Zheng Quan Zhi Xing·2025-08-19 16:22Core Viewpoint - The company has decided to postpone certain fundraising projects due to market uncertainties and aims to ensure the quality of investment projects while maintaining the safety and efficiency of raised funds [1][5]. Group 1: Fundraising Overview - The company raised a total of RMB 431.775 million by issuing 30.3 million shares at a price of RMB 14.25 per share in November 2019 [1]. - As of June 30, 2025, the company has specific fundraising projects with total investment amounts and cumulative investment amounts detailed in the report [1]. Group 2: Project Adjustments - The company has adjusted the investment total for the "Hydrogen Series and Dimethylpentyl Series Product Technological Transformation Project" and will use surplus funds for new projects, including a "6000 tons Dimethylpentyl Technological Transformation Project" and a "5000 tons High-Purity Bauxite Project" [2]. - The company plans to construct the "5000 tons High-Purity Bauxite Project" in two phases and will use its own funds for the second phase, avoiding the use of raised funds [2]. Group 3: Project Delay Reasons - The postponement of the "6000 tons Dimethylpentyl Technological Transformation Project" from September 2025 to September 2026 is due to the pesticide industry's downturn, macroeconomic fluctuations, and changes in market competition [4]. - The company aims to avoid releasing production capacity during an industry low point to mitigate potential profit declines and will continue to monitor market supply and demand [4]. Group 4: Impact of Delay - The delay does not involve changes to the project implementation entity, method, or total investment amount, and it is not expected to adversely affect the company's normal operations or shareholder interests [5]. - The decision aligns with the company's long-term development strategy and is deemed beneficial for all shareholders [5]. Group 5: Approval Process - The postponement of the fundraising project has been approved by the company's board of directors and supervisory board, complying with relevant regulations and ensuring the interests of all shareholders are protected [5].