Zheng Quan Zhi Xing·2025-07-25 16:26Core Viewpoint - The company is changing part of the fundraising purpose from the initial public offering to implement a new investment project, while continuing the original project in Thailand without cancellation [1][7][19]. Fundraising Basic Situation - The company raised a net amount of approximately 3.93 billion yuan from the public offering of shares [1]. - The funds have been deposited in a special account and are subject to regulatory agreements for management [2]. Changes in Fundraising Purpose - The company plans to redirect the unutilized funds from the Thailand project to a new project focused on high-performance green 5G digital tires for electric vehicles [3][4]. - The amount involved in this change is 671.49 million yuan, accounting for 17.07% of the total net fundraising [4][19]. Thailand Investment Project - The Thailand project aims to enhance production capacity by adding 7 million high-performance semi-steel radial tires, with construction expected to be completed by June 2026 [4][5]. - The project has already completed most of the construction and is currently in the equipment purchasing and installation phase [4][5]. New Investment Project Details - The new project, located in Jiangsu Province, aims to meet the growing demand for tires in the domestic electric vehicle market and is expected to generate significant sales revenue upon completion [10][11]. - The total investment for the new project is approximately 2.37 billion yuan, with 671.49 million yuan planned to be funded from the redirected fundraising [10][11]. Project Feasibility and Market Demand - The global tire market is projected to grow, driven by increasing vehicle ownership and the rapid development of the electric vehicle sector [11][12]. - The company has established itself as a key supplier for several well-known electric vehicle manufacturers, indicating strong market demand for its products [13][14]. Decision-Making Process - The board of directors and the supervisory board have approved the changes in fundraising purposes, ensuring compliance with relevant regulations [21][22]. - The company will establish a special fundraising account and sign regulatory agreements to manage the funds effectively [20][22].