Science Environmental Protection (SH:688480) Zheng Quan Zhi Xing·2025-07-21 12:08Core Viewpoint - The company has received approval to use part of its temporarily idle raised funds for cash management, ensuring that this does not affect the investment projects or the normal operations of the company [2][4]. Fundraising Overview - The company raised a total of RMB 454.6939 million by issuing 23.706667 million shares at RMB 19.18 per share, with a net amount of RMB 399.2448 million after deducting issuance costs of RMB 55.4491 million [2]. - The raised funds have been deposited into a designated account and are subject to a tripartite supervision agreement with the underwriter and the bank [2]. Cash Management Usage - The company approved the use of up to RMB 80 million of temporarily idle funds for cash management, allowing for investments in low-risk, liquid products with a maturity of no more than 12 months [3]. - There was an instance where the company exceeded the authorized limit for cash management, with a total excess of RMB 1 million during specified periods [3]. Impact on the Company - The use of idle funds for cash management is aimed at improving the efficiency of fund usage without compromising the safety of the raised funds or affecting the investment plans [4]. - The excess usage was relatively small, and the principal along with any generated income has been returned to the designated account, ensuring no adverse impact on the company's investment plans [4]. Internal Control and Future Measures - The company plans to enhance internal controls over cash management of idle funds and provide ongoing professional training for financial personnel to prevent similar occurrences in the future [5]. Review Procedures and Opinions - The board of directors and the supervisory board have reviewed and approved the use of idle funds for cash management, confirming that it does not harm the interests of the company or its shareholders [5]. - The supervisory board supports the cash management strategy, stating it can improve fund efficiency and increase returns for shareholders [5]. Underwriter's Verification - The underwriter has verified that the cash management products used were safe and liquid, and the excess usage has been corrected without negatively impacting the company's investment plans [6].