Zheng Quan Zhi Xing·2025-08-22 10:18Core Viewpoint - The company has decided to extend the implementation period for its fundraising investment projects due to external factors and market conditions affecting the original timeline for project completion [1][2][6]. Fundraising Basic Information - The company issued 3,000,000 convertible bonds at a face value of RMB 100 each, raising a total of RMB 300 million, which was fully received by March 5, 2020 [1]. - The funds are allocated for projects including the "Yushui Hot Spring (Phase I) Renovation Project" [1]. Progress of Fundraising Investment Projects - As of June 30, 2025, the cumulative investment in the Yushui Hot Spring (Phase I) Renovation Project is RMB 27.95 million, with no percentage of completion reported [1]. - The current balance of the fundraising funds in various bank accounts totals approximately RMB 56.11 million [1]. Reasons for Extension of Project Implementation Period - The company aims to enhance customer experience and expand its product offerings, leading to a strategic decision to slow down the construction of the Nanshan Xiaozhai Phase II project due to challenges in the tourism industry [2][3]. - The Yushui Hot Spring (Phase I) Renovation Project has been partially initiated, but the company has decided to delay further renovations to avoid impacting current operations [3]. Measures to Ensure Timely Completion Post-Extension - The company plans to optimize project schedules, allocate resources effectively, and enhance supervision and management of the fundraising projects to ensure compliance and timely completion [4]. Re-evaluation of Fundraising Investment Projects - The Nanshan Xiaozhai Phase II project is designed to enhance the tourism offerings in the region, including a cultural square and themed hotel, which aligns with the company's strategic development plans [4][5]. Impact of Extension on Fundraising Investment Projects - The extension of the project implementation period is a prudent decision based on the current progress and does not constitute a substantive change in the project’s nature or direction [6]. Internal Decision-Making Process - The company's board of directors has approved the proposal to extend the implementation period for the fundraising investment projects [6]. Sponsor Institution's Review Opinion - The sponsor institution, CITIC Construction Investment Securities, has conducted a thorough review and found no objections to the company's decision to extend the project implementation period, confirming that it does not adversely affect shareholder interests [6].