection equipment development, with a total investment of RMB 393.04 million [2][3]. Group 2: Change of Fund Usage - The "Energy Storage Power Verification Capability Construction Project" was planned to invest RMB 63.52 million, with RMB 52.50 million from the raised funds, but has not yet utilized the funds [3]. - The decision to terminate this project is based on significant changes in the market environment and competitive landscape, which have compressed profit margins in the large energy storage industry [3][4]. Group 3: Remaining Fund Allocation - After terminating the project, the company plans to permanently allocate the remaining funds of RMB 53.88 million (including interest) to working capital, enhancing operational efficiency and strategic development [4][5]. - The company will close the corresponding special fund account and terminate the related fund supervision agreement after the transfer [4]. Group 4: Approval Process - The board of directors approved the change in fund usage unanimously on July 1, 2025, and the matter will be submitted to the shareholders' meeting for further approval [5][6]. - Independent directors and the supervisory board have expressed support for the decision, emphasizing that it aligns with the company's operational needs and does not harm shareholder interests [5][6].