Zheng Quan Zhi Xing·2025-08-21 16:39Core Viewpoint - The company intends to utilize part of the temporarily idle raised funds for cash management to enhance the efficiency of fund usage while ensuring the safety of the funds and not affecting the normal operation of the fundraising projects [1][3][8] Fundraising Overview - The company raised a total of approximately RMB 1.8 billion (1,799,999,994.47) through the issuance of 203,850,509 shares at a price of RMB 8.83 per share, after deducting related expenses [1] - The net amount of raised funds after deducting external costs was RMB 1,781,788,814.78 [1] Fund Usage and Idle Reasons - The company has established five special accounts for the raised funds, with a total balance of RMB 26,400.42 million as of the date of the report [2] - The main project funded by these raised funds, the Zhejiang Kaihua Synthetic Materials Co., Ltd. relocation project, is expected to reach its usable state by the end of March 2026 due to its complexity, resulting in some funds being temporarily idle [3][4] Cash Management Details - The company plans to use up to RMB 200 million of the temporarily idle funds for cash management, with a maximum daily balance included, from the date of board approval until March 31, 2026 [4] - The cash management will involve safe, liquid, and principal-protected financial products, such as structured deposits and time deposits, and will not be used for pledging or securities investment [3][4] Impact on Daily Operations - The cash management initiative will not affect the normal operation of the company or the implementation of fundraising projects, and it aims to improve the efficiency of fund usage and increase returns for the company and its shareholders [4][7][8] Approval Process - The board of directors and the supervisory board have approved the cash management plan, confirming that it complies with relevant regulations and does not change the purpose of the raised funds [6][8]