XJJW(SH:600888) Zheng Quan Zhi Xing·2025-08-18 16:17Fundraising Overview - The company has received approval from the China Securities Regulatory Commission to issue 13,750,000 convertible bonds, raising a total of RMB 1,375,000,000, with a net amount of RMB 1,359,255,896.23 after deducting issuance costs [1][2] Change in Fund Usage - The company plans to change the use of surplus funds from the bond issuance, totaling RMB 357,198,200 (including interest income), to finance a project for an annual production of 2.4 million tons of alumina [2][3] Establishment of Fund Supervision Agreement - The company has established a special account for fundraising and signed a tripartite supervision agreement with the banks and the sponsor to ensure proper management and protection of investor rights [3][4] Special Account Details - The special account has been opened at Bank of Communications, with a balance of RMB 357,612,168.73 as of August 14, 2025, and is designated solely for the capital contribution to the alumina project [4][5] Responsibilities and Compliance - The agreement stipulates that the company must comply with relevant laws and regulations regarding the management of the raised funds, and the sponsor will oversee the usage of these funds [5][6] Reporting and Monitoring - The sponsor has the right to conduct on-site investigations and request information regarding the special account, with monthly statements provided by the bank to ensure transparency [6][7] Termination Conditions - The agreement can be terminated unilaterally by the company if the bank fails to provide timely account statements or does not cooperate with the sponsor's investigations [7][8]