AWINIC(SH:688798) Zheng Quan Zhi Xing·2025-07-28 16:50Summary of Key Points Core Viewpoint The report outlines the usage and management of funds raised by Shanghai Aiwei Electronics Technology Co., Ltd. through its initial public offering, detailing the allocation, changes in investment projects, and the financial status of these funds as of June 30, 2025. Group 1: Fundraising and Management - The company raised a total of RMB 3,035,261,414.64 after deducting issuance costs, with the funds verified by Daixin Accounting Firm [1]. - All raised funds are stored in designated special accounts, with specific balances reported for various bank accounts as of June 30, 2025 [2]. Group 2: Actual Use of Funds - As of June 30, 2025, the company has utilized RMB 216,550.68 million of the raised funds, accounting for 71.34% of the net amount raised [9]. - The remaining funds amount to RMB 98,405.19 million, which will continue to be used for investment projects [9]. Group 3: Changes in Investment Projects - The company approved a reduction in the investment for the "R&D Center Construction Project" from RMB 408.2476 million to RMB 218.9229 million, reallocating the remaining funds to the "Electronic Engineering Testing Center Construction Project" [3][4]. - The completion date for the "Electronic Engineering Testing Center Construction Project" has been extended from August 2024 to March 2026 due to its complexity [4]. Group 4: Temporary Use of Idle Funds - The company has temporarily used up to RMB 78 million of idle funds for operational purposes, with a commitment to return these funds within 12 months [5][6]. - As of August 17, 2023, the company has fully returned RMB 60 million of temporarily used funds to the special account [6]. Group 5: Cash Management of Idle Funds - The company has approved the use of idle funds for cash management, allowing up to RMB 2.6 billion for purchasing safe and liquid financial products [7][8]. - As of June 30, 2025, the balance for cash management products was RMB 250 million, with all unused funds stored in designated accounts [9]. Group 6: Economic Benefits from Investment Projects - The projects funded by the raised capital, including the R&D Center and Electronic Engineering Testing Center, have not yet generated direct economic benefits as they are still under development [11]. - The expected internal rate of return for various projects, such as the smart audio chip and motor driver chip projects, is projected to be around 25.21% and 26.66% respectively [11].