Kiwi Instruments(SH:688045) Zheng Quan Zhi Xing·2025-08-15 16:35Core Viewpoint - The report outlines the verification opinions of Shenwan Hongyuan Securities on the newly added implementation entities and locations for certain fundraising projects of Shenzhen Biyi Microelectronics Co., Ltd. The adjustments are deemed necessary for improving fundraising efficiency and optimizing resource allocation without altering the intended use of the funds [1][7]. Fundraising Overview - The company successfully completed its initial public offering (IPO) with a total fundraising amount of RMB 95,201.58 million, after deducting issuance costs of RMB 9,123.79 million, resulting in a net fundraising amount of RMB 86,077.79 million [1][2]. - The total investment amount for the fundraising projects is RMB 65,251.50 million, with the "Biyi Micro R&D Center Construction Project" already completed and ready for use [2][5]. Project Adjustments - The "Power Management Series Control Chip Development and Industrialization Project" has added a new wholly-owned subsidiary, Biyi Micro Shanghai, as the implementation entity and Shanghai as the new implementation location, while the overall investment direction and total amount remain unchanged [3][5]. - The new implementation entity, Biyi Micro Shanghai, is established to enhance the efficiency of fundraising and resource allocation [5][7]. Approval Process - The adjustments were approved during the company's board and supervisory meetings, with no need for shareholder approval, ensuring compliance with relevant regulations [6][7]. - The supervisory board expressed that the changes align with the company's operational needs and do not harm shareholder interests [7][8]. Sponsor's Verification Opinion - Shenwan Hongyuan Securities confirmed that the adjustments made are based on the company's actual situation and do not involve changes in the use of fundraising, thus not adversely affecting the implementation of the projects [7][8].