XACIG(SH:600596) Zheng Quan Zhi Xing·2025-08-21 16:39Core Viewpoint - The company plans to utilize part of its temporarily idle raised funds for cash management to enhance fund efficiency while ensuring the safety of the funds and not affecting ongoing projects [1][4][6]. Fundraising Overview - The company raised approximately RMB 1.8 billion through the issuance of 203,850,509 shares at a price of RMB 8.83 per share, with net proceeds after fees amounting to RMB 1,781,788,814.78 [2][3]. - The funds are stored in dedicated accounts, with a total balance of RMB 26,400.42 million as of June 30, 2025 [3]. Fund Usage and Idle Reasons - The primary project funded by the raised capital is the relocation and upgrading of Zhejiang Kaihua Synthetic Materials Co., with a total investment of RMB 227,304.66 million and an intended allocation of RMB 180,000.00 million from the raised funds [2][3]. - The project is expected to reach operational status by the end of March 2026, leading to a temporary idle status of some funds [3][4]. Cash Management Details - The company intends to use up to RMB 200 million of the temporarily idle funds for cash management, with a maximum daily balance included, from the board's approval date until March 31, 2026 [4][5]. - The cash management products will include safe and liquid principal-protected financial products, such as structured deposits and time deposits, and will not be used for pledging or securities investment [4][5]. Decision-Making Process - The board and supervisory committee have approved the cash management plan, confirming it will not affect the normal operation of the company or the implementation of fundraising projects [6][7]. - The company will ensure compliance with relevant regulations and maintain transparency in its cash management activities [6][7].