Summary of Key Points Core Viewpoint The report outlines the usage of funds raised by Changhua Chemical Technology Co., Ltd. through its initial public offering, detailing the total amount raised, expenses incurred, and the allocation of funds to various projects, including a significant shift in investment focus towards a new project involving carbon dioxide polyether and high-performance polyols. Group 1: Fundraising and Allocation - The company raised a total of RMB 902,537,500.00 by issuing 35.05 million shares at RMB 25.75 each, with net proceeds after underwriting fees amounting to RMB 851,450,471.70 [1][2]. - After deducting various expenses, the actual usable funds were RMB 825,059,369.81, with a remaining balance of RMB 184,345,219.18 as of June 30, 2025 [1][2]. Group 2: Project Changes and Investments - In April 2024, the company decided to terminate the original fundraising project for the "Research and Development Center" and redirect the funds towards the "Carbon Dioxide Polyether and High-Performance Polyols Project (Phase I)" [2][3]. - The total investment for the new project is estimated at RMB 586,249.00 million, with Phase I expected to cost RMB 331,377.00 million [4]. Group 3: Financial Management and Efficiency - The company has implemented cash management strategies for temporarily idle funds, allowing for investment in low-risk financial products, with a maximum of RMB 50,000 million allocated for such purposes [6]. - The report indicates that the company has pre-invested RMB 121,347,500.00 of its own funds into projects before the public offering funds were available, which will be replaced by the raised funds [6]. Group 4: Economic Benefits and Performance - The report highlights that the "Carbon Dioxide Polyether and High-Performance Polyols Project" is expected to enhance the company's research capabilities and market competitiveness, although the R&D center itself does not directly generate economic benefits [7][8]. - The company anticipates that the new project will improve production efficiency and expand market share, contributing positively to overall profitability [8].
长华化学: 前次募集资金使用情况报告