XJJW(SH:600888) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-08-19 00:04Fundraising Overview - The company has received approval from the China Securities Regulatory Commission to issue convertible bonds totaling RMB 1,375,000,000, with a maturity of 6 years and a face value of RMB 100 per bond, resulting in 13,750,000 bonds issued [1] - The net proceeds from the fundraising, after deducting issuance costs, amount to RMB 1,359,255,896.23, which has been verified by Sigma Accounting Firm [1] Change in Fund Usage - The company plans to change the use of surplus funds from the convertible bond issuance, totaling RMB 357,198,200 (including interest income), to finance a project for an annual production capacity of 2.4 million tons of alumina [1] Fund Management and Supervision - The company and its subsidiary, Fangchenggang Zhong Silk Road New Materials Technology Co., Ltd., have established a special account for the management of the raised funds, in compliance with relevant regulations [2] - A tripartite supervision agreement has been signed among the company, the bank, and the sponsor to ensure proper management and protection of investor rights [2][3] Special Account Details - The special account has been opened at the Bank of Communications, with specific account numbers provided, and is designated solely for the capital contribution to the alumina project [2] - As of the announcement date, the balance in the special account was RMB 357,612,168.73 [2] Compliance and Reporting - The company is required to notify the sponsor if withdrawals from the special account exceed 20% of the net proceeds from the fundraising [5] - The sponsor has the right to conduct on-site investigations and audits of the special account to ensure compliance with the agreement [4][5] Agreement Validity - The tripartite agreement will remain effective until all funds in the special account are fully utilized and the account is legally closed [5]