GUILIN FUDA (SH:603166) Zheng Quan Zhi Xing·2025-08-11 09:13Core Viewpoint - The report outlines the fundraising and usage status of Guilin Fuda Co., Ltd. for the first half of 2025, detailing the non-public offering of shares and the management of raised funds, confirming that all funds have been utilized and accounts closed [1][2][3]. Fundraising Overview - In June 2021, the company raised a total of RMB 291 million through a non-public offering of 54,189,941 shares at RMB 5.37 per share, with net proceeds amounting to RMB 283.07 million after deducting issuance costs [1]. - As of June 30, 2025, the total amount used from the raised funds reached RMB 284.91 million, with all projects funded by these proceeds completed and accounts closed [2][5]. Fund Management - The company established a fundraising management system to ensure the proper storage, approval, usage, and supervision of the raised funds, adhering to principles of regulation, safety, efficiency, and transparency [2][3]. - A four-party supervision agreement was signed with Guizhou Bank and Guotai Junan Securities for managing the special account for raised funds, which has been executed without issues [3]. Project Investment Status - The funds were primarily allocated to the "New Energy Vehicle Electric Drive System High-Precision Gear Intelligent Manufacturing Project (Phase I)," which commenced production in July 2024 and has reached the expected usable state [4][6]. - The total investment in the project amounted to RMB 284.91 million, with no external transfers or replacements of the investment projects reported during the period [4][5]. Idle Fund Management - The company temporarily used RMB 10 million of idle funds to supplement working capital, which has since been fully returned to the special fundraising account by the end of 2024 [5][6]. - There were no instances of using excess funds for permanent working capital supplementation or loan repayments as of June 30, 2025 [5]. Conclusion of Fund Usage - All fundraising projects have been completed, and the remaining balance, including interest income, was transferred to the general account for permanent working capital [6][7].